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 2019 Small and Medium Enterprise Compensation Survey
reveals trends in pay—including salaries, bonuses, benefits and commission—at bank, captive and independent equipment finance companies.
The report is based on a survey of ELFA member companies conducted by Vault Consulting, LLC. A total of 51 companies participated in the survey. The respondents reported 1,171 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, Team Leader and Senior Sales Representative. Total compensation is based on average base salary and average bonus/commission.
- Compared to the last SME Compensation Survey in 2018, the average total compensation of the top 5 positions changed by the following percentages: CEO/President +19%; Head of Sales 0%; CFO +28%; Team Leader +8%; and Senior Sales Representative -10%.
- A bonus/commission was reported for 82% of the submitted employees. A total of 87% of sales staff received a bonus/commission and 8% were indicated as commission only sales staff.
- The top quantitative factor used to determine executive leadership incentives was profitability (89%) and the top qualitative factor was managerial effectiveness (67%).
How to Access the Report
The 2019 Small and Medium Enterprise Compensation Survey is available for purchase from the ELFA website.
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.