ELFA Launches Compensation Study for SME Equipment Finance Businesses
OCT 3, 2017 - 6:38 am
The Equipment Leasing and Finance Association released a new report detailing compensation practices at small and medium-sized equipment leasing and finance companies. The 2017 Small and Medium Enterprise (SME) Compensation Survey reveals compensation trends, including salaries, bonuses, benefits and commission at bank, captive and independent equipment finance companies with annual volumes (new origination) under $250 million.
The new report is based on a survey of ELFA and National Equipment Finance Association (NEFA) member companies conducted by Vault Consulting. A total of 50 companies participated in the survey. The respondents reported 1,223 full-time employees for 18 specialized revenue and support positions, ranging from CEO to collections staff to sales staff. The data are displayed by company type, new business volume, region and market segment.
“We’re pleased to offer this new tool to help industry executives track trends in pay at small and medium-sized equipment finance companies,” said ELFA President and CEO Ralph Petta. “Whether companies are looking to assess their own salary and benefits packages or develop new compensation strategies to recruit and retain skilled employees in a competitive marketplace, this report will provide valuable intelligence. We’re especially grateful to NEFA for collaborating with ELFA on this initiative.”
This year has kept the equipment finance sector on its toes with a massive banking crisis, continually rising interest rates and consistent concerns about an economic recession. Equipment finance companies and their customers are continuing to deal with the pressure... read more
When building out the branding for Monitor’s two-day 50th anniversary celebration, the Monitor team wanted to make sure what the event was called reflected its purpose as well as the current moment in equipment finance. Converge emerged as the perfect... read more