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Survey includes participation of 2 thousand senior leadership executives in Latin America
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Low economic growth had a direct impact on senior leadership’s salary bill. According to the Remuneration Survey for presidents and executive directors of Page Executive, a PageGroup business unit specialized in recruiting senior leadership executives, the average fixed monthly remuneration of this group in Brazil was practically unchanged in 2023, at 66,5% of salary stability. The remaining 33,5% of C-Level positions recorded growth in earnings.
The study was carried out from October 2023 to February 2024 and included the participation of 2 senior executives who work in companies from different small, medium and large sectors in Latin America. The remuneration of these professionals is classified into 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 a maintenance in the fixed monthly remuneration of these executives. We noticed that the range impacted by the salary increase was another movement by the company seeking market adjustment or company strategy”, he explains.
Check below how the remuneration was for each position analyzed in senior leadership:
CEO
Up to R$ 246 million:
By R$ 247 million to R$ 494 million
Up to R$ 246 million:
CHR Up to R$ 246 million:
CTO
CCO Up to R$ 246 million:
By R$ 495 million to R$ 1 billion:
Above R$ 1 billion:
COO Up to R$ 246 million:
By R$ 247 million to R$ 494 million
Above R$ 1 billion:
“The average remuneration of operations directors, in general, maintained the same level as in recent years, with small advances in the salary levels of large companies”, adds the executive. Artificial intelligence in the routine of managers Artificial intelligence (AI) has entered the corporate scene and leaders are faced with 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 skills needed to generate positive results with new technological processes. According to research by Page Executive, the main skills that decision makers need to use AI are: agility, strategic vision, communication and knowing how to lead change. “Executives have to work on resilience to integrate technology, as this process is complex and challenging, with changes required at extreme speed”, explains Paulo Dias.
Benefits package is a differentiator in employee engagement In addition to gross remuneration, the benefits package is highly valued by senior 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, with a difference in creating and maintaining a sense of belonging and corporate culture. According to the research, 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 working, health plans with psychological insurance, active participation in congresses and non-conventional training are the differences for the new generations of leaders in Latin America. 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 helping leaders, the topic has a great influence on strengthening the connection with the employer brand, 74% of Latin American executives highlight the importance of sustainable practices in ensuring leaders' loyalty to their organizations. The majority of companies' Boards of Directors (56%) also approve the adoption of a sustainability strategy within their entities. The research also reveals that 29% of companies in Latin America have a specific sustainability committee and 34% already have a corporate governance committee. The CSO (director of sustainability) is one of the positions that has gained the most space recently in Latin America. The position stands out as a fundamental element in driving the company's sustainability and social responsibility in its commercial practices. This leader implements a strategic vision that integrates sustainable aspects into all operation processes, from the supply chain to community initiatives. The professional acts as an agent of change, guiding the company towards a more sustainable and ethical future. “In general, the study shows us that senior leadership needs to follow the main market trends and always manage its operations with an innovative and open perspective to implement technological and socially responsible and sustainable practices”, concludes Paulo Dias. To access the full study, click here: Link Page Executive Page Executive, PageGroup's business unit, specializes in recruiting C-Level executives, decision makers at board and board levels, as well as Advisory and Assessment projects for leadership. With a national presence and a team of more than 42 consultants distributed in several offices throughout Latin America, Page Executive carries out more than 250 projects per year, providing strategic and high-value solutions for companies looking for the best leaders.
More information Communication Content Ricardo Morato (Ricardo܂Morato@conteudonet܂with) Cell. (11) 98799-5868
Carol Freitas (Carol܂fritas@conteudonet܂with) Cell: (11) 99196-3890
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