Finance directors also benefited as their average compensation rose to £135,000, up 23 per cent on 2006.

The report demonstrates that the growth of AIM, both in the number of listed companies and average size of company, has brought the pay of its executives closer to that enjoyed by FTSE 100 bosses. Twenty-five AIM CEOs now take home more than the FTSE 100 average of £750,000.

The highest-paid chief executive on AIM is Philip Richards of hedge fund manager RAB Capital. His compensation is £14.4 million, or 12.2 per cent of the company’s turnover.

At the other end of the scale are the CEOs of Hong Kong-based environmental engineering specialist Tinci, mining company Vane Minerals, and Essex-based IT services business Ultimate Networks, who all work for free.

The full report, ‘Directors’ Salaries on AIM’, reveals the remuneration of the companies with the highest and lowest profits, those with the most and least revenues, and the companies with the highest and lowest market capitalisations, as well as the average for each industry sector.