CFO perks leveled off in 2014, but CEOs received big increases
A new study from Compensation Advisory Partners found that Fortune 500 companies provided their CFOs with $24,900 in perks for 2014.
That number is only slightly up from $24,000 in 2013 and $21,400 in 2012. In 2011, CFO perks hit a high of $36,200.
The most common perks given to both CFOs and CEOs include personal use of aircraft, automobile allowance, personal security, and financial planning.
The study found that while the amount paid in perks did not increase, the percentage of CFOs receiving perks jumped from 76% in 2013 to 81% in 2014.
CAP believes companies will continue to closely align executive compensation with shareholder interests. Publicly traded companies are expected to "limit non-performance-based compensation," according to the report.
"Any potential perceived misuse of executive perks will continue to raise the ire of shareholders and proxy advisory firms and provide for headline news," the study adds.
While CFOs maintained a steady level of perks, CEOs received a 15% increase in perks to an average of $143,000, nearly 500% higher than the average CFO. At the time of the study, 83% of CEOs received perks at Fortune 500 companies.
CEOs continue to receive more perks largely due to their ability to negotiate such packages.
"It's not like directors haven't thought about getting rid of perks," Andrew Goldstein, a corporate compensation adviser at Towers Watson, explained to USA Today. "They're still a sticking point for a lot of executives. They feel it's part of their compensation package. And it's a stature thing."