If you want better pay, you may want to keep “innovation” out of your title. And avoid assuming the mantle of “chief innovation officer” entirely.
That was one of the findings of the compensation survey we fielded from July 1, 2016 to Sept. 30, 2016, which analyzed the base pay and bonuses of nearly 250 executives responsible for innovation at large corporations. The survey aimed to provide insight into how innovation executives at large companies are compensated. It included responses from a diverse group of people responsible for innovation within their companies.
That included individuals running — and working on — innovation programs, R&D teams, strategy, accelerators, and a diverse range of programs aimed at generating next-generation product and service offerings. Since the survey included data from executives with disparate titles and reporting structures, we’ve tried to provide insight on how those individuals are compensated based on their seniority, departments, and even bosses.
For context, the average base salary of all respondents was $174,898. That includes individuals from the C-Suite down to the manager level. The average bonus comprised 30.1 percent of base salary, or $61,465. Innovation executives who had SVP or EVP in their title had an average base salary of $282,733; VPs averaged $194,759.
Table of Contents
Salaries by Function 2
C-level Executives 4
SVPs and EVPs 7
Vice Presidents 8
Senior Directors and Directors 10
Senior Managers and Managers 12
Respondent Recommendations 14
About the Data 19