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ELFA Releases Compensation Report for Small and Medium-Sized Equipment Finance Businesses

Posted 10/01/2018

WASHINGTON, D.C. – Today the Equipment Leasing and Finance Association released a report detailing compensation practices at small and medium-sized equipment leasing and finance companies. The 2018 Small and Medium Enterprise Compensation Survey reveals trends in pay—including salaries, bonuses, benefits and commission—at bank, captive and independent equipment finance companies with annual volumes (new origination) under $250 million.

The report is based on a survey of ELFA member companies conducted by Vault Consulting, LLC. A total of 47 companies participated in the survey. The respondents reported 1,174 full-time employees for 19 specialized revenue and support positions, ranging from CEO to collections staff to sales staff. The data are displayed by company type, new business volume, region and market segment.

Highlights from the survey include:

  • The 5 highest paid positions, based on average total compensation, were CEO/President, Head of Sales, CFO, Senior Sales Representative and Head of Credit. Total compensation is based on average base salary and average bonus/commission.
  • A bonus/commission was reported for 88% of the submitted employees. Bonuses and commissions as a percentage of base salary were higher in 2018 compared to 2017. Higher bonus/commission activity is a sign of a healthy industry.
  • Among executive leadership, the top factors determining bonus and commission included profitability, portfolio growth, development of market, and client and managerial effectiveness.

How to Access the Report

The 2018 Small and Medium Enterprise Compensation Survey is available for purchase from the ELFA website at www.elfaonline.org/data/market-trends.

About ELFA

The Equipment Leasing and Finance Association (ELFA) is the trade association that represents companies in the $1 trillion equipment finance sector, which includes financial services companies and manufacturers engaged in financing capital goods. ELFA members are the driving force behind the growth in the commercial equipment finance market and contribute to capital formation in the U.S. and abroad. Its 575 members include independent and captive leasing and finance companies, banks, financial services corporations, broker/packagers and investment banks, as well as manufacturers and service providers. For more information, please visit www.elfaonline.org.

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Author
Amy Vogt
Organization
ELFA