According to a new report in the seventh edition of the research, the total salary of Ibex managers fell by 23% in 2022, and in the case of a continuous market, this decrease was 10% compared to the previous year. Remuneration of executives of listed companiespublished this Monday by KPMG Abogados. The decline in wages is due to a reduction in share payments and contributions to retirement or savings plans. The document is prepared by looking at the information published by companies in the compensation reports they submit to the National Securities Market Commission. 34 of these listed companies belong to Ibex, representing different sectors (energy, construction, distribution, tourism, etc.), number of employees (less than 50 to more than 2,000) and turnover (less than 100 million euros to 2,000 between) more than 5,000 million Euros).
“A smaller portion of outstanding charges arising from long-term incentives have been resolved in 2022. The TSR indicator used to determine what managers do also needs to be taken into account. It is linked to stock market indicators and was affected by Russia’s invasion of Ukraine and inflation last year.“says Mónica San Nicolás, director of the Human Services area for General Remuneration of Directors and Managers at KPMG, in conversation with ‘active people’.
Moreover, The research found an overall decrease in total compensation for all positions on the board.some increase in permanent market fixed wages due to salary increases and a slight decrease in Ibex 35. This is because the 2022 variable charge is reduced at both the listed Ibex 35 and the Ibex 35. The continuous market significantly influences the CEOs of the continuous market and the managing directors of Ibex.
Another trend identified by this report relates to the stability of the number of directors in listed companies. “The boards of directors of most Ibex 35 companies consist of 12 people, in the permanent market the figure is set at nine.” Mónica San Nicolás explains. However, in the Ibex 35 financial sector, the number of directors often exceeds 12 people. “This makes sense because it is a pretty complex industry,” says San Nicolás.
Lack of transparency in pricing
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The report does not require external advice or lack of transparency Who these consultants are for the design of the compensationFailure to comply with the recommendations of the CNMV. The study also shows that the gender gap on boards has widened for the second year in a row, despite European directives seeking to promote equality and remuneration transparency on boards of listed companies. In the Ibex 35 sample, only 11 companies (32% of companies) comply with the female representation percentages set by regulations. In the continuous market situation, only 14 companies (16% of groups) are up to date on gender issues.
Regarding the wage gap between men and women that has increased again in 2022, Mónica San Nicolás explains that these are explained by problems related to the different profiles between the positions held by women and men in companies. “Issues such as experience also affect”Saying that the later inclusion of women in company management is one of the reasons that may explain these differences, San Nicolás explains: