Toronto Board of Trade

Toronto Board of Trade

October 04, 2007 08:40 ET

Toronto Executives Averaging 5.1% Raises This Year

Toronto Board of Trade reports majority also getting bonuses

Attention: Business/Financial Editor, City Editor, News Editor, Government/Political Affairs Editor TORONTO, ONTARIO--(Marketwire - Oct. 4, 2007) - The Toronto Board of Trade's latest compensation surveys for the Toronto region show that area executives received an average wage hike of 5.1% this year. The annual surveys, covering more than 50,000 employees, show that most executives in our region also received a bonus or incentive payment.

"The average increase on base salary this year is higher than last year when executives received a 4.8% average raise", notes Mary de Reus, Vice-President of Information Services at the Board of Trade, "The percentage of executives getting a bonus or incentive payment also increased slightly, from 60% to 61%. Clearly, bonuses are now a core component of executive compensation in our region."

Other results from the six-volume set of compensation and benefits data include:

- High technology companies are leading the pack - their salary increases this year average a whopping 6.5%
- Manufacturers of non-durable goods (such as apparel, food, drugs and forest products) are paying the lowest average hike at 4.1%
- Administrative and support staff, including clerks and secretaries, are receiving average salary increases of 3.3%
- Two-thirds (67%) of the organizations surveyed offer a bonus/incentive plan for executives and the majority of executives in those organizations (91%) actually did receive a bonus.

More information about Toronto's most comprehensive surveys of salary and employment practices, including an order form, is available at www.bot.com/compsurveys. Further comment from Mary de Reus can be found on the Board Blog at www.bot.com/blog.

The Toronto Board of Trade is the champion of a competitive and vibrant Toronto with a mandate to serve, connect and represent the city's business community. Founded in 1845, Canada's largest chamber of commerce operates at locations across Toronto.
/For further information: www.bot.com/media/ IN: ECONOMY, FINANCE, POLITICS

Contact Information

  • Glen Stone, Public Affairs Director, Toronto Board of Trade
    Primary Phone: 416-862-4565
    Secondary Phone: 416-998-9458
    E-mail: gstone@bot.com