Earlier this week, the Financial Executives Research Foundation (FERF), the research affiliate of Financial Executives International, released its 3rd annual Financial Executive Compensation Survey. According to the study, a growing percentage of respondents did not receive a salary increase. Those who did receive increases experienced a slight dip percentage-wise compared with the average salary increase they received in the previous year, while the breadth and depth of their responsibilities continues to expand. However, nearly all of financial executives still reported a bonus in 2008.
Cheryl de Mesa Graziano, Vice President, Research and Operations for FERF, said, "As the debate over salaries and cash-based bonuses continues to intensify, companies will be examining other types of compensation benefits as a means to award and retain professionals." She added, "Our survey results reveal this challenge as decreases in retirement and long-term cash pay come with increases in stock-based long-term awards. Also, though most companies are commonly using company goals to evaluate performance, this year's survey surprisingly reveals a decreased emphasis on individual goals, with more companies choosing EBITDA as a form of measurement." See further details in the press release, order the report from the FERF bookstore (free to FEI members).
Saturday, May 2, 2009
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