Salary Survey: Fintech Market 2013

Transcription

1 Salary Survey: Fintech Market 03 A review of compensation levels in the Financial Software Vendor Markets for 03 September 03

2 Salary Survey Fintech 03 Contents. Sample size and research process. CEO compensation 3. CTO compensation 4. CFO compensation 5. Global Head HR compensation 6. Sales executive compensation Sample size and research process A total of 473 candidates were surveyed from st March 03 to st September 03. All candidates worked for financial software companies based in either Asia, Europe or the USA. For qualification, a financial software company was defined as a company whose core business was the sale of software to financial service firms and whose revenue was greater than five million US dollars per year. Subsidies of Financial service firms that sold software (for example banks that provide technology products as part of their offering) were not included. Companies where at least 5% of revenue did not come from Financial Services firms were also not included. Candidates were interviewed from a total of 6 different companies with the lowest company revenue per year being $5 million and the largest being $4.3 billion. Candidates were trusted to give accurate answers and no evidence was asked for by Iopa Solutions. However in 7 cases where salaries were extremely out-of-norm with past evidence and our researchers significantly doubted the accuracy, the samples were not included in the overall sample of 473. CEO compensation A total of 53 CEO s were surveyed and asked what their total compensation was for the year st Jan 0 st Jan 03. They were then asked what amount was fixed annual salary and what amount was variable. Variable compensation included stock and cash that was awarded for that year. (No

3 consideration was given as to when this was paid out). Results are shown below in US dollars. Total Compensation of Fintech CEO's in $0-350K $ K $ K $750-m $-m $-5m $5m+ The lowest total compensation for a CEO was $35K (although this candidate received no bonus for 03) and the highest total compensationn was $7. million. For CEO fixed salaries, the results are shown in the graph below: Fixed (Basic) Salaries of Fintech CEO's in $0-349K $ K $ K K $M+ The lowest fixed salary for a CEO was $35K with the highest being $.5 million. Iopa Solutions, Fintech Salary Survey, 03

4 CTO Compensation A total of 5 CTO s were surveyed and asked what their total compensation was for the year st Jan 0 st Jan 03. Again fixed and variable levels were recorded. Results are displayed below: Total Compensation of Fintech CTO's in $0-49K $50-499K $ K $ K $M+ The lowest total compensation for a CTO was $0K (although this candidate received no bonus for 03) and the highest total compensation was $.6 million. Fixed salary details for CTO s is shown in the graph below: Fixed (Basic) Salaries of Fintech CTO's in 03 5 $0-99K $00-99K $ K $ K $ K $750K+

5 The lowest fixed salary for a CTO was $84K and the highest was $750K. CFO compensation A total of 68 CFO s were surveyed and asked what their total compensation was for the year st Jan 0 st Jan 03. Again fixed and variable levels were recorded. Results are displayed below: Total Compensation of Fintech CFO's in $0-99K $00-99K $ K $ K $ K $m-m $m+ The lowest total compensation for a CFO was $90K with the 3 highest paid CFO s earning $3 million, $5 million and $0 million respectively. It should be noted that the candidate paid $0 million was due to the result of his company being acquired and all of his equity vesting at the same time. (We were unable to contact the CEO of this organisation to determine what his compensation was as result of this acquisition). Fixed salary details for CFO s is shown in the graph below:

6 Fixed (Basic) Salaries of Fintech CFO's in $0-99K $00-99K $ K $ K $ K $750K+ The lowest fixed salary paid to a CFO annually was $60K and the highest was $800K. Global Head HR compensation A total of 00 Global Heads of H.R. were surveyed and asked what their total compensation was for the year st Jan 0 st Jan 03. Only organisations with at least 50 employees worldwide were included. Again fixed and variable levels were recorded. Results are displayed below: Total Compensation of Fintech Global Head's HR in $0-49K $50-99K $00-49K $50-99K $ K $350K+

7 The lowest total compensation earned by a Head HR was $95K with the highest being $.9 million. Fixed salary details for Global Head s H.R. is shown in the graph below: Fixed (Basic) Salaries of Fintech Global Head's HR in $0-99K $00-49K $50-99K $00-49K $50-99K $300K+ The lowest fixed salary paid to a CFO annually was $80K and the highest was $400K. Sales Executive Compensation A total of 00 sales executives were surveyed and asked what their total compensation was for the year st Jan 0 st Jan 03. In total sales executives were surveyed from different companies. Only sales executives carrying a personal sales quota were considered and not those who were paid based on performance of a sales team (i.e. Managers of sales teams paid on team performance were excluded). All sales executives required at least 5 years professional sales experience (mean value was.6 years). Fixed and variable compensation levels were recorded. Results are displayed below:

8 Total Compensation of Sales Executives in Fintech for $0-49K $50-99K $00-49K $50-99K $ K $ K $ K $ K $m+ The lowest total compensation for a sales executive was $93.5K with the highest sales executive earning $.63 million. Fixed salary details for these sales executives are shown in the graph below: Fixed (Basic) Salaries of Sales Executives in Fintech for $0-99K $00-9K $0-49K $50-69K $70-99K $00-49K $50K+ The lowest fixed salary paid was $76K and the highest fixed salary paid to a sales executive was $75K.

9 Contacts To find out more about this survey, or to discuss any of the findings please contact: Jas Singh Managing Director Iopa Solutions Tel: Fleet Street, London, EC4A AB Iopa Solutions helps organisations who are seeking to hire the top performing executives in business. We have a strong track record of success with extensive expertise and global networks within the international executive community. Our success is based on a unique and evidence based approach to the hiring process and since our inception in 007 we have a 00% success rate of filling retained search assignments. Tell us what matters to you and find out more by visiting us at This publication has been prepared for general guidance on matters of interest only, and does not constitute professional advice. You should not act upon the information contained in this publication without obtaining specific professional advice. No representation or warranty (express or implied) is given as to the accuracy or completeness of the information contained in this publication, and, to the extent permitted by law, Iopa Solutions does not accept or assume any liability, responsibility or duty of care for any consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this publication or for any decision based on it. 03 Iopa Solutions. All rights reserved. Not for further distribution without the permission of Iopa Solutions.