Due to a decrease in bonuses and incentive plans, average mining CEO compensation fell 16% according to a study by Bedford Resources.
“Sixty-three percent of CEO’s received an annual bonus in 2013 compared to 88% in the previous yeart,” said Bedford in its fifth annual report on Board and Executive Compensation for the Mining Industry for 2014.
“Incumbents working at companies under $1 billion in assets experienced greater likelihood of receiving no bonus payment.”
While total compensation was down, median CEO salaries were up 5% compared to last year.
The study also found that many of the survey respondents “experienced significant transition.” Approximately 17% of CEOs left their positions in 2013.
Bedford Resources is an international recruiting firm focused on mining and oil and gas sectors.
[gview file=”http://bedfordresources.com/wp-content/uploads/2014/11/Bedford-Compensation-Report-2014.pdf” height=”800″ width=”600″ save=”1″]
Creative Commons image from Flickr
2 Comments
esqualido
“median CEO salaries were up 5% compared to last year.” Their troops (us shareholders) having had our rations cut 50% or more the past 2 years, there is no reason the officers should have had any increase in theirs- they did not earn it, that’s for sure
ken
CEO’s drive for less 10% turn over in employees, with an ideal target of 5% turn over, yet 17% of CEOs left their positions. Do as I say, not as I do.