Compensation in the equipment finance industry increased moderately in 2019, according to the 2020 Equipment Leasing and Finance Compensation Survey from the Equipment Leasing and Finance Association and McLagan. Industry new business volume totals exceeded prior year growth, contributing to a moderate rise in compensation.
The 2020 Equipment Leasing and Finance Compensation Survey measured compensation rates for the 2019 fiscal year as reported by more than 75 equipment finance companies representing a cross section of the equipment finance sector, including independent, bank and captive equipment finance companies. Firms provided data for more than 20 executive, front-office and support positions and 10 levels of seniority, including a breakdown of salary (for 2019 and 2020), incentives (including cash bonuses and commissions), long-term awards and total compensation by company type. The survey is a collaborative initiative between ELFA and McLagan, a performance/reward consulting and benchmarking firm for the financial services industry.
Highlights from the 2020 Equipment Leasing and Finance Compensation Survey
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