Page Executive Research Indicates Stability in Average Fixed Monthly Compensation for Presidents and Executive Directors in Brazil in 2023

The low economic growth directly impacted the payroll of top leadership. According to the Page Executive Compensation Survey for Presidents and Chief Executive Officers, a business unit of PageGroup specializing in recruiting top executives, the average fixed monthly salary for this group in Brazil remained nearly unchanged in 2023, with 66.5% salary stability. The remaining 33.5% of C-Level positions recorded growth in earnings.

The study was conducted from October 2023 to February 2024 and included the participation of 2,000 top executives working in companies of various sizes across different sectors in Latin America. The remuneration of these professionals is classified by ranges, according to the revenue size of the company where they work: up to R＄ 250 million, from R＄ 250 million to R＄ 500 million, from R＄ 500 million to R＄ 1 billion and above R＄ 1 billion.

For Paulo Dias, Director of Page Executive, the research shows that the remuneration of C-level professionals was also impacted by the economy in Brazil. “With the unstable and challenging scenario, we observed maintenance in these executives’ fixed monthly salaries. We noted that the category affected by salary increase was more a movement of the company seeking market adjustment or company strategy,” he explains.

Check below the remuneration for each position analyzed in top leadership:

CEO  

Up to R＄ 246 million:

 From R＄ 247 million to R＄ 494 million
 

From R＄ 495 million to R＄ 1 billion:
 

From R＄ 495 million to R＄ 1 billion:
 

From R＄ 495 million to R＄ 1 billion:
 

“Suffering from economic adjustments, the commercial sector did not register many salary movements in 2023. Slight increases were observed only in companies with higher revenue and investment capacity,” says the specialist.

 COO

Up to R＄ 246 million:
 

“The average remuneration of operations directors, in general, maintained the level of recent years, with slight advances in the salary floors of large companies,” adds the executive.
 

Artificial Intelligence in Managers’ Routine  
 

Artificial Intelligence (AI) has entered the corporate landscape and leaders face the challenge of integrating this technology into their organizations. AI has the potential to transform the way companies operate, but its implementation requires extensive planning and solid leadership to develop the necessary skills to generate positive results with new technological processes.
 

According to the Page Executive survey, the main skills that decision-makers need to use AI are: agility, strategic vision, communication, and knowing how to lead change. “Executives must work on resilience to integrate technology, as this process is complex and challenging, with necessary changes occurring at extreme speed,” explains Paulo Dias.

Benefits Package is a Differential in Employee Engagement 
 

In addition to gross remuneration, the benefits package is highly valued by top executives. According to the survey, 80% of Latin American leaders prefer to work flexible hours.

Companies that offer attractive benefits have a competitive advantage in the search for the best C-Level professionals, providing a differential for creating and maintaining a sense of belonging and corporate culture.
 

According to the survey, even though there has been a change in the perception of benefits, professionals increasingly value aspects that promote physical and mental health. Safe transportation, the possibility of developing subsidiary companies, flexible work, health plans with psychological insurance, active participation in conferences, and unconventional training are the differentiators for new generations of leaders in Latin America.

 
ESG as Part of the Business 

The importance of environmental, social, and governance (ESG) issues has reached high-priority levels for many corporate managers. According to the survey, 68% of professionals recognize the relevance of ESG in their strategic decisions. In addition to assisting leaders, the topic has a significant influence on strengthening the connection with the employer brand, 74% of Latin American executives highlight the importance of sustainable practices in the loyalty of leaders to their organizations.
 

Corporate Boards also largely approve (56%) the adoption of a sustainability strategy within their entities. The survey also reveals that 29% of companies in Latin America have a specific sustainability committee and 34% already have a corporate governance committee.
 

The CSO (Chief Sustainability Officer) is one of the positions that has gained the most space recently in Latin America. This position stands out as a fundamental element to drive the sustainability and social responsibility of the company in its business practices. This leader implements a strategic vision that integrates sustainable aspects into all operational processes, from the supply chain to community initiatives. The professional acts as a change agent, guiding the company towards a more sustainable and ethical future.
 

“Overall, the study shows us that top leadership needs to keep up with the main market trends and manage their operations always with an innovative and open perspective to implement technological and socially responsible practices,” concludes Paulo Dias.

To access the complete study, click here: Link

Page Executive 
 

Page Executive, a business unit of PageGroup, specializes in recruiting C-Level executives, decision-makers at the director and board levels, as well as advisory and assessment projects for leadership. With national presence and a team of over 42 consultants distributed across various offices in Latin America, Page Executive conducts over 250 projects a year, providing strategic, high-value solutions for companies seeking the best leaders.

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