Swedish CEOs are Compensated to a Smaller Degree than Their International Peers
Swedish CEOs are compensated to a smaller degree than their international peers, according to a survey recently performed by Hallvarsson & Halvarsson in Sweden. In the study the compensation packages of Swedish industry leaders have been compared with international CEO compensation packages.
(PRWEB) February 22, 2007 -- In total, 18 listed Swedish companies as well as government owned Vattenfall and LKAB have been compared to international competitors. For each Swedish company, five international companies with similar focus have been identified, and the companies are categorized according to nine different industries.
The data compared is public information about the total compensation package including salary, bonus, other types of compensations, as well as stock option benefits. The retirement packages have not been included in the calculations.
In the local Swedish debate regarding CEO compensation, a common argument used is that Swedish companies must pay well else they lose top talent to international competitors. The survey shows that on average, Swedish companies pay less than international counterparts.
The survey deals solely with the income year of 2005, and does not directly take company size into consideration.
Similar surveys have been performed earlier, and according to the results the top management in Swedish companies during the past 10-15 years have increased their overall compensation, somewhat closing the gap to their European competitors.
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