NET DIFFERENCE – Web Wages Up, Options Off Slightly in New Survey
Buck Consultants’ fifth annual Website Compensation Survey also found a dramatic increase in alternate pay strategies used by employers to attract and retain these workers.
The survey found a dramatic increase in the following alternative pay strategies used by employers in 2000 versus 1999:
- 69% now provide hiring bonuses, compared with 58% last year.
- 35% award retention bonuses, versus 20% in 1999.
- 31% of companies now offer their employees “project completion” bonuses.
Twenty-four percent of employers surveyed are considering implementing the bonus for “project completions.”
The popularity of broad-based stock options fell slightly to 41% from 44%.
“It’s a job-seeker’s market, and employers with Website operations find it increasingly necessary to dig a bit deeper into their pockets to attract and retain top-notch employees,” said Paul Gavejian, a principal and compensation consultant at Buck Consultants. “Given the demand for employees with these talents, companies are commonly offering non-traditional compensation elements such as retention bonuses and project completion bonuses that, as recently as five years ago, were considered uncommon, even rare.”
Compensation packages ranged from $32,000 for customer service representatives to $323,000 for presidents of online enterprises. Online presidents saw their total compensation rise 9.3% from $295,800 in 1999.
Financial services, publishing, communications, and Internet companies ranked among the best-paying industries.
The 2000 survey examined compensation practices of 233 employers from eight industries — business services, communications, financial services, Internet (“pure play”‘), manufacturing, publishing, wholesale/retail and utility/transportation.
The study reports on salaries of 42 Web site-related positions in 2000, up from 32 in 1999, and seven in 1996.
« VOODOO ERGONOMICS? – EPF Takes OSHA Estimates to Task