Compensation for CFOs at S&P 500 companies continues to rise despite a weaker stock market, as a new study said pay for the group rose by 5.2 percent from 2006 to 2007. The study, conducted by Equilar, covered 313 CFOs who have been in their roles at S&P 500 firms for at least 2 years.
Equity compensation was responsible for most of the gains as more CFOs received stock awards. Equity compensation rose 8.2 percent, offsetting a 3.4 percent decrease in overall bonuses.
Median total compensation among the survey group was $2,894,275 last year. Total compensation included base salary, discretionary bonuses, non-equity incentive plan payouts, the grant date value of stock and option awards, and other compensation. The median base salary was $525,000, up 9.1 percent from the previous year. Meanwhile, the median bonus came in at $576,880, down 3.4 percent from 2006, as fewer CFOs received a bonus - 93.6 percent in 2007, compared with 99 percent in 2006.
In contrast to the salary growth for CFOs, compensation for chief executive officers for the same period rose just 1.3 percent, according to Equilar.
Here is Equilar's announcement of its findings.
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