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Annual compensation for CEOs unveiled

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CEOs in medium-sized companies saw a 17% annual pay increase to a median of $1.76 million last year, while the median pay for CEOs across all companies remained flat at $875,000 in Financial Year (FY) 2012/2013.

Hay Group’s Singapore Top Executive Remuneration Report 2014 found the pay for CEOs in larger firms fell 3% to about S$4.42 million per annum while the annual salaries of CEOs in smaller organisations stagnated at approximately $625,000.

CEOs in the properties sector earned the highest pay in FY2012/2013, reporting an annual median income of $2.7 million. They were followed closely by the finance sector with $2.13 million, and the hotels and restaurants industry with $1.59 million.

Aside from the CEOs, the report also highlighted the compensation packages of other executives.

In FY 2012/2013, the median annual income for deputy CEOs or COOs was $515,000, while CEOs of subsidiary companies, and top HR, administrative and corporate service executives earned $375,000.

The report also found only 28% of 260 companies here utilise a long-term incentive (LTI) plan in FY 2012/2013. Of those who did implement a LTI plan, 86% were from large-sized companies, a third were medium-sized and 17% were small-sized companies.

“In Singapore, the lower utilisation of LTI in rewarding top executives in Singapore companies could arise from concerns such as the potential dilution and challenges in setting performance measures for long-term incentive plans, the perceived value of underwater stock options and complexity in valuation of LTI instruments,” Kevin Goh, director of executive rewards at Hay Group Singapore, said.

“These concerns can be addressed through well-designed long-term incentive plans with performance measures that are aligned with the long-term shareholder value creation.”

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