Although executive perks are declining overall, one of the more common perks offered to executives is financial planning services. Indeed, about 29% of companies in the S&P 500 provided some form of financial planning perk to executives last year, according to Main Data Group.
The perk is more common among the largest companies: of the NEOs in the S&P 100, 39% received financial planning perks as part of their compensation package in 2020, according to an Agenda analysis of data from public company intelligence provider MyLogIQ. Within that group, companies disclosed the discrete value of the financial planning perk for 71% of the NEOs, with the median financial planning perk falling at $12,031.
One reason that financial planning services are more commonly offered to executives than other perks such as country club memberships or event tickets is that they provide a material benefit to the company, according to Irv Becker, vice chairman at Korn Ferry’s executive pay and governance practice.
Boards have been steadily reinforcing their ranks through the addition of more directors with military…
Governance Professionals Caution Against Knee-Jerk Reactions to Shifting Political Winds Meta Platforms added Dana White,…
Where CEO pay climbed and performance sank last year Danaher and United Parcel Service were…
As artificial intelligence grows more accessible, boards may have no choice but to embrace it…
A look at the demographics and skills of S&P 500 directors. Corporate boards have greater…
Companies with independent directors who've served on the board for more than 15 years are…