Cash compensation increases were recorded in three out of four high-technology sectors, with the median cash compensation increasing the most among software executives, up 7% from 2001’s figures. In fact, only semiconductor executives noticed a dip in cash compensation, down 9.4% in 2002, according to data from Culpepper and Associates.
The other two industries both saw executive cash compensation increases 5.2% in 2002, IT services and hardware. However, it was only IT services that saw increases in both cash compensation figures and revenue, which increased 2.5% from 2001 to 2002. The other industry sectors all saw revenue declines, averaging a negative 3.6% revenue return during that time period:
- hardware -4.5%
- software -5.8%
- semiconductor -7.5%
Further, increases were noted in 10 out of 11 different
executive positions, the largest cash compensation
increases recorded among general counsels, up 18.2%.
This performance was followed by increases for:
- Subsidiary General Managers/Division Presidents (15.3%)
- Sales & Marketing (8.1%)
- Product Development & Manufacturing (7.0%)
- Professional Services (5.2%)
- Chief Financial Officers (5.1%)
- Chief Technology Officers (3.5%)
- Corporate Development (3.5%)
- Chief Operating Officers (3.3%)
- Chief Executive Officers (1.3%).
However, evening out the averages was the precipitous 22.6% decline among non-CEO, chairman of the board cash compensation totals.
More information and a full copy of the report can be found at http://www.culpepper.com/ .