Compensation Snapshot
The 2023 Small and Medium Enterprise Compensation Survey reveals trends in pay—including salaries, bonuses, benefits and commission—at bank, captive and independent equipment finance companies. According to the survey, the five highest-paid positions, based on average total compensation, were CEO/President, Head of Sales, CFO, Senior Sales Representative and Head of Credit.
Portfolio Health
According to the 2023 Survey of Equipment Finance Activity (SEFA) and the SEFA Interactive Dashboard, delinquencies declined slightly from 2021 to 2022, but overall portfolios remained strong at 97.7% current.
November MLFI Year-Over-Year
See details at www.elfaonline.org/data/MLFI
New Business Volume
Aging
Charge-offs
Credit Approvals
Employment
Coming in for a Soft Landing
The U.S. economy likely averted a recession in 2023 and appears to be on track for a “soft landing” in 2024, according to the Foundation’s 2024 Equipment Leasing & Finance U.S. Economic Outlook. The report forecasts real GDP growth of 1.7%, and 2.2% real equipment and software investment growth this year.
Industry Confidence Steady in Q4
This is according to the Foundation’s Monthly Confidence Index for the Equipment Finance Industry. The index reports a qualitative assessment of both the prevailing business conditions and expectations for the future as reported by key executives from the $1 trillion equipment finance sector. Overall, confidence in the equipment finance was 40.1 in October, 42.8 in November and 42.5 in December 2023.
