More Finance Execs Get Raises

Average salary hike is slightly better than last year, reveals annual survey.

Compensation for finance executives is looking healthier, with 66% of those surveyed by Financial Executives International reporting they got a raise this year, up from 43% in 2010. 

The average increase in executives’ base salary was 3%, vs. 2.1% in 2010, according to FEI’s fifth annual compensation survey. CFOs at public companies saw average raises of 4%, as did controllers, while chief accounting officers got 2% raises and treasurers saw increases of 4.4%. 

“Theoretically, the economy is picking up, and a company’s situation is picking up a little, and compensation is picking up a little bit,” says Bill Sinnett, director of research at FEI. 

FEI surveyed more than 1,000 executives, almost half CFOs, from public and private companies.

CFOs at public companies reported an average base salary of $277,400 this year, down from $285,000 last year. Their total cash compensation, including bonuses and long-term cash incentives, was $443,800, while their total compensation was $673,831. 

CFOs at private companies had an average base salary of $206,900, vs. $204,800 in 2010, average total cash compensation of $287,382 and total compensation of $316,638. 

The survey found that 75% of executives participate in a defined-contribution retirement plan with an employer match. And while companies pressured by the mounting cost of health coverage are expected to shift more of those costs onto employees, 60% of the executive surveyed by FEI say they don’t expect rising health insurance premiums or expenses to limit their compensation this year.

See more onthe FEI survey.

 

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