In order to know what are the perspectives, challenges and projections that the senior executives of countries in the region, Page Executive (recruitment line specialized in senior management professionals from PageGroup) carried out the ‘Remuneration Study 2023 Latam’, in which more than 2,000 executives were consulted.
(See: Salaries of top executives in the country stand out in Latin America).
According to the information, the salaries paid to top executives in Colombia they are usually within the three highest in the region. In addition, it is the country in which the best salaries are offered for the positions of Chief Financial Officer, Chief Operational Officer and Chief Technology Officer.
“Senior Colombian executives not only usually have training in the best national and international academic institutions, but also have a profile that is nourished by the solid business trajectory that has produced centuries-old companies and also several unicorns.”, expressed Paola Pulgarín, senior partner of Page Executive.
According to the study, the salary of a Chief Executive Officer (president, manager or general director) can range from 40 million pesos in a company that bills about 50 million dollars at a salary of 70 million pesos if the billing reaches 201 million dollars.
(See: These are the best paid jobs in the country for this 2023).
A Country Manager (country manager) can go from 30 to 50 million pesos and a Chief Financial Officer (CFO) (director, manager and finance vp) is in a range of between 35 and 60 million pesos.
For example, a Chief Human Resources Officer (director or manager of Human Resources) can go from 30 to 55 million pesos and a Chief Technology Officer (IT Manager or Technology Manager) from 35 to 70 million pesos.
In addition to salary, according to the study, executives in the region receive various types of compensation that companies use as a way to build and maintain a sense of belonging and organizational culture.
67.8% of them answered that the benefits are “important or very important” when accepting a management position. The most common are: medical expenses insurance (92%), life insurance (70.9%), company car (52.7%), food vouchers (51.8%) and gasoline vouchers (48 .7%).
(See: The highest paid positions and jobs in Colombia for 2022 and 2023).
Employment and wages.
Main employment trends of senior managers
The study found that in response to a changing labor market, leadership positions in companies in the region have expanded beyond traditional positions associated with management, finance, human talent or marketing and that areas of organization management that previously went unnoticed have been prioritized.
Currently, topics such as concerns for well-being, the execution of corporate social responsibility strategies or the need to manage large volumes of data are setting the trend. For this reason, positions have been created such as: Chief Happiness Officer, Chief Sustainability Officer and Chief Data Officer.
(See: This is the salary of an astronaut who works for NASA).
According to the perception of the respondents, the positions that have gained the most ground are in the region They are: Chief Data Officer (50.9% of the participants consider it so), Chief Sustainability Officer (48.8%), Chief Strategy Officer (42.5%), Chief Customer Officer (25.2%) and Chief User Experience Officer (24.9%).
A ranking that in the particular case of Colombia, it is led by the Chief Data Officer, Chief Sustainability Officer and Chief Strategy Officer.
WEATHER – ECONOMY AND BUSINESS
