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Paychex Pay Relies More on Incentives

Martin Mucci, PaychexPaychex rewarded its executives with compensation that reflected an increased reliance on variable pay for the year ended May 31. Compensation for CEO Martin Mucci and two other executives rose by low double-digits, but their base salaries decreased. The increases came from significant boosts in non-equity incentive compensation.

Mucci received $6 million from all sources, up 14.1 percent from $5.3 million the prior year. His base salary dropped to $824,000 in 2014 down 5.2 percent to $870,231 for fiscal 2013. However, this non-equity incentive pay rose to $1.2 million, a 44.2-ercent hike from just over $856,000. His stock awards also increased 10 percent to $2.7 million from $2.5 million.

The picture was the same for CFO Efrain Rivera. His overall compensation of $1.7 million was 19 percent higher that the $1.5 million earned in 2013. However, his base salary of $425,000 for 2014 was down from $441,346 the prior year. His gains came from incentive pay of $418,285, up 62.8 percent from $256,955.

Compensation for Mark Bottini, SVP of sales, hit $1.7 million, an 18-percent hike from $1.4 million. His base salary of $425,000, the same as Rivera's, dropped from the same base in 2013. His incentive pay was $391,298, an increase of 58.2 percent over $247,265.

The exception to the base salary decline was Michale Gioja, SVP of information technology, product management and development whose base rose to $396,923, an increase of 4 percent from $361,346. His total compensation rose to $1.7 million, up 23.1 percent from $1.4 million.

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