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Executive recruiters expect compensation to inch up slightly in 2013 and that companies may be willing to negotiate to land top talent, but pre-recession levels not expected to return until mid 2015.
Norwalk, Connecticut (PRWEB) December 11, 2012
http://www.ExecuNet.com – Executives may see a lift in compensation levels in 2013, albeit a slight one, as recruiters expect executive base salaries to increase by an average of 2.26 percent in the new year, according to ExecuNet’s recent survey of 150 search firm recruiters.
For those executive job seekers negotiating new pay packages, they can expect some leeway. According to surveyed recruiters, companies are willing to go an average of 7.69 percent higher than listed on the original job spec.
Executive recruiters also said they expect it will take an average of 2.7 years before pre-recession compensation levels return, so executives may have to wait beyond 2013 before they see salary levels equal to those of a few years ago. ExecuNet has collected compensation data from executives, director-level and above, for more than 20 years, and in 2007, pre-recession, executives reportedly received an average increase of 7.3 percent in their total compensation.
“Our executive compensation surveys have reflected decreases for several years, with last year showing the first positive sign of a 2 percent increase,” said Mark Anderson, ExecuNet President and Chief Economist. “This 2.26 percent prediction for 2013 by recruiters, while a very modest increase, is still an encouraging upward trend after all the economic turmoil and uncertainty we’ve experienced.”
What to Do When Asked About Salary
Regardless of whether companies feel generous or not regarding compensation, executives need to be ready when asked what they want.
Nearly half of surveyed executive recruiters (45.9 percent) suggest that candidates provide a salary range when asked. One in five (22.5 percent) recommend not providing a salary number at all and instead waiting until later when mutual interest is apparent. Still others recommend the candidate be truthful and state their most current salary. But aiming high is definitely not a good tactic, as fewer than one percent of executive recruiters surveyed suggest candidates provide a higher number than they desire.
Since 1988, ExecuNet has helped business leaders shape positive change to achieve what’s next in their individual lives. From its beginnings as a small gathering of executives in Connecticut, ExecuNet has evolved into a private network of over 250,000 senior-level executive members with a belief in the transformative potential of trusted insight, real connections and personal introductions to help them find meaningful new work, advance in their careers, better manage the growth of their businesses, and become high-value leaders. A recognized authority in executive employment, retention and recruitment, as well as human capital trends, ExecuNet keeps its members informed about what’s important to them in business and their careers.
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