The salaries of Colombian top executives andThey are at the level of those received by those of Mexico and Brazil.
This is determined by the “2023 Latam Remuneration Study” of Page Executive, a recruitment line specialized in senior management professionals from PageGroup.
(Read: High inflation would be affecting the credibility of central banks).
For this report, more than 2,000 executives were consulted, evidencing the labor and remuneration trends that will be held for this year. Senior executives from countries like Colombia, Argentina, Brazil, Mexico, Chile and Peru.
“This study analyzes the reality of business leadership positions in the region to help draw an accurate picture within the corporate environment. The main findings of this are key to making the right decisions at an organizational and professional level, contributing to draw a more accurate labor outlook within business environments. In this way, we analyze the reality of executives so that they can evaluate their professional career and compare the salaries and benefits offered by all types of industries, throughout the region.”, said Gustavo Moreno, Senior Associate of Page Executive.
Regarding the salaries of senior executives, it is detected that they are usually among the highest remunerations in the region for all the positions evaluated, which which places the country with the remunerations of Brazil and Mexico.
For example, in a company that bills 50 million dollars, a Chief Executive Officer (CEO that corresponds to executive president, general manager or general director) You can have a fixed salary that ranges between 40 to 45 million pesosand a variable income that can be around between 20 and 30% of that amount, according to the study.
“Undoubtedly, Colombian talent stands out in the region and that is something that the market compensates through the salaries paid for positions such as CEO or Country Management.”, says Paola Pulgarín, Senior Partner of Page Executive.
(Read: Colombia, the country with the highest inflation in Latin America during 2022).
In his opinion, top national executives not only usually have training in the best national and international academic institutions, but also have a profile that is nourished by the solid business trajectory that have produced centuries-old companies and also several unicorns.
In the southern cone of the continent, In Colombia, it is where the best salaries are offered for the positions of Chief Financial Officer, Chief Operational Officer and Chief Technology Officer, said the expert. These positions correspond to the heads of the financial, operational and technological areas.
Likewise, according to the Page Executive study, Latin American executives receive, in addition to their salary, various types of compensation associated with their role that are highly valued.
Incidentally, this type of remuneration modality is used by companies as a way to build and maintain a feeling of belonging and organizational culture, so that employees strengthen their commitment and decrease turnover rates, says Page’s study. Executive.
(See: This is how the Latin American left impacts investments in markets)
When the executives consulted about compensation were asked, 67.8% responded that the benefits are “important or very important” when accepting a management position.
The the most common are medical expenses insurance for 92%; and for 70.9% life insurance. Then there are 52.7% company cars (52.7%); food vouchers (51.8%) and gasoline vouchers (48.7%).
There is an assessment of the charges that arise
Topics like concerns for the well-being of collaborators and clients, the execution of social responsibility strategies business or the need to manage large volumes of data, set a trend and have caused the emergence of new positions that have gained ground.
This is how, according to the perception of those surveyed, in the case of the region, the positions that have positioned themselves the most are: Chief Data Officer (50.9% of the participants consider it so), Chief Sustainability Officer (48.8 %), Chief Strategy Officer (42.5%), Chief Customer Officer (25.2%) and Chief User Experience Officer (24.9%).
In the particular case of Colombia, the positions of Chief Data Officer, Chief Sustainability Officer and Chief Strategy Officer, among others, dominate.
CONSTANCE GOMEZ GUASCA
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