Executive pay tends higher on East, West Coasts
Peabody, Mass. — A survey of executive compensation practices in firms ranging from $250,000 to $25 million in sales shows exectives on the East and West Coasts earning more than their counterparts in the Central United States.
According to the second edition of the Growth Resources Officer Compensation Report, West Coast chief executive officers earn an average of just over $106, 000 annually. Their counterparts on the East Coast average in the mid-to-high $ 90,000 range, While executives in the Central US report compensation in the low
The survey also shows different compensation levels between urban and rural areas. Compensation for unban-based chief executives is approximately 10 percent above that of their rural counterparts, mainly due to h higher urban living costs.
The survey attributes regional differences in executive pay to generally higher costs of living on the coasts, significantly higher housing costs in California, and specialized training -- commanding larger salaries -- associated with high-technology firms concentrated in the East and West