A news release said the decline was reflected in lower bonuses, an artifact of the hard times the industry endured during the recent recession.
The report on the chief and second-highest paid executives revealed a median base salary of $364,112 and a median bonus of $135,575 in 2003.Total compensation as a percent of revenue for the top two executives combined was usually less than 1%, although several firms did pay out more than 2%.
The most highly compensated executive in the industry was Max Messmer, CEO of Robert Half International, who received $11.8 million in total compensation, according to the survey.
According to the report, cash remains a key aspect of compensation. “This was noticeably so compared to other industries,” said Barry Asin, chief industry analyst for Staffing Industry Analysts, Inc., “with staffing industry executives receiving 71% of total compensation in cash compared to 57% in other industries.”