The Equipment Leasing and Finance Association has released a new report detailing compensation practices at small and medium-sized equipment leasing and finance companies. The 2017 Small and Medium Enterprise (SME) Compensation Survey reveals compensation trends—including salaries, bonuses, benefits and commission—at bank, captive and independent equipment finance companies with annual volumes (new origination) under $250 million.
The new report is based on a survey of ELFA and National Equipment Finance Association (NEFA) member companies conducted by Vault Consulting, LLC. A total of 50 companies participated in the survey. The respondents reported 1,223 full-time employees for 18 specialized revenue and support positions, ranging from CEO to collections staff to sales staff. The data are displayed by company type, new business volume, region and market segment.
“We’re pleased to offer this new tool to help industry executives track trends in pay at small and medium-sized equipment finance companies,” said ELFA President and CEO Ralph Petta. “Whether companies are looking to assess their own salary and benefits packages or develop new compensation strategies to recruit and retain skilled employees in a competitive marketplace, this report will provide valuable intelligence. We’re especially grateful to NEFA for collaborating with ELFA on this initiative.”
The 2017 Small and Medium Enterprise Compensation Survey is available for purchase from the ELFA website at www.elfaonline.org/data/market-trends.