TORONTO, July 13, 2012 /CNW/ - In an increasingly complex environment,
the executive management teams and boards of Canadian public companies
are turning to investor relations professionals for strategic advice.
According to a new survey released by the Canadian Investor Relations
Institute (CIRI), more than half of respondents are engaged with the
board while 79% have provided strategic counsel to management over the
past year. With this expanded responsibility comes enhanced
compensation with almost one-in-four investor relations professional
earning at least $225,000 in total cash compensation, including 15% who
collected $300,000 or more.
"We continue to hear that more of our members are involved in strategic
discussions with their executive teams and boards," said Tom Enright,
President and CEO of CIRI. "This survey validates that investor
relations professionals are valuable participants in strategic
discussions as they can provide the investment community perspectives
on various corporate initiatives that affect valuation."
Key survey findings:
Evolution and elevation of the IR profession
85% of IROs report to the C-suite, up from 82% in 2010
75% of corporate IR professionals work in separate, specialized IR
departments, up from 72% in 2010
Average IR budgets are $920,000 (excluding allocated overhead, but
including compensation), up from $902,900 in 2010.
IROs increase strategic influence by providing information and insights
79% of IROs have provided strategic counsel to management over the past
12 months, up from 77% in 2010
57% of the IR functions present to the Board, up from 50% in 2010
70% of IR departments are responsible for research such as gathering
IR role becoming more global
33% of respondent companies are inter-listed in the U.S.
17% of respondent companies have a non-North American listing, 48% of
which are from the mining and minerals sector
IR compensation is multi-faceted and complex
Among those who spent 50% or more of their time on IR, total cash
compensation averaged $180,500, implying a 4.5% compounded annual
increase since 2010
Almost one-in-four investor relations professionals earned at least
$225,000 in total cash compensation, including 15% who collected
$300,000 or more
For full survey results, go to: http://www.ciri.org/NewsPublications/Guides.aspx.
About the Survey
The Canadian Investor Relations Institute (CIRI) conducted the seventh Investor Relations Compensation and Responsibilities Survey during the first quarter of 2012. Two hundred and thirty-six investor
relations professionals took part, including 51% of qualified CIRI
The research objectives were to:
track trends and changes in the roles, responsibilities, resourcing and
compensation of the IR profession in Canada; and
provide compensation and budget information for benchmarking.
New to the survey this year, are interviews with IROs from diverse
sectors, market caps, geography, years of IR experience and educational
background. These were conducted to identify current trends within the
profession as well expectations on how the role will evolve in the
The survey was conducted by Carolyn Vose & Associates, an organization
that specializes in market research for organizations operating in
global capital markets.
CIRI is a professional, not-for-profit association of executives
responsible for communication between public corporations, investors
and the financial community. CIRI contributes to the transparency and
integrity of the Canadian capital market by advancing
the practice of investor relations, the professional competency of its
members and the stature of the profession. With more than 600 members
and four chapters across the country, CIRI is the voice of IR in
Canada. For further information, please visit www.ciri.org.
SOURCE Canadian Investor Relations Institute
For further information:
Vice President, Communications & Professional Development