Finance Exec Raises Smaller but Intact


For financial executives who received salary bumps in 2008, the raises were slightly lower, on average, than in 2007. However, most executives still reported a bonus in 2008, according to Financial Executives International’s Financial Executive Compensation Survey, a year-to-year comparison of compensation—including salaries, bonuses, long-term incentives and retirement benefits—of nearly 1,000 financial executives, of which half were CFOs, from both public and private companies.

 

Nearly all of the respondents (94%) reported receiving a 2008 bonus. While bonus awards varied, 18% reported a bonus between 21% and 30% of their base salary, and another 17% reported a bonus between 31% and 40% of their base salary.

 

The base salaries of public and private company financial executives were proportionate to their companies’ annual revenues. Public companies continued to award higher salary increases (4%) than private companies (3.4%).

 

For the 122 public company CFOs, the average annual compensation reported was $410,100, of which $296,800 was base salary. For the 344 private company CFOs, the average total compensation was $257,800, of which $199,600 was base salary.

 

Source: Financial Executives Research Foundation, www.ferf.org.

 

SPONSORED REPORT

How to make the most of a negotiation

Negotiators are made, not born. In this sponsored report, we cover strategies and tactics to help you head into 2017 ready to take on business deals, salary discussions and more.

VIDEO

Will the Affordable Care Act be repealed?

The results of the 2016 presidential election are likely to have a big impact on federal tax policy in the coming years. Eddie Adkins, CPA, a partner in the Washington National Tax Office at Grant Thornton, discusses what parts of the ACA might survive the repeal of most of the law.

QUIZ

News quiz: Scam email plagues tax professionals—again

Even as the IRS reported on success in reducing tax return identity theft in the 2016 season, the Service also warned tax professionals about yet another email phishing scam. See how much you know about recent news with this short quiz.