Condemn directors’ pay scale? (8)

I believe the answer is:

execrate

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'condemn directors' pay scale?' is the definition.
'execrate' can be an answer for 'condemn' (thesaurus). I'm not sure about the 'directors' pay scale?' bit.

'condemn directors' pay' is the wordplay.
'condemn directors'' becomes 'exec' (I can't explain this - if you can you should give a lot more credence to this answer).
'pay' becomes 'rate' (I've seen this in other clues).
'exec'+'rate'='EXECRATE'

Can you help me to learn more?

(Other definitions for execrate that I've seen before include "'Abhor, find repugnant (8)'" , "Curse" , "Damn" , "Express hatred for" , "hate" .)

I've seen this clue in The Sunday Times.

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