What Financial Benefits Are Retail Executives Receiving
As part of our continuing coverage of Total Retail’s Salary Benchmark Report, this article focuses specifically on the financial benefits that C-suite retail executives — CEO/president/founder; chief marketing officer; C-level exec other than CEOs and CMOs; and vice president — are receiving. Specifically, the survey asked respondents which of the following financial benefits were part of their overall compensation package — matched retirement fund (401k); unmatched retirement fund (401k); retirement annuity (pension plan); stock options; commissions; profit sharing.
The Salary Benchmark Report was produced after an online survey was sent to Total Retail’s audience over a two-week period in late June asking them about their salaries, benefits, and opinions on their career paths and compensation fairness. The survey resulted in 660 responses; the C-level respondents represented in the chart below accounted for 182 responses.
What I find a bit surprising in the data is that vice presidents are at the top of three categories: matched retirement fund (55 percent); unmatched retirement fund (21 percent); and commissions (18 percent, tied with CEOs/presidents/founders).
Another interesting highlight from the data is that chief marketing officers receive, for the most part, less financial benefits than their C-suite counterparts, ranking lowest in three categories — unmatched retirement fund; commissions; and profit sharing.
Lastly, and perhaps not surprisingly, CEOs/presidents/founders, rank at or near the top of most benefits categories, including leading in retirement annuity (10 percent said they will receive one) and commissions (18 percent). Along with the stress and responsibility of leading a company does come some nice perks.
Get additional insights into retail executives’ compensation packages plus much more to help you maximize your earning potential by downloading the full Salary Benchmark Report here.
