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Total compensation rose by a median 14.98 percent in 2011, according to an analysis of compensation that looked at the two highest-compensated executives at a selection of U.S.-based publicly traded staffing firms. The median percentage increase reflects only those executives who had been at their firms for two complete years or more in 2011 and who had reported compensation.
Median total compensation at all 28 U.S. based staffing firms tracked was $1.4 million, excluding executives for whom pay was not reported.
The information is included in a new report released by Staffing Industry Analysts and based on research by Equilar, an executive compensation data firm.
“The increase in total compensation of approximately 15 percent for 2011 is lower than the median increase of approximately 25 percent in 2010,” said Craig Johnson, managing editor, staffing publications, at Staffing Industry Analysts. “However, it is up from 2009 when total compensation fell by a median 10 percent.”
The number of firms tracked each year does vary, Johnson said. There were 30 U.S.-based public staffing firms tracked in 2010 and 26 in 2009.
For 2011, ManpowerGroup Inc. (NYSE: MAN) Chairman, President and CEO Jeffrey Joerres, received the highest total compensation at $10.9 million.
Harold “Max” Messmer Jr. received the second-highest total compensation at almost $10.0 million in 2011, up 9 percent from the previous year. Messmer is chairman and CEO of Robert Half International Inc. (NYSE: RHI). He had ranked No. 1 in the previous year.
The third-highest earner was David Dunkel, chairman and CEO of Kforce Inc. (NASD: KFRC). He received $9.8 million in total compensation in 2011.
This year, we also looked at executives at three Europe-based publicly traded staffing firms with extensive operations in the U.S. — Adecco, Impellam and Randstad. Adecco CEO Patrick De Maeseneire received total compensation of $5.7 million in 2011, which would rank him sixth among U.S. publicly traded firms.
Corporate members of Staffing Industry Analysts can view the report by clicking here.