| Show CEOs Prefer Perks Like Company Car 1FIRST With Own Phone Over Salary Hikes Cindy Skrzycki Washington Post Writer WASHINGTON — Lee Iacocca may be pulling down $18 million a year in salary and bonuses but his counterparts in the rest of corporate America want you to know how the other half lives The median salary for chief executive officers at the nation's small and medium-size- d firms — those with sales of less than $100 million — is $139000 a year according to the National Institute of Management which surveyed 562 companies on the subject If that seems like a weekly allowance compared with Iacocca's take it should But this cadre of executives doesn't seem to mind They prefer the executive perk things like wining and dining on the corporate expense account driving a company car and socializing on company-paicountry club memberships In fact many executives at smaller By dude liability insurance for tives and telephone credit cards Off the top 10 perk list are supplemental medical insurance company paid parking supplemental retire- - 71) () - c - - ' À ': 4”- V!'''' 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PLAZA Drive four-whedrive Audi Quaffro from Steve Clifford Motors at ordinary car prices $2500 - :N ::4 Aggressive concessions and make FIRST INTERSTATE - & ia - - 1) — nt 1 p Prestigious location Attached parking terrace Professionat business environment Proven property management "Intelligent" building systems New Tenants' Health Club Competitive lease rates ' 111kle 11111 - ti FIRST INTERSTATE PLAZA has only a few suites remaining - s ts---nr-771 e't ff1144Pxge" - 4o-- ::- 41111511111111111111111111111111111111111111 Consider our Tr xrr ROGERS & ANDERSON At Law tT into the business which they may just happen to own themselves "Perks are more valuable to them than to larger company executives because their personal compensation is not that exorbitant" said Harry H Linowes managing partner of BDO Seidman an accounting and consulting firm that cosponsored the survey along with the Research Institute of America "They of necessity cannot afford to lay out of their own pockets for some of these most important things in life — an automobile a phone in the car or being able to belong to a country 972-464- - Consulting Actuaries 0 - - - firms are willing to forgo compensation in favor of plowing profits back ' ' WILCOX & COMPANY '' 1 particularly private The corporate perks which averaged $7000 per executive are a sign of the times Four years ago the use of car phones didn't even register on the survey's hit parade Today car phones are number nine on the chart with 31 percent of the institute's members offering them to one or more executives As recently as four years ago offering tax preparation assistance to executives was not a big seller Now thanks partially to the complications of dealing with the Tax Reform Act of 1986 some 32 percent of companies offer tax help pared with 25 percent in 1987 The use of entertainment expense accounts also has gained in popularity — 67 percent of the companies offered some form of them in 1988 compared with 54 percent in 1987 This includes everything from credit cards for personal use to country club athletic and dining memberships to first class business travel The perk to watch according to the institute is personal computers Currently 13 percent of executives have the luxury of working at home on a personal computer either paid for or provided by the company Other perks on the cutting edge in e MN '''' - - d companies INTERSTATE PLAZA) Attorneys ' 71"1""6"1211184861"1"1"Vgd3M" F7 Sunday February 26 1919 proudly announces our newest tenants or interest-frecounseling the company car garages of seven Mink s Bus-nes- ment plans low loans and financial The old stalwart is still found in the of 10 executives execu- The Salt Lake Tribune ever-improvi- to make good things il egqai Lin IA G'K ! f f 1 ra rt ri ri 1 i 11 r I: tclj (1112 iJ rD k'L'i 7D id & 1 1 ! 1' ) - LIGHT COMPANY '''' ' 4 - |
