Effects of the current economy on the automotive sector are reflected in declining bonuses among marketing executives, but manufacturing bonuses benefited from implementing leaner, more efficient processes, according to 2002 Executive Compensation and Benefits Practices of Automotive and Heavy-Duty Products Manufacturers, an annual compensation survey by the Motor & Equipment Manufacturers Association (MEMA).
Bonuses among executives in marketing services composite dropped from $18,000 in 2000 to $16,000 in 2002, while manufacturing executives saw their bonuses increase from $14,000 in 2000 to $22,000 in 2002.
Total compensation for marketing executives rose from $73,000 in 2000 to $84,000 in 2002, while manufacturing executives saw their compensation climb from $76,000 in 2000 to $92,000 in 2002. The MEMA study defines total compensation as salary and bonus for executives receiving bonuses, or salary only for those not receiving bonuses.
MEMA members may receive 2002 Executive Compensation for $350; non-members can order the survey for $500. Orders can be placed through www.mema.org by clicking on “Publications.”