Business

CEOs of venture-backed companies get 8 percent raise

CEOs of Southeastern companies backed by venture capitalists received an average salary of $224,000 this year, up 8 percent from 2012, according to a new survey.

Those same CEOs received an average annual bonus of $108,000 this year, virtually unchanged from $109,000 a year ago, according to the latest annual survey conducted by Raleigh law firm Hutchison and Morrisville executive search firm Carlyle Conlan.

“One of the key issues for emerging growth technology and life science companies is attracting and retaining top-level executives,” the report states.

The latest survey, sent to more than 300 companies in seven southeastern states, received 54 responses. The companies surveyed have received at least $500,000 in funding from venture capitalists or angel investors. Half the companies surveyed have raised less than $10 million in funding, while 8 companies have raised more than $51 million.

The CEO salaries ranged from zero — yes, zero — to $550,000. Annual bonuses ranged from $17,990 to $300,000.

As you would expect, the larger and more advanced the company, the higher the salaries. The average salary for a venture-backed company with more than 100 employees was $302,000 this year.

The average salary for chief financial officers this year was $178,000, versus $171,000 in 2012. The average annual bonus for CFOs this year was $57,820.

The survey also brims with optimism for the future.

Eighty percent of the companies surveyed intend to offer their employees salary increases in 2014, up from 65 percent that boosted salaries this year.

Similarly, 75 percent anticipate adding workers in 2014 up from 60 percent this year.

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