Does Job Title Impact Your Financial Benefits as a Retail Professional?
As a part of our continuing coverage of Total Retail’s Salary Benchmark Report, this week we take a look at how your job title may affect the financial benefits that you receive.
The first annual Salary Benchmark Report was produced after an online survey was sent to the Total Retail audience over a two-week time period. It resulted in 660 responses, which the analysis contained in the report is based upon.
The following chart depicts how job title impacts financial benefits received (click on the chart for an expanded view).
While more directors and managers answered the survey than any other job titles, it's those at the top — C-suite retail executives — that receive the most financial benefits on a proportional basis. Which, when you think about it, makes sense. The higher you climb the corporate ladder, the more benefits you'll receive along the way.
Below are some of the key takeaways from the chart:
- Of the respondents that are vice president and above, 43 percent receive stock options, 38 percent get a share of company profits, and 31 percent will receive a pension.
- Thirty-nine percent of managers that responded said they will receive a pension and 36 percent of managers that responded said they're being paid commissions for their work.
- While there's a drop-off in financial benefits received from C-level to managers and associates, it's not a steep as one would expect.
For more of these valuable insights into retail executives’ salaries, download Total Retail’s Salary Benchmark Report today! This comprehensive research report can help you maximize your earning potential, as well as enable employers to benchmark their compensation packages against the rest of the marketplace — a critical component to retaining valuable executive talent.