The salary figures for the 2010 study originated from the 20,000+ contact maintained by Executive Quest through its newsletter subscriptions. Newsletter subscriptions are free and available through www.execq.com
Fort Myers, FL (July 3, 2010) — Keith W. Trowbridge, Ph.D. president of Executive Quest, Inc. www.execq.com has announced the results of the annual salary survey of the timeshare/vacation ownership/fractional, hospitality industry.
The salary figures for the 2010 study originated from the 20,000+ contacts maintained by Executive Quest through its newsletter subscriptions. Unfortunately, not all the categories from last year were among this year’s participants. We do appreciate all participants and would like to request we have more contributions next year. Each person who was involved in the survey has been emailed a copy of their category. A full copy of the salary study may be purchased at www.execq.com/salarystudy.htm
The survey includes 25 categories from Sales, Marketing, Finance, Human Resources, Resort/General Managers, CEO’s, CFO’s, etc. What you see on the spreadsheet are the Minimum, Maximum, Mean figures for each column of compensation – Salary, Commission, Bonus, Non-Cash Perks and Total Annual Compensation. The same holds true for the other columns of Years in the Industry, Resort Locations, Units and Total Annual Company Revenue.
The industry continues to battle the recession and compensation is, in most instances, lower than it was last year. Perhaps, as would be expected, the one area that has taken the largest hit is the category for realtor, real estate developer, sales and broker – an approximate 300% drop in income. On the plus side are sales representatives; however, sales managers and directors took a minor cut in compensation while training specialists and directors saw their compensation increase by over 200%.
Many executives received non-cash perks including a company automobile, health and life insurance, contributions to a 401(k), housing for family/visitors. Relocation expenses and housing for an initial period are also a part of the non-cash perks enjoyed by many. The non-cash perks were converted to a dollar amount and are included in the Total Compensation figures.
We hope this salary study is helpful to you in your operation. We encourage you to use the figures for purposes of budgeting, hiring, promoting and training objectives. Of course, Executive Quest would be pleased to help you in your search for outstanding talent. Contact keith(at)execq(dot)com or jim(at)execq(dot)com.
As these salary studies are important to everyone in the industry, and Executive Quest is the only firm to do an industry salary survey, I highly encourage you to participate in the next salary study.
If you wish to purchase a copy of the 2010 Salary Study, go to www.execq.com/salarystudy.htm and follow the instructions.
Keith Trowbridge, President, keith(at)execq(dot)com
Jim Perkins, Vice President, jim(at)execq(dot)com
Executive Quest, Inc.