Executives would be prepared to accept a pay cut of 50% to land their dream job, according to new research by PwC in conjunction with the London School of Economics and Political Science.

The research also shows a quarter of respondents prepared to take a 70% cut, while only 5% of respondents would not take any cut for their ideal job.

Tom Gosling, remuneration partner at PwC, says: “Ultimately the flaws in the current executive compensation model are well recognised by shareholders and remuneration committees. There is less consensus on possible solutions. Our research suggests more focus needs to be placed on the psychology of the individual to which pay plans relate, rather than a ‘one size fits all’ approach.”