Fund managers are opposed to the way many US companies determine executive pay packages, with 90% claiming that executives are "dramatically overpaid" under current compensation models.

The survey, by Watson Wyatt, the human capital consulting firm, polled 55 institutional investors managing a total of $800bn (€670bn). Over 60% said the current pay model is an example of poor corporate governance, and 64% said companies should do a better job disclosing pay packages.