Financial officers rake it in.A survey of multi-billion-dollar U.S. companies showed that 1997 was a very good year for corporate financial executives, with double-digit dou·ble-dig·it adj. Being between 10 and 99 percent: double-digit inflation. compensation increases over 1996, Pearl pearl, gem pearl, hard, rounded secretion formed inside the shell of certain mollusks, used as a gem. It is secreted by the epithelial cells of the mantle, a curtain of tissue between the shell and body mass, and is deposited in successive layers around an Meyer Mey·er , Annie Florance Nathan 1867-1951. American writer and a founder of Barnard College at Columbia University (1889). Her plays include The Dominant Sex (1911) and Black Souls (1932). & Partners, Inc., a New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. consulting company Noun 1. consulting company - a firm of experts providing professional advice to an organization for a fee consulting firm business firm, firm, house - the members of a business organization that owns or operates one or more establishments; "he worked for a specializing in executive compensation strategy and programs, examined a group of service and industrial companies with average revenues of $19.4 billion. The survey revealed that, although financial managers are earning more than ever, components such as stock options and bonuses are becoming more important than base salary. Financial managers in a variety of senior positions saw their total pay packages achieve rapid growth. [ILLUSTRATION OMITTED] However, the fixed portion of pay declined. Thirty years ago, salary constituted nearly all the compensation for these executives. It now accounts for less than half. The compensation package's non-salary components increased very quickly while salary raises were modest. For example, controllers actually saw a small decrease in their salaries on average, even though they got large increases in the amount of stock options. [ILLUSTRATION OMITTED] CFOs especially are seeing their fortunes rise and fall with those of their companies. Their salaries have become comparatively insignificant pieces of their compensation pie, as flexible rewards have risen: Salary: 22% Nonfixed components: 78% |
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