Posted by While executive pay has steadily increased over the last several years, 2009 saw executive salaries receive negative publicity from the hands of the media, politicians and public alike. As a result, companies are making drastic changes to their overall design of executive compensation packages with the goal of still motivating and retaining top employees but avoiding public outcry, according to Compdata Surveys, a compensation and benefits survey data provider.
Key findings of the report, Executive Compensation 2009/2010 reveal that since 2008, the average base salary of a CEO in the U.S. has decreased by 9.3% to $346,600. Chief Operating Officers currently earn $214,700, 11% less than last year. Chief Information Officers saw a decrease of 2.1% to $175,300. The average base salary of Chief Financial Officers remained stable in 2009, with a slight increase of less than 1%.
The report also indicates that executive compensation varies not only by industry but company size.
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