We are pleased to announce the release of our 2023 Salary Insights Report, taking an in-depth look at the latest On Target Earnings (OTEs) for C-level roles.
As the first public offering from the newly formed Ennis & Co Intelligence division, Salary Insights 2023 aggregates a range of salary levels for the leader of each of the key corporate functions in the automotive industry, together with the latest information on additional benefits.
Salary benchmarking is just one of the bespoke research services that our Intelligence division can now provide to ensure automotive leaders are plugged into the latest developments in the market. Alongside our salary research projects, we offer bespoke assignments such as talent mapping, competitor analysis and succession planning.
The information about salaries and benefits in this report is based on data gathered over the past year. This has been compiled by the in-house Ennis & Co Intelligence team from the remuneration packages of executive candidates in their existing roles, the packages being offered by hiring companies and conversations with clients and industry contacts.
Lynda Ennis, Co-Founder and CEO of Ennis & Co Group, said: “The incredible pace of change in the automotive and mobility industry means businesses face a constant challenge when it comes to remuneration.
“The combination of a global talent shortage and the growing need for new skills to drive the transformation taking place in the industry has fuelled spiralling wage inflation. Having access to the very latest salary information has therefore become essential as businesses compete with automotive rivals and other sectors for the brightest talent.
“This is especially true at senior leadership level, where we have seen huge rises both in base salaries and benefits over the last two years. It is no exaggeration to say that some senior candidates that we have placed with clients have been able to double their remuneration package by moving companies.
“As executive search specialists working in the automotive and mobility sector, we are constantly being asked by our clients about real-time salary data.
“We thought it would be a useful exercise to take a snapshot in time and look at On Target Earnings (OTEs) for C-level roles as of August 2023.
“We hope that this state-of-the-nation benchmarking study will help our clients to make informed budgeting decisions and manage internal expectations. “
Along with the salary data, the report includes information about additional benefits. One of the key trends highlighted in the data is that although base salaries remain high, greater weight is being placed on KPI-related bonuses.
Our Intelligence team’s research expertise is helping businesses to future-proof their talent needs and keep ahead of the game. We also provide consultancy on talent acquisition strategy and remuneration policies such as the development of target-driven, performance-related incentive schemes across different areas of the business.
