NIRI White Paper: 2014 Compensation and the IRO

National Investor Relations Institute 2014 White Paper on the Investor Relations profession and compensation trends (10/2014).
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     © 2014 National Investor Relations Institute 225 Reinekers Lane, Suite 560 Alexandria, VA 22314 (703) 562-7700 Compensation and the Investor Relations Profession 2014 Study Results By Ariel Finno, Director-Research (  ) A NIRI White Paper    NIRI White Paper: Compensation and the Investor Relations Profession-2014  © 2014 National Investor Relations Institute National Investor Relations Institute (NIRI) - Korn Ferry International Corporate IR Profession and Compensation Study Results Presented here are key findings from the 2014 NIRI-Korn Ferry International Corporate IR Compensation and Profession Study research project. Data from our previous biennial compensation efforts can be found on the NIRI website. 2014 Key Findings   Base salaries of corporate investor relations officers (IRO) rose for the second consecutive survey year, to an average of $187,691. The median base salary was $184,500 (Standard Deviation (SD) =$71,984). After adjusting for inflation, this is a two percent increase from 2012 average base salary data ($179,404).   Average cash bonus in 2013 was $69,061 (Median=$50,000, SD=$62,353), and $65,185 (Median=$45,000, SD=$63,198) in 2012.   The average salary plus bonus (or, total annual cash compensation) increased to $256,760, up from $251,094 in 2012.   The median base salary for men was $195,000, and was $159,010 for women (23% difference). Reviewing NIRI compensation data, over the last 19 years there has been a 67% decrease in the pay gap between men and women IROs.   The overall base salary average for all IROs located outside of the U.S. was $170,916 (Median=$157,500, SD=$83,309).   For the first time since 2008, investor relations (IR) budgets saw slight shifts downward, as a greater percentage of respondents were in the lower budget ranges across all market cap sizes 1  for 2014 than in either 2012 or 2010.    The average number of IR employees (excluding administrative and ‘other’ staff) was 2.24 (SD=1.564). When including administrative and ‘other’ employees, the average number increases slightly to 2.82 (SD=2.012).   The MBA remains the most common advanced educational attainment for those in the IR field. The number of IROs that report holding the Chartered Financial Accountant (CFA) credential has increased 175% since 2007.   The most popular additional benefits are 401(k) plans (86%), health insurance (83%), and life insurance (65%), with other benefits significantly trailing. 1  Survey Definitions: Micro-cap: <$250 million in market-capitalization, Small-cap: $250 million-<$2 billion, Mid-cap: $2 billion-<$10 billion, Large-cap: $10 billion-<$25 billion, Mega-cap: $25 billion+.     © 2014 National Investor Relations Institute Base Salary Compensation Corporate IR base salaries rose for the second consecutive survey year, to an average (mean or M) of $187,691 (Median of $184,500). Between 2012 and 2014 average base salary increased approximately five percent (from a 2012 average of $179,404). The proportion of respondents in higher base salary ranges continues to climb. The current year’s results (201 4) were bi-modal, with 22% of respondents between the $150,000 to $185,000 range, and another 22% between the $240,000 and above range. The maximum reported base salary range for the 2014 survey rose back up to $475,000-$500,000 (last seen in 2010), an increase over 2012 compensation survey results.  Average Base Salaries of Corporate Investor Relations Officers by Year Cash Bonus Received The vast majority of respondents (92%) received a cash bonus (excluding long-term incentive plan pay-outs) in both 2013 and 2012. Cash bonus averages in 2013 were $69,061 (SD=$62,353), and $65,185 (SD=$63,198) in 2012. For 2013, 50% of IROs received a cash bonus of $50,000 or above. In 2012, approximately 50% received a cash bonus of $40,000 or above.     © 2014 National Investor Relations Institute Cash Bonus Received by Corporate IROs by Year Total annual cash compensation combines current base salary average with the most recent cash bonus (2013) average. Thus, the average salary plus bonus received for IROs increased to $256,760 in 2014, from $251,094 in 2012.


Jul 23, 2017
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