The specialized recruitment firm, Page Executive, carried out the “2022 Latam Remuneration Study” in which they disclose the remuneration that senior managers in the region can receive according to the turnover of the company that hires them.
The study shows that the annual salary that executive directors or CEOs can receive can range from $300 million to $1,800 million. In addition, they stated that 88.3% of these high-level executives have remuneration while 64.8% have variable payment, and 23.5% have both types of remuneration.
But in addition to the monetary payment, the companies provide other types of benefits for these workers, some of which may be health or life insurance. Of the executives consulted by the firm, 60% had a comprehensive health plan, 50% have life insurance and 55% are beneficiaries of a car assigned by the company.
According to Juliana Suárez, Associate Partner of Page Executive Colombia, this happens because currently collaborators “value flexibility, experience, culture, etc. These valuation points translate into flexible vacations, dynamic schedules, home office or investment in education Regarding compensation, in the past it was a good fixed salary and a variable one, today professionals value issues such as diversity and inclusion or sustainability, that which gives them a sense of belonging”.
Depending on the sector in which they work, the benefits vary tend to have a greater variety are Fintech, Startups and Proptech, while mining, gas, agriculture, industry and banks “are considered traditional and have less disruptive compensation plans.”