KPMG/Brightlights Salary Survey for Growing Technology Companies
in the Toronto and Kitchener/Waterloo regions
If you’ve ever tried to source salary information, you know how difficult it is to find local benchmarks. There are all sorts of variables in most surveys including: company size; whether the company is B2B or B2C; location and cost of living; availability of talent, etc.
That’s why KPMG and Brightlights put together this compensation survey focused on growth technology companies within the Toronto and Kitchener/Waterloo area.
We categorized companies into small (<25 employees), medium (25-100) or large (>100). We did this to ensure that our averages weren’t skewed by very large or very small employee samples. We made it hyper-local for the GTA and KW region. Over two hundred surveys were sent out with a response rate of approximately 25%.
In addition to executive salaries for CEO, CFO, CTO, VP Sales and VP Marketing, we sought insights on ESOP Programs, Benefits Plans as well as Board information.
A few of the interesting numbers which we uncovered:
- Less than 20% of tech companies tie performance to stock options. Perhaps tying options to specific outcomes might act as more of a motivator to drive performance.
- 50-75% of tech firms have ESOP programs in place. Since few options ever generate the returns that people hope for, perhaps it’s time to consider other options for attracting talent.
- There’s a significant jump in executive salaries as companies grow. If you’re a growing firm, you want to make sure that your hiring processes and ability to sell yourself are clear and crisp. You simply won’t be able to compete on pure salary.
We hope you find the information useful. If you have any questions on the survey or other insights around hiring and/or optimizing the use of your people, feel free to contact me. We have 25 years of recruiting experience to bring to bear.