Raises seem to be going the way of the dodo, at least forfinance executives. Fifty-seven percent of the more than 1,100finance executives who reported their compensation to FinancialExecutives Research Foundation (FERF) say they were not awarded anincrease in their base salary in 2010. That's up from the 31% whodidn'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 wasjust 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 accountstock-based compensation, retirement benefits and perks, was$680,407–or 238% of their base salary. Finance chiefs at privatecompanies were more modestly compensated, with their average salaryof $204,800, up from $199,600 the year before, total cashcompensation of $285,044 and total compensation of $367,311.

The FEI numbers suggest companies place great value these dayson the services provided by their treasurers and chief accountingofficers. While the average salary increase was just 2.1%, theaverage raise for treasurers was 3%. And while controllers atpublic companies are earning salaries of $218,700 and vicepresidents of finance are making $209,100, the average salary forpublic company chief accounting officers is $247,900 and fortreasurers $235,600. Moreover, the total compensation fortreasurers was $703,976, or almost three times their salary–thebiggest multiple for any of the categories of executives.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.