- Short-term incentive awards were highest for executives working in Non-Durable Goods Manufacturing and the Retail and Whole Trade Sector.
- Short-term incentive payments were more prevalent among executives working in Ontario and Quebec compared to other provinces surveyed.
TORONTO, Dec. 8 /CNW/ - Watson Wyatt Data Services, a wholly-owned subsidiary of Watson Wyatt Worldwide, today announced the release of its 2009/2010 Canadian Survey Report on Executive Compensation.
The data are based on the responses of 233 organizations encompassing 420 locations reporting data on 2,462 incumbents. Data are presented on a total of 22 geographic areas and 86 industry classifications.
Bonus/Profit Sharing Trends
Overall, more than two-thirds of executives received a short-term incentive award (comprised of bonus, profit sharing and/or other cash). Bonuses and other cash compensation were paid to 69 percent of executives, with an average award of 26.3 percent of salary across all salary levels combined. The largest payouts, averaging 53.9 percent, were awarded to 73.2 percent of executives earning $300,000 or more. The smallest incentive awards, averaging 19.7 percent, were paid to executives earning less than $150,000.
The percentage of executives receiving a bonus and/or other cash compensation varied significantly amongst the sectors reported. More than 80 percent of executives in Non-Durable Goods Manufacturing and the Retail and Wholesale Trade sectors received a short-term incentive payment, while only 48.6 percent of executives in the Insurance sector received an award. Executives in the Insurance sector also received the smallest payouts, averaging 20.2 percent of salary; the largest payouts, averaging 47.2 percent, were awarded to executives in the Utilities and Energy sector.
Executives in Ontario and Quebec comprised the largest groups to receive a short-term incentive award, at 76.4 percent and 73.9 percent respectively. Executives in the Atlantic Provinces and Alberta received the largest payouts, averaging 29.9 percent and 29.1 percent respectively. The smallest payouts, averaging 22.4 percent of salary, were reported for executives located in Manitoba/Saskatchewan.
More than three-quarters of executives working in organizations with 2,500 full-time employees (FTEs) or more comprised the largest group receiving a bonus and/or other cash compensation. The highest average payouts, at 27.9 percent of salary, were awarded to executives in organizations with FTEs ranging from 301 to 999. The lowest payouts, averaging 24.4 percent of salary, were awarded to executives in organizations with less than 300 FTEs.
The 2009/2010 Canadian Survey Report on Executive Compensation is available online, or as an online/printed report set.
About Watson Wyatt Data Services
Watson Wyatt Data Services (WWDS), a wholly-owned subsidiary of Watson Wyatt Worldwide (ranked 980 on CNN Money's FORTUNE 1000 list of top companies for 2009), is a leading provider of compensation, benefits and employment practices information to the global employer community. From offices around the world, we solicit, analyze and publish an extensive library of printed, interactive and online survey reports. Our compensation databases are recognized worldwide as the most reliable source of current data for compensation planning.
Global scope, local knowledge ...
Covering 97 countries across six continents, our data centers in the U.S., Canada, Europe, Asia and Latin America annually compile reports on the remuneration, benefits and employment practices of local and multinational companies. Our "in-country" experts apply their local knowledge of the varied employment markets, practices and customs to deliver a complete compensation picture that can be used to create sound, market-based pay programs for entire institutions. Our international databases contain compensation information covering millions of employees based on the annual survey participation of organizations ranging from emerging growth companies to many of the world's largest conglomerates.
In addition to compensation surveys, WWDS also publishes references that help HR practitioners attract, retain and reward exceptional employees. These guides cover a wide variety of subject areas, including variable pay, performance management and personnel policies on a local, regional and global basis. For more information, visit our Web site at WWDS.com.
SOURCE WATSON WYATT DATA SERVICES
For further information: For further information: Cherie Langevin, Watson Wyatt Data Services, Tel: (416) 813-4428, E-mail: Cherie.Langevin@watsonwyatt.com