June 16, 2024
News

Executive salaries decrease by 5% in 2023

While base salaries and stock awards saw an increase, a decrease in bonuses led to a 5% drop in compensation for auto finance executives in 2023, as per an analysis of SEC filings by Auto Finance News. The combined total compensation for 28 executives at publicly traded auto finance companies went down to $104.9 million compared to $110.8 million in 2022.

FAQs

What contributed to the decline in auto finance executives’ compensation in 2023?

The decline in compensation was primarily driven by smaller bonuses, even though base salaries and stock awards increased.

How many executives were included in the analysis?

A total of 28 executives at publicly traded auto finance companies were part of the analysis.

Conclusion

Despite an increase in base salaries and stock awards, a decrease in bonuses resulted in a 5% decline in total compensation for auto finance executives in 2023. This highlights the importance of considering all components of compensation when analyzing executive pay trends.

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