What sort of things do some of the largest CEOs in the country receive as part of their compensation benefits? It's not always evident what is necessary and what isn't, and of course it's a lot easier to scoff at these things from the outside. All the same, your company can keep an eye on these things in order to make sure they are accurately responding to high qualities of executive experience.
24/7 Wall St. examined some of the more notable examples of perks that go beyond the basics. Premium health and life insurance, as was awarded to the CEO of Level 3 Communications, may seem relatively obvious, but in this case the departing executive of that company had a $100,000 benefit, said to be commensurate to his salary.
On the other hand, there is Lawrence Ellison, the CEO of Oracle, who reportedly was able to get his own home's security system – worth more than a million dollars – chalked up to the company dime, as well as personal air travel. And the head of Wynn Resorts, Steve Wynn, had access to his own grand house in Las Vegas.
Earlier this month, the Economic Policy Institute found that CEO compensation in general has risen by more than 37 percent in the past four years. If this is true, then there's a chance that executive search consultants might offer the perspective you need to gauge your own plans for rewarding incoming executives, especially if you're unsure as to what the standards are. Whatever is chosen, though, should always match the value of the person in question.
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