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Compensation Currents

Compensation Currents SAGE Publications, Inc.1973DOI: 10.1177/088636877300500401 Top executives received an average increase of 7.8 percent in their total compensation for i9~2, according to a McKinsey & Co. survey of 592 large U.S. companies, but their companies didn't violate the federal government's 5.5 percent wage increase guidelines because Top Executives much of the pay gains took the form of bonuses or incentives, which are controlled separately from salaries. (Under the regulations, bonus plans were formulated against a three-year base measurement; also, executives have the same opportunity to increase their productivity as does the piece-rate worker who increases his output.) The fact that 1972 pay gains were higher than the 4.8 percent rise in its 1971 survey McKinsey attributes to a sharp rise in company profits. Preliminary findings from Hay Associates' 1973 compensation comparison indicate that salary increases are not significantly higher or lower at all levels measured than in 1972. A few specifics drawn from this preliminary report, based on i5i "same company" industrial firms, are these: Jobs paying an average base salary of $i5,ooo experienced an increase of 4.8 percent; at an average $:105,ooo base, the increase was 5 percent. Bonus-paying companies upped salaries, on the average, by http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Compensation & Benefits Review SAGE

Compensation Currents

Abstract

Compensation Currents SAGE Publications, Inc.1973DOI: 10.1177/088636877300500401 Top executives received an average increase of 7.8 percent in their total compensation for i9~2, according to a McKinsey & Co. survey of 592 large U.S. companies, but their companies didn't violate the federal government's 5.5 percent wage increase guidelines because Top Executives much of the pay gains took the form of bonuses or incentives, which are controlled separately from salaries. (Under the regulations, bonus plans were formulated against a three-year base measurement; also, executives have the same opportunity to increase their productivity as does the piece-rate worker who increases his output.) The fact that 1972 pay gains were higher than the 4.8 percent rise in its 1971 survey McKinsey attributes to a sharp rise in company profits. Preliminary findings from Hay Associates' 1973 compensation comparison indicate that salary increases are not significantly higher or lower at all levels measured than in 1972. A few specifics drawn from this preliminary report, based on i5i "same company" industrial firms, are these: Jobs paying an average base salary of $i5,ooo experienced an increase of 4.8 percent; at an average $:105,ooo base, the increase was 5 percent. Bonus-paying companies upped salaries, on the average, by
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