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Fewer Raises and Bonuses Awarded to CFOs Last Year

Fewer Raises and Bonuses Awarded to CFOs Last Year

A recent survey conducted by CFO Magazine suggests that half of responding financial chiefs did not receive raises in 2010, with many saying they did not receive bonuses either.

According to the publication, the survey was conducted in response to another recent poll by MyCFONetwork indicating that 40 percent of CFOs had not been given raises in 2010. In CFO Magazine's study, 45 percent of finance bosses reported they did not receive bonuses, although it was rare for the executives to not receive either a raise or bonus in 2010.

Still, the compensation was there for a smaller sect of CFOs, as 17 percent of the 125 individuals contacted by CFO Magazine said they were given raises higher than 5 percent of their salaries. Only 4 percent of those surveyed said they garnered raises of between 0.1 percent and 1.9 percent of their salaries.

The figures demonstrating a lack of bonuses and raises during 2010 were released just following a BDO USA study that found financial chiefs on average make approximately 40 percent as much as chief executive officers.