Raises seem to be going the way of the dodo, at least for finance executives. Fifty-seven percent of the more than 1,100 finance executives who reported their compensation to Financial Executives Research Foundation (FERF) say they were not awarded an increase in their base salary in 2010. That's up from the 31% who didn't get a raise in 2009 and the 16% who didn't get one in 2008. And the average pay hike for executives who did receive one was just 2.1%, down from 3.7% in 2009 and 4.96% in 2008.
Of course, salary is only a part of finance executives' pay. Public company CFOs are taking home an average salary of $285,000, down from $296,800 in 2009. But their total cash compensation, including bonuses and long-term cash incentives, averaged $480,877, and their total compensation, which also takes into account stock-based compensation, retirement benefits and perks, was $680,407--or 238% of their base salary. Finance chiefs at private companies were more modestly compensated, with their average salary of $204,800, up from $199,600 the year before, total cash compensation of $285,044 and total compensation of $367,311.