While most executive perks vary by company revenue size, cell phones are consistently offered by at least half of the companies surveyed.
Kansas City, Kan. – The newly released Executive Compensation 2008/2009 survey of 5,300 employers found 60.2 percent of organizations offer cell phones to executives as a perk. In addition, 43.8 percent of companies provided laptops or home PCs in 2008. Car allowances and company cars are both offered by less than one-third of organizations.
While most executive perks vary by company revenue size, cell phones are consistently offered by at least half of the companies surveyed. When comparing companies who earned over $20 million, between 40 and 50 percent provide laptops or home PCs for executives. Company cars are offered by 20 to 30 percent of organizations across the board.
When comparing additional perks, 26.2 percent offered supplemental life insurance. This year, 16.9 percent of companies had a supplemental disability program, while 10.3 percent provided supplemental executive retirement plans. Only a small percentage of companies offered supplemental vacations and medical insurance, 4.5 and 6.2 percent respectively.
Over the last four years, the number of organizations offering each kind of executive perquisite has remained consistent. Other executive perks mentioned in the Executive Compensation study were:
- 31.3 percent offer a car allowance, and 26.4 percent provide a company car.
- 15.7 percent are given club membership(s).
- 6.2 percent provide supplemental medical insurance.
- 5.6 percent offer legal counseling.
- 3.1 percent provide employees with an airline VIP lounge membership.
- 17.6 percent receive an annual physical exam.
- 3.3 percent provide dependent tuition reimbursement.
- 4.6 percent offer post-retirement insurance.
- 18.8 percent offer voluntary deferred compensation programs.
About the Survey
Executive Compensation 2008/2009 analyzes national and regional data by base pay and total cash compensation for over 45 executive and senior management positions. Information was collected from 5,300 organizations across the country with almost 25,000 incumbents.
Compdata Surveys, www.compdatasurveys.com, is the nation’s leading compensation and benefits survey data provider. Data is collected annually from thousands of organizations across the country. Compdata Surveys has been providing accurate, reliable data at affordable prices to organizations since 1988. For further information about the compensation and benefits surveys, contact Amy Kaminski at (800) 300-9570 or email@example.com.