The majority of IR practitioners from Australia and New Zealand feel they are inadequately paid for their work, according to new research from the Australasian Investor Relations Association (AIRA).
In AIRA’s sixth annual remuneration and responsibilities study, 43 per cent of respondents say they are under-remunerated, up from 33 per cent in 2010.
By contrast, the number of IROs who feel they are adequately remunerated has fallen to 40 per cent from 52 per cent last year. The remaining 17 per cent believe they are well or very well remunerated.
Driving home the dissatisfaction over pay, the report notes that the factor most likely to prompt a respondent to change jobs is more remuneration.
Excluding bonuses and long-term incentive packages, the median pay range for IROs stands at A$225,000-A$275,000 ($238,000-$291,000) – a level it has remained at since 2006.
Market capitalisation affects how much pay individuals receive, finds the study. Those in companies with a market cap of A$3 bn or below have a lower median pay band of A$175,000-A$250,000.
Respondents at companies with a market cap above A$5 bn record a median pay level of A$275,000-A$375,000, a jump from the 2010 range of A$250,000-A$325,000. IROs at companies smaller than $5 bn record the same median pay band as last year.
Despite pay holding steady for most respondents, IROs did report an increase in the number of bonuses. Overall, 87 per cent of respondents say they get short-term bonuses, a rise from 77 per cent in 2010, while 84 per cent say they receive long-term incentives, up from 73 per cent.
The study canvassed responses from 61 IR practitioners at companies in the ASX 200 index. The full report is available from the AIRA website.
[Article by Tim Human, Inside Investor Relations]