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In the last fiscal year, 44% of executives and board members reported a rise in total compensation, according to the 2013 Executive Compensation Survey released today by BlueSteps, a service of the Association of Executive Search Consultants (AESC).
The AESC BlueSteps survey of 778 executives was conducted in September 2013 and included responses from CEOs, CFOs, Board Members, Senior VPs, VPs and other management worldwide, including 53% from the Americas, 35% from EMEA and 12% from Asia/Pacific. Additional findings of the report include:
- The average C-suite base salary among global executives surveyed decreased -8.8% year-on-year, while director level (non-board) middle management salaries have increased +4.6% during the same period.
- This compares with a -1% median fall in compensation for global staffing firm executives during this period, according to Staffing Industry Analysts own research.
- Of the executives surveyed who reported a rise in total compensation, 41.8% reported an increase of between +1% and +5%, followed by 26.6% of executives who reported an increase of between +6% and +10%. Only 10% of executives reported increases above +20%.
- The survey also revealed that the gender pay gap may be narrowing at the executive level. The average base salary difference between executive men and women was only USD 22,075 in the last fiscal year.
- Nine out of ten (88%) of executives surveyed would not accept a pay cut if their roles required less travel.
Peter Felix, President and CEO of AESC, said: “This BlueSteps report highlights the inconsistencies in perception about C-suite executives, in contrast to the high profile cases of robust corner office salaries. On the contrary, for most senior executives in our survey salary increases and bonuses have only modestly begun to rise after the financial crisis.”
“Revenue expectations, headcount reductions, and other challenges have put major strains on this level of executive. Boards and top management should be concerned when the executive talent shortage hits harder in the post-recession phase and executive mobility picks up,” Mr. Felix added.
Staffing industry Analysts will shortly be releasing its 2013 Staffing Executive Compensation Analysis report, conducted in conjunction with Equilar Inc.