Small rewards for small business

December 1997
Management Services;Dec1997, Vol. 41 Issue 12, p4
Academic Journal
This article comments on the earnings of managers employed in various small companies. The Smaller Business Review, launched by the Institute of Management (IM) and Remuneration Economics, shows that executives in smaller companies has received 6 percent increase in their salary during the year 1997 as compared with the national average of 6.4 percent. IM research during the past few years has revealed a skills deficit in Great Britain's small businesses. This deficit is constraining their profits and pay. The bonus culture is making a comeback. Forty percent of managers in small companies are now receiving bonuses. The amount of bonus paid has also increased from 9.1 percent of average salary to 11 percent. The typical manager in a small organization now earns an average of £30,960 boosted to £31,962 with a bonus included. During the year 1997, women managers has performed slightly better than their male counterparts with an average increase in earnings of 6.6 percent in comparison to 6 percent for men.


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