Toronto Board of Trade

Toronto Board of Trade

October 19, 2006 08:08 ET

TORONTO EXECUTIVES AVERAGING 4.8% RAISES

Toronto Board of Trade also reports more than half receiving bonuses

Attention: Business/Financial Editor, City Editor, News Editor, Government/Political Affairs Editor TORONTO--(CCNMatthews - Oct. 19, 2006) - The Toronto Board of Trade's annual Executive Compensation Survey finds Toronto business executives received average pay raises well above the inflation rate last year, and more than half were given performance bonuses.

"This year's survey shows executives received an average pay hike of 4.8% across all industries, and that 60% of Toronto executives received bonuses for 2005," says Mary de Reus, Vice President of the Board of Trade. "Performance-based bonuses continue to play an integral part in executive compensation."

The 2006 survey, capturing information about more than 1,400 executives in the Toronto region, found 68% of Toronto companies offer bonus systems and 88% of their executives received a bonus payout based on performance in the previous year. In other words, bonuses were paid to 60% of all Toronto executives.

The survey found major differences in pay raises between sectors. Executives in the high technology, finance/insurance and business services sectors got the biggest raises last year, averaging 5.5%, while those in the transportation/ warehousing/ communications/ utilities sector had the lowest average - 4.1%.

The six-volume annual survey, released every Fall since 1960, covers nine major industry groupings and hundreds of job classifications, and is known as the most comprehensive of its kind in Toronto. It helps organizations determine if they are offering competitive compensation and benefits.

Further comment and analysis from Mary de Reus is available 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, represent and unite the city's business community. Founded in 1845, the non-profit organization represents 10,000 members with 500,000 employees, and operates at four locations across Toronto. Further information about Board events, policies, advocacy and products is available on its website at www.bot.com.
/For further information: www.bot.com/media/ IN: ECONOMY, FINANCE, POLITICS

Contact Information

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