The latest executive pay survey by accountants PwC has shown that senior managers and executives in FTSE-100 firms have seen the biggest drop in bonuses. Their bonuses as a percentage of maximum payout has fallen to 62% this year, compared with 70% in 2012.
The fall in bonuses was less dramatic for senior figures in the FTSE-250, whose bonuses have been broadly flat this year.
One in 10 FTSE-350 executives were paid no bonus at all in 2013, the survey shows.
For FTSE-100 bosses who received bonuses the average payout was £905,000, 7% down on last year when the figure was £975,000.
With regards to total pay, which comprises salary, bonus, long-term incentives and pension, PwC said its findings reveal that widespread restraint was observed by leading companies throughout this year's AGM season.
Pay levels were largely static for senior managers in FTSE-350 firms and where increases were given they were roughly in line with inflation at an average of 3%, consistent with the levels seen in 2012.
One in five FTSE-100 chief executives and 15% of FTSE-250 bosses saw their pay frozen this year.