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 the election may affect taxation of business income

This report summarizes recent proposals to reform the U.S. business income tax system and considers the path to enactment of any such legislation.

VIDEO

How to Excel pivot a general ledger

The general ledger is a vast historical data archive of your company's financial activities, including revenue, expenses, adjustments, and account balances. J. Carlton Collins, CPA, shows how to prepare data for, and mine data with, PivotTables.

QUIZ

Did you follow 2016’s biggest accounting news?

CPAs will remember 2016 as a year of new standards and new faces. How well did you follow the biggest accounting events? The 7 questions in this quiz will help you find out