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MACVB Compensation & Benefits Presentation

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MACVB Compensation & Benefits Presentation

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This presentation gives an overview of MACVB's first ever Compensation & Benefits Survey. Learn what business model other CVB's are operating under and what the average person in your position is earning in this industry.

This presentation gives an overview of MACVB's first ever Compensation & Benefits Survey. Learn what business model other CVB's are operating under and what the average person in your position is earning in this industry.

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MACVB Compensation & Benefits Presentation

  1. 1. 1
  2. 2. Survey Background Methodology:  Self reporting, sampling, corrupt data Who was surveyed:  54 DMO/CVB Who participated:  38 organizations, 70% response rate 2
  3. 3. Business Model 59% 26% 3% 12% WHAT IS THE BUSINESS MODEL IN WHICH YOU OPERATE? 501 © Incorporated Organization A division of a chamber of commerce A part/division of local government Other 3
  4. 4. Participation 51% 14% 29% 6% TITLE OF CHIEF PAID EXECUTIVE Executive Director President President/CEO Other 29% 29% 26% 16% WHAT REGION ARE YOU LOCATED IN Twin Cities Metro Southern Northwest Northeast 4
  5. 5. Organization Financials 26% 28% 23% 23% INCOME CATEGORY $250,000 & Below $250,001 - $500,000 $500,001 - $1,000,000 More than $1,000,000 17% 12% 17% 54% BONUS OPPORTUNITY CEO only Certain employees only All employees No bonus program offered 5
  6. 6. Compensation ofChief Paid Executive AVERAGE SALARY: $98,678 AVERAGE BONUS: $8,651 6
  7. 7. $250,000 & Below Compensation ofChief Paid Executive AVERAGE SALARY: $54,043 AVERAGE BONUS: $1,333 7
  8. 8. $250,001 - $500,000 Compensation ofChief Paid Executive AVERAGE SALARY: $70,591 AVERAGE BONUS: $3,750 8
  9. 9. $500,001 - $1,000,000 Compensation ofChief Paid Executive AVERAGE SALARY: $76,838 AVERAGE BONUS: $4,391 9
  10. 10. More than $1,000,000 Compensation ofChief Paid Executive AVERAGE SALARY: $137,306 AVERAGE BONUS: $26,336 10
  11. 11. Survey Data Combination $500,001 – More than $1,000,000 Average $52,545 Median $52,000 Community Relations/PR Manager: Annual Base Salary All Income Levels Average $50,202 Median $45,710 Marketing Manager: Annual Base Salary 11
  12. 12. Does yourCVB Directly contribute to the cost of health coverage? $250,000 & Below $250,000 – $500,000 $500,001 – $1,000,000 More than $1,000,000 All Income Levels Yes 33% 10% 50% 100% 46% No 67% 90% 50% 0% 54% *Employees, spouses and/or families 12
  13. 13. CEO Benefits All Income Levels Mobile/Cellular Phone 77% Qualified Retirement Plan 77% Medical 54% Bonus 46% Dental 40% Club (Civic) Membership 40% Life Insurance 37% Long-term Disability 31% Short-term Disability 31% Health Savings Account 29% Vision Plan 23% Paid Parking 23% AutoAllowance 20% Tuition Reimbursement 20% Long-term Care Plan 14% Cafeteria Plan Reimbursement 14% HealthClub Membership 9% Furnished Auto 9% Club (Social) Membership 6% Commissions 3% 13
  14. 14. Retirement Plan 86% 14% DOES YOUR CVB OFFER A QUALIFIED RETIREMENT PLAN? Yes No 14
  15. 15. What percent of yourChief Paid Executive’s salary is matched for a retirement plan by the employer? $250,000 & Below $250,001 - $500,000 $500,001 - $1,000,000 More than $1,000,000 All Income Levels Average 3% 3% 4% 4% 3% Median 3% 3% 3% 4% 3% 15
  16. 16. Acquire the Survey  Organizations who participated will receive a code for a complimentary copy.Those who did not participate can purchase the report for $50. 16
  17. 17. Thank you Questions? 17

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