Although executive perks are declining overall, one of the more common perks offered to executives is financial planning services. Indeed, about 29% of companies in the S&P 500 provided some form of financial planning perk to executives last year, according to Main Data Group.
The perk is more common among the largest companies: of the NEOs in the S&P 100, 39% received financial planning perks as part of their compensation package in 2020, according to an Agenda analysis of data from public company intelligence provider MyLogIQ. Within that group, companies disclosed the discrete value of the financial planning perk for 71% of the NEOs, with the median financial planning perk falling at $12,031.
One reason that financial planning services are more commonly offered to executives than other perks such as country club memberships or event tickets is that they provide a material benefit to the company, according to Irv Becker, vice chairman at Korn Ferry’s executive pay and governance practice.
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