Second Annual Franchise Compensation Report Released
(ARLINGTON, Va.) - The "Franchise Compensation Report for 2010" has been released in time for 2010 budget planning, announced FRANdata President and CEO Darrell Johnson. This report based on the survey conducted in July of 2009 includes compensation details about a wide range of positions at franchisors including C-Suite, Franchise Operations, and Corporate Administration.
Designed for Human Resources management and hiring managers, the report looks at department heads and professional staff across 11 job functions: compliance, field operations, franchise development, legal, marketing, site selection, training, and for the first time in the report series C-Level Executives, Accounting, HR and IT. Job descriptions and data is provided for each job function including salary average and median, starting base pay, bonus and other cash, and total cash. Data is additionally grouped and analyzed by industry, population density, and size of franchise system.
"This report is timely given the new trend in the marketplace to make decisions based on empirical performance," explained Johnson. "Management needs to know that salaries for new and existing employees are in line with industry standards."
Some of the key findings of the 100-page report include: the average overall compensation for CEO's is $348,003. General Counsels had the highest average compensation of all of the department heads followed by the Vice President of Franchise Development who received more than one-third of their income from commissions on average.
The Compensation Report is available for purchase online at http://www.frandata.com/shopping/products/ReportDetail.aspx?productID=26288. The cost of the report is $850.00 with two-thirds off the original price given to survey participants.
A second report using data from this same survey designed to help a system plan and budget for growth is expected in October.
The survey was performed by FRANdata in partnership with AKRON Inc., a company specializing in compensation studies.
Source: FRANdata (www.frandata.com); AKRON Inc. (www.akroninc.net)
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