According to the 2022 Equipment Leasing and Finance Compensation Survey released by the Equipment Leasing and Finance Association, compensation in the equipment finance industry returned to steady increases in 2021. New business volume increased over 7% in 2021 after a notable decline in 2020 — and compensation followed a similar trend. The survey is part of the Knowledge Hub, ELFA’s source for business intelligence on the equipment finance industry.

Highlights from the 2022 Equipment Leasing and Finance Compensation Survey include:

• Total Compensation: Total compensation increased on a year-over-year basis for most functions and levels. On a “same store” basis (constant incumbents in multiple survey years), total compensation was up approximately 4-6% at median for key revenue-generating functions from 2020 to 2021.
• Salary: On a “same store” basis, salaries for origination roles increased (~2-3%) at the median from entry through senior expert levels.
• Differences by Level: Total comp increases increased notably (~5-10% increases) across all levels from the entry through expert levels at the median. Total comp increases were even higher at senior and managing expert levels (over 10%).
• Leadership: At the executive level, cash bonuses for the 2021 performance year accounted for 40% of Executive compensation while long-term awards accounted for 24%. Total incentives, both cash bonus and long-term awards, as a percent of salary were 174% at the median.