The term benefits package usually brings to mind cash compensation for the average worker. This may include salary, bonuses, and stock options. But, getting to the executive ranks means compensation p🧸ackages change substantially.

Upper-level managers, particularly chief executives, are often granted an exclusive set of non-cash benefits. These perks may not always be cash, but they can be very valuable. Despite losses in the financial sector, many executives still receive huge bonuses and perks. Here are some common perks enjoyed by 澳洲幸运5开奖号码历史查询:chief executive officers (CEOs).

Financial Counseling and Tax Preparation

Compensation packages can be very complex. That's because they get an annual salary and may also get other perks, including large year-end bonuses, stock options, and other incentives. This can make it tricky to deal with when the time comes for these executives to 澳洲幸运5开奖号码历史查询:file their annual taxes.

That's why many chief executives are often provided with tax preparation services paid for by their employers. For instance, Occidental Petroleum (OXY) paid over $400,000 in 2008 for professional services to handle CEO Ray Irani's financial issues.

Security

Some of the biggest companies in the world have very high-profile CEOs. Consider Tesla (TSLA) CEO Elon Musk and Meta's (META) head, Mark Zuckerberg. Because of the nature of their businesses and the decisions they make, many firms recognize that their CEOs need protection. This may come in the form of p꧟ersonal security details and home security monitoring services.

But, how much does it cost? According to Visual Capitalist, Meta spent the most money providing security for Zuckerberg, shelling out $23.4 million in 2023. Alphabet's security costs to protect CEO 澳洲幸运5开奖号码历史查询:Sundar Pichai were $6.8 million while Tesla spent $2.4 million in 1013 to protect Musk.

Office Space

People who lead companies usually don't work in a cubicle. Rather, they're often the subject of envy of most workers, getting that sweet corner office on the top floor of a tall skyscraper. Others may choose a different location that is more convenient to them.

Wherever they work, the executive suite often comes with the freedom to select executive décor, and the company foots the bill for each executive's fancy furniture. Former Merrill Lynch CEO, John Thain, made headlines in 2008 for adorning his office with over $1 million worth of pricey furnishings. Thain's indulgence reportedly included an $87,000 area rug and a $1,400 trash can.

Cars and Drivers

Despite media🐬 attention paid to corpo🐼rate jet travel, many CEOs are provided with ground transportation perks, which often include the use of company cars. Other similar perks may include privileged parking, or a dedicated car and driver.

Studies indicate that these perks are less frequent than the use of private jets. According to research firm Equilar, "automotive perks" were lower in its 2021 report. This figure was around $20,000 for CEOs.

Corporate Aircraft

Many CEOs are allowed to use the corporate plane for personal travel. They are given a monetary limit in their benefits package. This includes 🌃bri🍨nging family and friends on board for travel and even business trips.

According to The Wall Street Journal, spending on corporate jets increased by 50% since before the COVID-19 pandemic hit. The publication's research showed that S&P 500 companies spent as much as $65 million in 2022 for CEOs and other executives to fly on 澳洲幸运5开奖号码历史查询:private jets. This included use for both corporate and personal purposes.

Country Club Fee Reimbursement

Overall, instances of this long-standing perk appear to be dwindling, however some companies still foot the bill fo꧟r such social and leisurely activities. One commonly provided excuse for f𝕴ooting country club fees is that consorting with fellow executives can help build business and new relationships.

Gifts for the Road

By way of retirement benefits and pensions, some CEOs manage to collect bigger paychecks after their jobs are done. In 2016, Former Boeing (BA) CEO, W. James McNerney Jr., departed the company with a compensation package worth $19.9 million.

The Bottom Line

Special treatment and privileges are often reserved for 澳洲幸运5开奖号码历史查询:high-level employees and members of any organization. While the perks in this list may be considered normal in executive circles, members of the general public tend to disagree. While public disdain may have caused some companies to 澳洲幸运5开奖号码历史查询:scale back executive compensation i♍n recent years, CEO 🤡perks remain in a class of their own.