May 21, 2024
Perks: Practices Among the S&P 500
WTW recently reported on perks practices at S&P 500 companies in 2023. Here are some notable statistics:
– 83% of the S&P 500 disclosed at least one perk for their CEO
– 81% did so for other NEOs
– The median aggregate S&P 500 spend for executive perks was approximately $223,000 for all NEOs combined
With the large sums reported in the media recently for aircraft use alone, that last number surprised me!
7% of companies made adjustments to their perks program in 2023. Of those:
– 41% eliminated a benefit
– 32% established a new perk
– 27% updated an existing benefit
Eliminated perks were most likely to be allowance-based, indicating companies “opted for a more structured approach to granting executive perquisites.”
– Meredith Ervine