Companies realize that competitively compensating their top employees positions them for a stronger comeback when the economy rebounds
Kansas City, KS (PRWEB) November 4, 2010
Although many executives saw their pay decrease in 2009, the salaries for most executive jobs are finally beginning to rebound. The Executive Compensation 2010/2011 survey results found the average base salary for a company president is $241,900. This reflects an increase of 5.6 percent since 2009.
Chief operating officers are earning $217,400 per year, 1.3 percent more than in 2009. The average base salary for a vice president has increased from $153,500 to $157,700. Chief information officers and treasurers have seen pay increases of more than 6 percent this year, earning them $187,100 and $168,100, respectively. Chief executive officers are one of the few jobs reflecting a decrease, going from $346,600 in 2009 to $332,900 in 2010.
"Companies realize that competitively compensating their top employees positions them for a stronger comeback when the economy rebounds," said Amy Kaminski, director of marketing for Compdata Surveys, the nation's leading compensation and benefits survey data provider. "Having strong leadership in place to guide companies through the recovery process will be the key to each organization's success."
According to the newly released results, salaries vary by company size as chief financial officers at companies with more than 5,000 employees earn $267,500 per year. Organizations with 1,001 to 5,000 employees pay their CFOs $247,700, while those at companies with 500 to 1,000 employees earn $193,700. CFOs at companies with fewer than 100 employees earn the least, $156,100.
Executive salaries also differ by industry as chief executive officers in hospitality earn $444,300 per year, followed by those in insurance, $417,800. The average base salary of a CEO in banking and financial services is $364,100. Service organizations pay CEOs $333,100, compared to not-for-profit organizations where they earn the least, $276,500.
About the Survey
Executive Compensation 2010/2011 analyzes national and regional data by base pay and total cash compensation for over 65 executive and senior management positions. Information was collected from over 4,500 organizations across the country, reporting on over 20,000 incumbents.
Compdata Surveys is the nation's leading compensation and benefits survey data provider. Thousands of U.S. organizations provide data each year ensuring the reliability of our results. Compdata Surveys has been providing comprehensive data at affordable prices to organizations from coast to coast since 1988. For further information about their compensation and benefits surveys, contact Michelle Willis at (800) 300-9570.
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