Compensation levels in the equipment leasing and finance industry trended upward in 2010, according to the 2011 Equipment Leasing & Finance Compensation Survey released by the Equipment Leasing and Finance Association.
From 2008 to 2009, new business volume across the equipment finance industry fell 30% and total compensation declined across the industry. However, from 2009 to 2010, new business volume improved by 9%, which translated to relatively modest total compensation growth across the industry.
The survey measures compensation rates for the 2010 fiscal year as reported by more than 50 equipment finance companies representing a cross section of the equipment finance sector, including small-ticket, middle-market, large-ticket, bank, captive and independent leasing and finance companies. Market data for more than 90 executive, front-office and support positions is provided, plus a breakdown of salary, incentives (including cash bonus and commission), 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 survey include:
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