The CEO of a company that operates for the financial sector earn 53,6 times a new hire. This is a higher pay gap than in other sectors where the pay gap between those at the top and the latest arrivals in the company is significantly lower. In the industry and services sector, for example, the gap indicating the difference between the salary of the CEO and the young graduate is 35,6 times in the first case and 32,6 in the second.
This data comes from a OD&M Consulting report, a Gi Group company which carried out a survey on salaries in 2013. The information processed by Gi Group relates to the top management of a representative group of financial companies listed on the Stock Exchange in Piazza Affari. According to data collected by OD&M Consulting, a managing director in the financial sector earns an average of 1 million and 453 thousand euros compared to the 27 thousand and 148 euros of the recently hired graduate. The pay gap between an industry manager with an average salary of 920 and 282 euros is less wide, compared to the 25 and 830 euros of the new employee. The gap narrows even further if we consider the salaries of CEO and new employee in the service sector where, compared to a salary of 799 thousand and 750 euros for the former, an annual salary of 24 thousand and 533 euros for the latter corresponds.
The report also underlines the drop in the salaries of some types of managers compared to the monitoring carried out by the consultancy firm for the year 2012. On average, there is a drop of 4,3% which affects the sectors being analyzed across the board. Furthermore, according to OD&M Consulting, the variable part of the salaries of the CEOs suffered a drop of 7,9%, while the fixed part would have suffered a drop of 4,3%. On the other hand, the salaries of general managers and corporate executives with strategic responsibilities went against the trend, with their salaries increasing by 2012% and 10,3% from 10,4 to the following year.
