According to the 2015 Equipment Leasing and Finance Association, total compensation on a “same-store” basis was up 3% in 2014, fueled by a fifth straight year of year-over-year increase in new business volume.

The survey, which measures compensation rates for the 2014 fiscal year as reported by 70 equipment leasing companies, said that middle and back-office staff received increases of approximately 2%, with direct origination receiving the greatest boost.

Despite a rise in overall compensation, salary budgets remained tight, with salaries increasing by 2.8%, with larger increases given to infrastructure staff.

Generally, banks awarded higher levels of compensation relative to captives and independents. At more junior levels in infrastructure and origination roles, however, total compensation and salary rates tended to be comparable.

In 2014, ELFA’s Monthly Leasing and Finance Index (MLFI-25) reported that cumulative new business volume rose 8% over 2013.