If you want to keep getting raises, get promoted to senior management. As tough as the economy has been, people in executive positions saw their paychecks increase by an average of 6.6% this year, to $108,800. That’s according to data just released by Compdata Surveys, a national compensation survey and consulting firm in Olathe, Kan.
Compdata looked at base salaries for 26 senior management jobs below C-level. For the eighth consecutive year, commercial lending directors take the top spot, with the highest average paychecks. They are earning $143,700, on average, in 2012, up from $139,000 last year.
“Commercial lending directors hold the top spot again this year and have for many years. Although their salary did take a slight hit during the recession, it was minor compared to other senior management positions,” says Amy Kaminski, a vice president at Compdata Surveys. “This is likely because of the nature of their work.”
Commercial lending directors are responsible for the development, administration and oversight of commercial lending policies. “Since a large number of new businesses fail within the first five years, a lot of pressure is put on commercial lending directors to ensure the loans they are granting are sound,” Kaminski adds. “The recession only amplified the difficulty of this position as the qualifications to obtain any type of loan became more rigid.”
Ranking second on the list, engineering directors are making an average of $131,300 this year, up 7.4% from 2011.
“Engineering directors have always been one of the higher paid senior management positions,” Kaminski says. “Engineers are in great demand, and finding a person with the right combination of education, experience and leadership skills to oversee a company’s engineering activities can be difficult. Now, with speculation of an engineering shortage looming, compounded with an increased emphasis on growing the manufacturing industry…
Read more: Jacquelyn Smith, Forbes