However, Salary.com said in a press release, compensation varies widely across geographies. Areas that ranked as the top five for CEO/Partner/Owner compensation and their base salary averages, according to the survey, were:
- District of Columbia – $395,400
- New York – $321,800
- Tennessee – $300,500
- Massachusetts – $298,500
- California – $296,600.
Meanwhile, the states that ranked as the bottom five and their base salary averages were:
- Nebraska – $188,800
- Kansas – $185,900
- Maine – $181,700
- South Carolina – $175,800
- Oklahoma – $141,100.
CEO/Partner/Owner compensation varies across industries as well, with the manufacturing industry paying its CEOs/Partners/Owners $254,700, or 8% higher than the national median, the news release said. Meanwhile, the retail trade industry pays $169,500 (38% lower than the national median); the construction industry pays $190,000 (23% lower); and the health care and social assistance industry pays $210,000 (11% lower).
By job function, the survey found the following positions ranked highest in terms of median base salary and median total cash compensation:
- CEO/Partner/Owner ($233,600 median base and $290,300 median total),
- Legal ($194,500 and $244,800),
- Finance ($155,000 and $186,000),
- Operations ($155,000 and $180,000), and
- Sales ($137,500 and $169,700).
The office manager/assistant to the CEO position received the lowest median base and total compensations of $45,000 and $49,000, respectively.
Other survey findings included:
- Compensation for executives of small businesses generally increases with company size, as measured by number of full-time employees and revenue.
- Executives at publicly held corporations typically earn significantly more than their counterparts in sole-proprietorships and closely held corporations.
- Higher total compensation in the mining, financial services and chemical manufacturing industries can be attributed to significantly larger bonuses, commissions and additional short-term incentives.
- Companies in the Northeast and West Coast regions tend to pay their executives more than organizations in the Midwest, South and Mountain States regions.
- The median total cash compensation for CEOs is highest in the Finance & Insurance – Funds & Trusts industry, at $683,000, and lowest in the Transportation Equipment Manufacturing industry.
Salary.com looked to more than 1,800 companies ranging in size from 1 to 500 full-time employees. To purchase a copy of survey results, go to http://research.salary.com .