WTW’s analysis of executive perks among the S&P 500 based on 2023 proxy statements revealed these (among other) key takeaways:
Number—83% of CEOs and 81% of other NEOs were provided at least one perk, with two perks being the most common practice for both CEOs and other NEOs.
Prevalence—Personal use of corporate aircraft, financial/tax planning, and executive physicals were the most prevalent perks for CEOs and other NEOs, respectively, as shown here:
Value—While personal use of corporate aircraft is the most pricey perk, with a median value for CEOs of nearly $132K, one-third of companies that offer this perk disclosed limits in the form of a fixed dollar amount or number of hours, at a median of $190K and 75 hours, respectively.
Of the 7% of companies that disclosed changes to their perk programs in 2023, 41% eliminated a benefit, 32% established a new perk, and 27% updated an existing benefit.
Access additional resources on our Executive Pay page »Perks.
This post first appeared in the weekly Society Alert!