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EXECUTIVE COMPENSATION & RECRUITMENT TRENDS LATIN AMERICA 2020

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EXECUTIVE COMPENSATION &RECRUITMENT TRENDSLATIN AMERICA 2020

| 3 www.hays-executive.com

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ABOUT HAYSTHE ART AND SCIENCE OF RECRUITMENTWe add value to our clients and candidates search experience through our Find & Engage model.

We Find talent by combining our recruitment expertise with cutting edge software and systems.  

We Engage our network by sharing tailored insights, advice and opportunities at the right time through nurturing technology.

We Match the right talent to the right opportunity using our years of specialist recruitment experience.

FIND

ENGAGE

M ATCH

ABOUT USHAYS EXECUTIVE

OUR PARTNER

Hays Recruiting experts worldwide operates in 33 countries around the world, sharing years of knowledge and experience. We are centrally networked to provide a seamless global executive service, wherever you are.

Hays Executive recruits for private and public sector employers from around the world, identifying talented senior managers and board directors. We are a specialist executive search and selection practice that addresses the need for inspirational leadership capital in Public Services, Finance, Technology, Telecommunications, Industrial, Manufacturing and Media sectors through our operations and relationships in Europe, Asia Pacific, North America and South America. In Latin America, we operate in Brazil, Chile, Colombia and Mexico.

Our consultative method and ability to assess when to approach senior leaders with a suitable opportunity has earned us a reputation for discretion and sound judgement – and, most importantly, achieving results for the talented people who place their career in our hands.

INTRODUCTION

This guide has been compiled using data gathered from May through June of 2019. The survey findings are based on the response of over 1,900 executive leaders across Latin America. This report will provide relevant insights about compensation and recruitment trends in the executive market.

The salary data is based on job listings, job offers, and candidate registers. While every care is taken in the collection and compilation of data, this report is interpretive and indicative, not conclusive. This information should be used as a guide only.

WomenCorporateDirectors (WCD) Foundation is the world’s largest membership organization and community of women corporate board directors. WCD helps its members improve their international knowledge and connections while enabling them to have more impact and influence on public policy and in the boardroom.

WCD members are champions for change, progressive thought-leaders, and advocates for accelerating best practices in global governance. Smart boards are going global in members and mindset. The WCD community provides a platform for turning ideas into action—an impact that reaches beyond their membership, to the larger world of corporate governance and its stakeholders worldwide.

WCD represents the preeminent women leaders in business today. With 80 chapters around the world, WCD members serve on thousands of boards across six continents. Their members include CEOs, lead directors, C-Suite executives, board members, and heads of global divisions in the major indices, such as S&P 500, FTSE 250, DAX, Nikkei, and beyond.

MissionAs the preeminent organization for women directors globally, WCD seeks to:• inspire visionary boards worldwide by providing education and tools that keep members engaged, informed and high-performing as directors• foster a powerful, trusted, global community of influential women corporate directors• increase the representation of women on boards and in board leadership positions• increase the pipeline of qualified female board candidates

Gender diversity in the workplace continues to be a topic of discussion especially as it pertains to implementing processes to ensure progress in the right direction. In this edition, Hays has partnered with WomenCorporateDirectors (WCD) to provide further insights as to the progress of gender diversity issues in Latin America.

womencorporatedirectors.org

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The past year has been interesting across Latin America. With political uncertainty in all major economies, the role of the executive has never been more challenging. This year, we spoke with over 1,900 executives about these challenges, and their outlook, heading into 2020. Our 2019 report seeks to share these findings, but also raises some important topics for us all to consider as we plan for success in the coming year.

Definitively, 70% of respondents saw major challenges ahead stemming largely from a combination of global and local economies heavily influenced by the political climate. However, almost one third of executives stated that technological developments posed an issue for the future with 59% feeling that business model innovation and general digital transformation (46%) were going to be essential to overcome these.

We also noted that 42% of businesses either don’t have or were not aware of a diversity & inclusion policy within their organization. This highlights a significant opportunity for businesses to improve their talent capability. This is particularly interesting when traits around emotional intelligence, adaptability and driving cultural change dominated the skills for future preparedness. A healthy and diverse business environment has clear links to an organizations ability to adapt, change and think differently.

Finally, whilst most people felt they were paid fairly, compensation is still a major reason to consider a job change. However, lack of development opportunities were the number one driver.

All this combined means another interesting and challenging year ahead for executives in Latin America. For that reason, there’s no better place to be!

JONATHAN SAMPSONManaging Director, Hays Latin America

FOREWORD

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of executives consider emotional intelligence as the most necessary skill to be prepared for the future

70%

of executives believe that the next two years will be challenging in terms of new job opportunities

70%

of executives plan to join a board of directors in the future89%

of companies have a Diversity & Inclusion strategy57%

of executives would leave their current role for career development opportunities

64%

CONTENTS KEY HIGHLIGHTS

Demographics

Educational Background

Job Market Outlook

Workforce Trends

Compensation & Benefits

Gender Diversity

Career Advice

Building your personal brand

How to get appointed on a board of directors

Getting on a board

Salary Range by Country

Brazil

Chile

Colombia

Mexico

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DEMOGRAPHICS

Number of years in an executive position

Gender

Age groups

 Male

 Female

81%

Current management level

0

10%

20%

30%

40%

50%

60%

70%

Director/VP Owner OtherC-suite/MD

22%

More than 16 years

26%

11 - 15 years

21%

0 - 5 years

31%

6 - 10 years

19%

With significant transformations in the world of work, discussions around diversity in the workplace have increased especially as it relates to productivity improvement, talent attraction and retention.

See how companies are taking action on diversity and inclusion within their organizations courtesy of WCD on page 10.

Up to 35 years 36 - 39 years 40 - 50 years 51 - 60 years 61+ years

7% 10% 53% 26% 4%

Current industries worked in

Financial Services, Insurance

13%Consumer Goods

12%Business-to-business

10%Energy, Oil & Gas

10%Life Sciences, Health Care

10%

Agribusiness

3%Consumer Services

3%Industrial Goods

& Services

3%Basic Materials

2%

Technology & Telecommunications Professional Services

9%Retail

7%Construction, Infrastructure,

Real Estate

7% 7%Other

4%

Country of residence

Mexico

45%Chile

12%Colombia

30%Others

3%Brazil

31%

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Area of specialization in studies

12%

Highest level of education achieved

High School Diploma

31%Doctorate or PhD

2%Bachelor’s Degree

22%Master’s Degree

75%

Sales

Accountancy & Finance

Marketing, PR & Communication

Financial Services

Engineering

Office Administration

Logistics

Information Technology

Manufacturing

Procurament and Supply Chain

24%

16%

12%

28%

53%

17%

12%

20%

14%

EDUCATIONALBACKGROUND

Many organizations are investing in professionals focused on improving the employee experience. It is crucial for organizations to develop a strong Employer Value Proposition (EVP) and consistently communicate this to staff. It will also be important to communicate this externally in efforts to build a solid employer brand thus helping to strengthen talent recruitment efforts.

JOB MARKET OUTLOOK

70% will be challenging 9% no change21% felling optmistic

Job prospects for executive positions (over next 2 years)

Factors affecting job market confidence**All that apply

Business environment

Local economy

Global economy

Politics

Technological development

Foreign investment

Domestic investment

Labor law

27%

37%

54%

72%

26%

26%

21%

8%

22%of respondents are optimistic about the business environment

Top business challenges faced by organizations*

Attracting the right executive talent

40%Managing for

geopolitical uncertainty

30%Delivery of expected performance targets

27%Digital

transformation

47%Business model

innovation

60%

*All that apply

56%currently work for a public company

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WORKFORCE TRENDS

Top reasons executives would leave current role**All that apply

Development opportunities

Higher Compensation

Poor work environment & culture

Promotion

Flexibility

31%

38%

63%

64%

28%

82%of executives areinterested in workingin another country

In today’s globalized world and with the increase of companies interested in strength their presence in LatinAmerica, we notice the importance of CQ raising. The ability to understand and communicate to multiculturalcontexts and interactions is a crucial skill to high level leaders to develop, which also relates to the mainthree skills seen by executives as the most necessary for the future (emotional intelligence, adaptability andlead cultural change). Cultural Intelligence will ensure that your organization grasp the cultural diversity andleads this to innovation, improved solutions and a diverse and valuable range of information and expertise.

But how can you effectively relate and work with professionals from different backgrounds? Know the fourCQ capabilities that will get you there:

SPOT ON CULTURAL INTELLIGENCE (CQ)

CQ DRIVEShowing interest, confidence, and drive toadapt cross-culturally

CQ STRATEGYStrategizing and making sense of culturallydiverse experiences

CQ KNOWLEDGEUnderstanding cross-cultural issues anddifferences

CQ ACTIONChanging verbal and nonverbal actionsappropriately when interacting crossculturally

Top 10 skills most necessary for executives to be prepared for the future

1 Emotional intelligence 70% 6 A collaborative attitude 54%

2 Adaptability 64% 7 Interpersonal relationship building 49%

4 Decision-making 57% 9 Complex problem-solving 45%

3 A leader of cultural change 62% 8 Negotiation 48%

5 Innovation & ideation 56% 10 Forward-thinking 43%

Languages spoken at a professional level*

English FrenchPortuguese Germany OtherSpanish

*All that apply

92%88%

31%

7% 3% 4%

Cultural intelligence was first developed by Christopher Earley (2002) and Earley and Soon Ang (2003).

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51% feel their compensation package is in line with market rate

42% of executives are unsatisfied with their compensation and believe that it is below market rate

COMPENSATION &BENEFITSCurrent annual base salary in USD (regional)

0Under $115,000 Between

$121,000 and $125,000

Between $126,000 and

$130,000

Between $131,000 and

$140,000

Between $141,000 and

$150,000

Between $115,000 and

$120,000

Over $150,000

Total bonus or variable compensation as a percentage of base salary

Compensation Incentives**All that apply

42% Long-term incentive

30% Pensio plan

29% Hiring bonus

26% Stock options

Compensation packages for an executive role present a breadth of options, but it is important to evaluate both short-term and long-term compensation options, in accordance to your own professional goals and needs.

When evaluating your complete compensation as an executive, do not omit long-term compensation, and this will represent your complete compensation more accurately. As with every company, you will be compensated based on the goals set for the first year, but oftentimes longer-term goals based on a three-to-five year period will yield a substantial percentage of your overall compensation if looked at holistically. When considering a new position, keep this in mind, as you can use this as leverage when requesting a signing bonus.

FEATURED INCENTIVES

10%do not have any short or long-term incentives

VARIABLE COMPENSATION As part of a compensation package, companies often establish periodic (monthly, quarterly, etc.) goals for their Executives, providing variable compensation dependent upon performance. This provides incentives for the executive to reach his/her remuneration goals, while also creating an effective method for the company to reach its goals.

GOLDEN PARACHUTEN “Golden parachutes” are a way for companies to recruit highly skilled and experienced executives by providing them an agreement that financially protects them in case the professional be terminated or forced out of an organization before the end of their contract. This package of benefits can include stock options, multiple years’ worth of full compensation, bonuses, fully vesting in retirement packages and thus,providing the executive with a sense of security in case she/he is unable to reach their previously set goals upon entering the company.

LONG-TERM INCENTIVELong-term incentives generally cover the largest component of executives’ compensation and for that reason is a relevant aspect when attracting these professionals. This mainly refers to stock options, restricted share, phantom shares and performance shares earned over time. This vesting scheme provides employees a large benefit in the long-term, as they are encouraged to stay longer to reap the increasing benefits over the course of time, while also protecting the company from top executives leaving abruptly.

COMPENSATION PACKAGE NEGOTIATIONS

73%41% 30%More than

47%16%

10% – 20% 21% - 30% 31% - 40% 41% - 50%

23%17%

9%6% 6% 6%

33%

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GENDER DIVERSITYPartnership with WomenCorporateDirectors

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Most executives are aware of the strong evidence that proves the link between the fostering of more diverse workforces and inclusive workplaces. The ‘diversity dividend’ which delivers superior financial performance comes via increased creativity, innovation, customer orientation and productivity. This keeps companies in touch with employees, customers and other stakeholders and allows them to meet or exceed expectations.

There continues to be a lot of focus on the need for businesses to achieve a better balance of gender equality throughout their workforces, with a particular focus on increased female representation in senior executive and Board level roles.

Certain countries, such as Norway, have gone as far as passing legislation that requires businesses to achieve a certain ratio in the boardroom. Other countries such as the United Kingdom, have adopted a government endorsed approach of recommended targets which come with a high level of public inspection. Under-pinning these are an increasing number of league tables, power lists and

awards, all of which are designed to shine the light on those organizations who are making positive advancements when it comes to the progression of women into senior leadership roles and equally importantly from a reputational perspective, those who are not.

The current narrative for most sits somewhere between ‘Getting It’ and ‘Getting On’. It is commonplace to see women’s participation and advancement lessen when progressing up through an organization. Participation reduces from 54% at non-managerial levels to 29% at senior management level, and further still to 18% at executive level, or just 12%† in the private sector. The reasons why women don’t access and progress within the world of work at the same rate as men are many and are often embedded within individual, organizational, societal, cultural norms and influences.

Another acknowledged truth in achieving the ambition to become more gender balanced at the top of organizations is that we need to ‘change the system’, ‘not the women’.

Editorial by Yvonne Smith, Group Head of Diversity and Inclusion, Hays PLC

CURRENT LEVEL OF WOMEN AT C SUITE POSITIONS So, how do we move

from ‘Getting It’ to ‘Getting On’?When organizations ask, “Is there one thing can we do to advance our women more quickly?”, our response is that there is no singular magic bullet. Rather, there are a range of well planned, well communicated and well executed interventions that we encourage all employers to consider if they are serious about increasing the number of women in leadership positions and in C Suite. These include:

Encourage an inclusive and respectful culture and call out low lying behaviours that undermine this (often called ‘micro aggressions’ or ‘micro incivilities’).

Offer employees the flexibility to fit the working patterns to their current and future lives e.g. agile working practices.

Getting the basics right—setting internal or public proportional targets, reporting on relevant metrics, and leadership and manager level accountability.

Ensuring that hiring and promotions are fair and inclusive for all credible candidates - checking for any ‘patterns’ which indicate the play through of biases and introducing changes or nudges to existing processes to mitigate the impact of this. This can include inclusion training and support for leaders and managers, name blind CVs, expectation of diverse candidate shortlists and diverse interview panels

Encourage senior leaders and managers to be allies and champions of diversity with e.g. their purposeful communication and active support of mentoring and sponsorship programmes.

Beware of ‘One is Enough’ complacency and box ticking at an organizational level. At an individual level, a single voice can often feel pressure to perform, is on guard, and can be left out.

GENDER DIVERSITY

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Manager level

Operational level

C-Level

Board level

Other

64%

52%

37%

36%

2%

Target group of organizations’ D&I strategy*

Gender diversity in the workplaceThe WomenCorporateDirectors (WCD) has a mission to promote and increase gender diversity in administration councils, especially within executive positions. For this reason, we decided to share our thoughts in this report and heighten awareness on this challenge. WCD supports organizations that are committed to change and we are proud to partner with an executive search company, like Hays, with a truly global, diverse presence. To simply discuss diversity in executive positions is already a win, as this is the first step to recognizing its importance in the world of work and championing the cause. Therefore, it is pleasing to highlight the result of more than 50% of executives in Latin America stating that they work in a company with a diversity and inclusion strategy.

Retaining talent is one of the main reasons why organizations (49%) commit to Diversity and Inclusion in the workplace. A crucial aspect is that companies consider developing and incorporating policies that support a woman’s return to work after maternity leave. Even further, implementing paternity leave policies can also support this. Countries such as Sweden and Iceland have public policy that allows both parents of a new infant to be absent from work for up to 3 months. More recently, the government of Spain, approved the equalization of paternity and maternity leave in the country. – WomenCorporateDirectors

*All that apply

*All that apply

Why organizations are committed to Diversity & Inclusion*

*All that apply

Actions companies are taking to increase diversity*

Has a policy or a specific strategic plan for diversity aligned with the company’s overall strategy

Has a diversity committee with established goals and actions

Mentoring program/Coach counselling

Career Plan/Accelerated Promotion Program

Blind recruitment practices

Quotas at all hierarchical levels

Other

36%

42%

48%

31%

11%

3%

34%

49%

Retaining talent

49% 46%

Better corporate governance

practices/EFG and compliance

38%

Compete globally

Because it is the right thing to do/

Socially fair

Strengthen employer brand

Deepen understanding of customers

34% 2%

Other

22%

According to the results above and our daily experience at WCD, it is clear that diversity is being discussed internally now more than ever before. Multinational companies are implementing policy recommendations globally, international investment funds are demanding the presence of women on the boards of investee companies and institutions are engaged to promote women’s empowerment in business. – WomenCorporateDirectors

of companies don’t have a D&I strategy

32%respondents don’t know for sure if the

company is committed to a D&I

strategy

11%of companies have

a D&I strategy

57%

GENDER DIVERSITY

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What is the percentage of female employees your organization has at:

0 - 20% 21% - 30% 31% - 40% More than 51%41% - 50%

38%

33%

17%

24%

17%19%

16%

11%8%

17%

How many females hold a position on the company board?

19%

13%

23%

25%

20%

0

1

2

3 or more

Unsure

C-level Management positions

GENDER DIVERSITY

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BUILDING YOUR PERSONAL BRAND

How you present yourself, your skills, knowledge and experiences, plays a significant role when comes to building trust with clients and employers – also for getting a new job. Below are five tips from our recruitment experts on how to build your personal brand successfully.

1. KNOW WHAT YOU WANT TO COMMUNICATE ABOUT YOURSELF

First, establish which message you want to communicate and to whom. Same as with a company brand, you will represent a mission as an executive, so dedicate some time to reflect on your purpose, your values and what you want to be known for. And remember that your personal brand has to represent you – projecting your personality and your own voice into your content will set you apart from others in your industry.

2. DEFINE YOUR TOPIC OF EXPERTISE

You likely have acquired a large amount of knowledge and expertise on many topics, but it is better to limit to one or two topics than try to cover everything superficially. This way, you will be able to become a point of reference for people who look for information in that specific field, so that you can be seen as an expert and build trust more easily.

4. DON’T OVERPROMOTE

Building your personal brand is not about promoting yourself at every cost. Professionals will want to hear relevant insights from you, so positioning yourself as a market reference is the best personal marketing you can do. Consider working with a PR agency to build your reputation as an expert. This is a great opportunity to showcase your market knowledge, articulate your values and build credibility in the media.

3. BE A THOUGHT LEADER

Thought leadership is key to building your personal brand. Establish yourself as an industry expert than can provide significant information and solutions by, for example, participating in podcasts, writing a column, speaking at events, holding webinars, and creating and publishing relevant content on social media. Search and follow channels, leaders and pages that discuss and are interested in the same topics as you to find opportunities where you can contribute.

5. LIVEYOUR BRAND

To successfully build your reputation, your brand should not be separated from your personal life, as it is about who you are and what you stand for. Make it your lifestyle and grasp every opportunity to be heard. To build a personal brand requires commitment – after all, you won’t be remembered if you are not up-to-date and engaged with your audience and market.

CAREER ADVICE

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COMPANY BOARDS: WHAT YOU WANTED TO KNOWHOW TO GET APPOINTED

ON A BOARD OF DIRECTORS

CAREER ADVICE

Working on a board is a great opportunity to positively influence change in a company, develop continuous market knowledge, and experience various challenges. As such, becoming a board member is an often-cited next step for many executives. See below what executives can do in order to achieve these goals:

According to the survey, it is clear that there is keen interest from senior level executives in joining a board in the near future. A board position provides professionals the opportunity to contribute their deep knowledge and expertise to various businesses. Leila Loria, VP Administrative Counsellor of IBGC & Co-chair of WomenCorporateDirectors, shares some insights on hot topics and tips.

WHAT ARE THE HOT TOPICS AT THE BOARD ROOM TABLE?

Digital specialistsDespite the fact that digital transformation has been a main business objective over the past several years, true digital expertise is still missing on boards across the region. Conservative viewpoints and aversion to risk-taking may help explain this absence of digital experts in corporate boards, but it is important to keep the discussions alive in order to see these changes fully materialize.

Diversity & Inclusion in the workplaceDiversity especially gender equality has become an increasingly prominent theme in many company boards. “Comply or explain” systems have been implemented in several countries, most notably

in Europe, in which government regulation codes demand that companies have a minimum number of female professionals in their board. The company is then obliged to either comply with this minimum number or explain publicly why there are unable to comply.

Expanding array of expertiseTraditionally formed by ex-CEO and ex-CFOs, corporate boards are starting to change, seeking out professionals from different backgrounds to contribute with their viewpoints and recommendations. Executives from Human Resources, Legal and Marketing, for example, are becoming increasingly important to represent a company board.

Environment, Social and Governance (ESG) criteriaSustainability has been an increasing concern for countries all over the world, and new generations are pressuring brands and companies to purposefully position themselves in the market. The ESG criteria was created to evaluate companies and their actions regarding ecological, social and economic practices. As this consequently influences and dictates considerable financial investment and boards play a significant role in keeping it a core agenda item.

Before evaluating which board you would like to be a part of, it is important to first note that being a board member is very different from occupying executive and C-level positions. Create the mindset that your focus will be on contributing with expertise and experience towards the company’s objectives.

Secondly, understand what is required from a board and evaluate the reasons why you want to become a board member. This work involves several responsibilities, so it is crucial that you evaluate your level of commitment on contributing for the board.

Networking is key. Getting on a board will require that you build a more strategic network, different from the one you currently have as an executive. Connect with shareholders, family companies, Private Equities, and legal professionals that are involved in building boards, and make sure to attend events as well. The objective here should be to become well-known in the market, as a potential board member, and no longer as an executive.

To become a board member (and even after becoming one), consider being part of Corporate Governance programs. This will provide you relevant expertise that can contribute to a company’s board.

Continuous learning is more relevant than traditional education certificates. It is a must to have consistently up-to-date knowledge about the market and different sectors – this will help you find opportunities, solutions and awareness about the current scenario of businesses.

Remember that each board is different, so evaluate which one is more suitable for you. A family company, public company, small company will require different capabilities from you. Use your new network to ask questions to see where you can contribute most and which board is better suited to your profile.

Editorial by Leila Abraham Loria, VP Administrative Counsellor & Co-chair of WomenCorporateDirectors Leila Abraham Loria has ample experience as Executive and CEO, working in family companies, publicly listed companies, as well as multinationals, encompassing the retail, media and telecommunications sectors. She is currently Counsellor of the IBGC - Instituto Brasileiro de Governança Corporativa (Brazilian Institute for Corporative Governance); Cia Paranaense de Energia; Madeira Energia; Casas Pernambucanas; Grupo Marcondes and Co-chair of WomenCorporateDirectors (WCD). She works in Audit, People and Investigation committees, and serves as a mentor for start-ups. Leila holds an MBA as well as advanced courses in Corporate Governance and Risk Management.

39% of executives are currently on a board 89% have interest in joining a board in the future

12

3456

22 | | 23

SALARY RANGES

Based on Hays market insights and expertise, the

following section provides a listing of the typical base

wages for commonly filled professional and skilled staff

roles in:

Brazil

Chile

Colombia

Mexico

A salary range is provided for each role. The first figure

indicates the minimum and the second, the maximum

salary level typically paid in each country.

Salaries are expressed in U.S dollars and local currency

(thousands, monthly gross), and do not reflect any

benefits packages, bonuses, or any other arrangements

between employers and candidates. Annual bonus

guidance is provided as a general percentage range in

each table. This information should be used as a guide

only as it is interpretive and indicative, not conclusive.

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BRAZIL FMCG & RETAIL

Position Monthly Total Compensation (minimum - maximum) Bonus

BR REAL USD %

CEO 58.753 - 111.631 15,461 - 29,376 22%

CFO 52.618 - 87.697 13,846 - 23,078 22%

Finance Director 43.333 - 61.904 11,403 - 16,290 18%

Finance Manager 27.422 - 48.750 7,216 - 12.828 19%

Supply Chain & Operations Director 45.436 - 90.871 11,956 - 23,913 19%

Supply Chain & Operation Manager 23.325 - 40.819 6,138 - 10,741 22%

Commercial Director 38.086 - 76.171 10,022 - 20,045 28%

Commercial Manager 33.178 - 47.002 8,731 - 12,369 26%

Corporate Affairs Director 44.099 - 66.149 11,605 - 17,407 27%

HR Director 41.068 - 71.185 10,807 - 18,732 27%

IT Director 30.239 - 65.977 7,957 - 17,362 27%

Development & Expansion Director 27.352 - 66.860 7,197 - 17,594 19%

Legal Director 32.008 - 58.195 8,423 - 15,314 23%

LIFE SCIENCES

Position Monthly Total Compensation (minimum - maximum) Bonus

BR REAL USD %

Managing Director 46.772 - 93.544 12,308 - 24,616 38%

CFO 44.099 - 88.198 11,605 - 23,210 35%

Finance Director 42.095 - 54.122 11,077 - 14,242 20%

Finance Manager 29.157 - 34.988 7,672 - 9,207 22%

Commercial Director 28.485 - 61.718 7,496 - 16,241 37%

Commercial Manager 28.865 - 43.297 7,596 - 11,394 23%

HR Director 24.762 - 59.428 6,516 - 15,638 34%

Legal Director 32.072 - 48.108 8,440 - 12,660 29%

Legal Manager 23.672 - 38.468 6,229 - 10,123 21%

Supply Chain & Operations Director 29.297 - 46.875 7,709 - 12,335 22%

IT Director 30.839 - 49.342 8,115 - 12,984 18%

Corporate Affairs Director 36.081 - 48.108 9,495 - 12,660 47%

Medical Affairs Director 43.431 - 86.862 11,429 - 22,858 42%

Market Access Director 47.249 - 62.999 12,434 - 16,578 42%

Business Unit Director 32.801 - 87.470 8,631 - 23,018 27%

CONSUMER & LIFE SCIENCES

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FINANCIAL SERVICES

Position Monthly Total Compensation (minimum - maximum) Bonus

BR REAL USD %

CEO 49.214 - 131.237 12,951 - 34,536 56%

CFO 23.496 - 126.880 6,183 - 33,389 38%

Business Development VP 34.917 - 54.704 9,188 - 14,395 23%

Compliance Director 26.328 - 53.853 6,928 - 14,171 20%

Controllership Director 33.779 - 52.415 8,889 - 13,793 23%

Audit Director 27.798 - 54.387 7,315 - 14,312 20%

Investor Relations Director 35.320 - 60.897 9,294 - 16,025 19%

M&A Director 39.832 - 72.421 10,481 - 19,058 20%

Risk Director 36.413 - 57.799 9,582 - 15,210 23%

Treasury Director 39.120 - 71.128 10,294 - 18,717 23%

Audit Head 25.623 - 30.503 6,742- 8,027 19%

FP&A Head 24.054 - 48.108 6,330 - 12,660 20%

Head Cash Management 20.446 - 39.689 5,380 - 10,444 20%

Head of Accounting 23,129 - 52,040 6,086 - 13,694 20%

Head of Private Banking 38.568 - 56.646 10,149 - 14,906 20%

Head of HR 27.490 - 36.654 7,234 - 9,645 19%

Head of Risk Management 25.636 - 42.518 6,746 - 11,188 17%

Head of Tax 22.551 - 47.607 5,934 - 12,528 17%

Investor Relations Head 37.325 - 52.878 9,822 - 13,915 17%

FINANCIAL & PROFESSIONAL SERVICES

AGRIBUSINESS

Position Monthly Total Compensation (minimum - maximum) Bonus

BR REAL USD %

CEO 60.135 - 120.271 15,825 - 31,650 20%

CFO 51.867 - 86.445 13,649 - 22,748 23%

Finance Director 30.839 - 49.342 8,115 - 12,984 18%

Finance Manager 24.054 - 36.081 6,330 - 9,495 20%

Commercial Director 25.056 - 75.169 6,593 - 19,781 33%

Supply Chain & Operations Director 36.749 - 73.499 9,670 - 19,341 30%

Supply Chain & Operations Manager 26.700 - 47.467 7,026 - 12,491 21%

HR Director 36.496 - 51.703 9,604 - 13,605 19%

HR Manager 28.350 - 37.799 7,460 - 9,947 16%

Corporate Affairs Director 25.056 - 65.147 6,593 - 17,143 33%

CONSTRUCTION, PROPERTY & INFRASTRUCTURE

Position Monthly Total Compensation (minimum - maximum) Bonus

BR REAL USD %

CEO 48.108 - 112.253 12,660 - 29,540 29%

CFO 41.269 - 99.046 10,860 - 26,064 27%

Commercial Director 31.779 - 68.447 8,362 - 18,012 35%

Development & Expansion Director 45.319 - 84.974 11,926 - 22,361 25%

Facilities Directors 33.676 - 78.577 8,862 - 20,678 25%

Operations Director 28.503 - 77.736 7,500 - 20,456 31%

CHEMICALS

Position Monthly Total Compensation (minimum - maximum) Bonus

BR REAL USD %

CEO 40.436 - 89.857 10,641 - 23,646 40%

CFO 38.347 - 71.901 10,091 - 18,921 36%

Finance Director 33.826 - 56.377 8,901 - 14,836 25%

Commercial Director 30.068 - 70.158 7,912 - 18,462 33%

Supply Chain & Operations Director 35.480 - 82.786 9,336 - 21,785 21%

HR Director 28.297 - 48.877 7,446 - 12,862 32%

Corporate Affairs Director 35.079 - 55.124 9,231 - 14,506 33%

INDUSTRY

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OTHERS B2B

Position Monthly Total Compensation (minimum - maximum) Bonus

BR REAL USD %

Managing Director 53.454 - 106.907 14,066 - 28,133 21%

CFO 46.568 - 80.718 12,254 - 21,241 17%

Finance Director 35.374 - 64.852 9,308 - 17,066 22%

Commercial Director 40.618 - 69.630 10,688 - 18,323 23%

Supply Chain & Operations Director 37.227 - 62.999 9,796 - 16,578 24%

HR Director 28.636 - 51.545 7,535 - 13,564 24%

INDUSTRY

MINING & STEEL

Position Monthly Total Compensation (minimum - maximum) Bonus

BR REAL USD %

CEO 45.638 - 104.700 12,010 - 27,552 29%

CFO 42.705 - 97.611 11,238 - 25,687 19%

HR Director 33.074 - 57.129 8,703 - 15,033 20%

Sales & Marketing Director 31.022 - 69.203 8,163 - 18,211 37%

Supply Chain & Operations Director 32.506 - 67.720 8,554 - 17,821 28%

OIL & ENERGY

Position Monthly Total Compensation (minimum - maximum) Bonus

BR REAL USD %

CEO 54.408 - 125.998 14,317 - 33,157 24%

CFO 46.981 - 103.358 12,363 - 27,199 17%

HR Director 32.072 - 48.108 8,440 - 12,660 29%

Sales & Marketing Director 37.418 - 77.508 9,846 - 20,396 29%

Supply Chain & Operations Director 34.288 - 65.938 9,023 - 17,352 30%

Exploration & Production Director 30.927 - 59.276 8,138 - 15,599 31%

Geoscience & Petrophysics 36.668 - 63.558 9,649 - 16,725 35%

LNG Director 36.256 - 67.979 9,540 - 17,889 33%

INFORMATION TECHNOLOGY

Position Monthly Total Compensation (minimum - maximum) Bonus

BR REAL USD %

CEO 30.068 - 150.338 7,912 - 39,562 20%

CFO 34.584 - 59.628 9,101 - 15,691 21%

CIO 33.826 - 56.377 8,901 - 14,836 25%

Digital Transformation Director 34.215 - 55.988 9,003 - 14,733 17%

Finance Director 24.325 - 67.883 6,401 - 17,863 25%

Infrastructure Director 23.868 - 40.277 6,280 - 10,599 21%

Project Director 24.443 - 41.716 6,429 - 10,977 21%

System Development Director 23.386 - 46.772 6,154 - 12,308 22%

BPO Director 25.257 - 44.901 6,646 - 11,816 25%

IT & TELECOM

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FMCG

Position Monthly Total Compensation (minimum - maximum) Bonus

CH PESOS USD %

CEO 10.800.000 - 20.250.000 15,530 - 29,130 30%

Finance VP/Director 9.450.000 - 13.500.000 13,590 - 19,420 25%

Finance Senior Manager 8.100.100 - 10.800.000 11,650 - 15,530 25%

Sales & Marketing VP/Director 10.800.000 - 13.500.000 15,530 - 19,420 30%

Sales & Marketing Senior Manager 8.100.000 - 10.800.00 11,650 - 15,530 30%

Supply Chain & Operation VP/Director 10.800.000 - 14.850.000 15,530 - 21,360 25%

Supply Chain & Operation Senior Manager 8.100.000 - 11.475.000 11,650 - 16,500 25%

HR VP/Director 8.775.000 - 12.825.000 12,620 - 18,450 25%

HR Senior Manager 6.750.000 - 10.125.000 9,710 - 14,560 25%

IT VP/Director 8.100.000 - 11.475.000 11,650 - 16,500 25%

IT Senior Manager 6.750.000 - 8.775.000 9,710 - 12,620 25%

RETAIL

Position Monthly Total Compensation (minimum - maximum) Bonus

CH PESOS USD %

CEO 10.800.000 - 27.000.000 15,530 - 38,830 35%

Finance VP/Director 8.775.000 - 11.475.000 9,710 - 16,500 25%

Sales & Marketing VP/Director 9.450.000 - 14.175.000 13,590 - 20,390 30%

Supply Chain & Operations VP/Director 8.100.000 - 20.250.000 11,650 - 29,130 25%

HR VP/Director 8.775.000 - 13.500.000 12,620 - 19,420 20%

IT VP/Director 8.775.000 - 12.150.000 12,620 - 17,470 25%

IT Senior Manager 6.750.000 - 10.125.000 9,710 - 14,560 25%

CONSUMER & LIFE SCIENCES

CHILE

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EDUCATION & HOSPITALITY

Position Monthly Total Compensation (minimum - maximum) Bonus

CH PESOS USD %

CEO 10.800.000 - 20.250.000 15,530 - 29,130 25%

Finance VP/Director 8.100.000 - 12.150.000 11,650 - 17,470 20%

Sales & Marketing VP/Director 10.800.000 - 13.500.000 15,530 - 19,420 25%

HR VP/Director 8.100.000 - 13.500.000 11,650 - 19,420 20%

IT VP/Director 8.100.000 - 12.150.000 11,650 - 17,470 20%

MEDICAL DEVICES

Position Monthly Total Compensation (minimum - maximum) Bonus

CH PESOS USD %

CEO 9.450.000 - 20.250.000 13,590 - 29,130 30% - 35%

Finance VP/Director 8.100.000 - 11.475.000 11,650 - 16,500 30%

Sales & Marketing VP/Director 10.125.000 - 12.825.000 14,560 - 18,450 30% - 35%

Sales & Marketing Senior Manager 8.100.000 - 10.125.000 11,650 - 14,560 30% - 35%

HR VP/Director 7.430.000 - 10.125.000 10,690 - 14,560 25%

IT VP/Director 8.100.000 - 10.800.000 11,650 - 15,530 30%

PHARMACEUTICAL

Position Monthly Total Compensation (minimum - maximum) Bonus

CH PESOS USD %

CEO 10.800.000 - 24.300.000 15,530 - 34,950 30%

Finance Senior Manager 9.450.000 - 16.200.000 13,590 - 23,300 25%

Sales & Marketing VP/Director 10.800.000 - 16.200.000 15,530 - 23,300 30%

Sales & Marketing Senior Manager 9.450.000 - 12.825.000 13,590 - 18,450 30%

Supply Chain & Operations VP/Director 9.450.000 - 16.200.000 13,590 - 23,300 25%

HR VP/Director 10.125.000 - 14.850.000 14,560 - 21,360 25%

CONSUMER & LIFE SCIENCES

FINANCIAL SERVICES

Position Monthly Total Compensation (minimum - maximum) Bonus

CH PESOS USD %

Commercial Superintendent 14.175.000 - 20.250.000 20,390 - 29,130 40% - 50%

Compliance Director 12.150.000 - 16.200.000 17,470 - 23,300 40% - 50%

Human Resources Director 9.450.000 - 15.525.000 13,590 - 22,330 30%

Human Resources Superintendent 10.125.000 - 13.500.000 14,560 - 19,420 30%

Products Director 10.125.000 - 12.825.000 14,560 - 18,450 30%

Technology VP/Director 9.450.000 - 12.825.000 13,590 - 18,450 40% - 50%

Technology Superintendent 8.100.000 - 11.475.000 11,650 - 16,500 30%

M&A Executive Sell-side & Buy-side 10.125.000 - 14.175.000 14,560 - 20,390 35%

Commercial Director 12.825.000 - 16.875.000 18,450 - 24,270 40% - 50%

REAL ESTATE

Position Monthly Total Compensation (minimum - maximum) Bonus

CH PESOS USD %

CEO 14.175.000 - 21.600.000 20,390 - 31,070 30%

Business Development Director 11.475.000 - 15.525.000 16,500 - 22,330 30% - 35%

Finance Director 10.125.000 - 16.200.000 14,560 - 23,300 25%

Technology Director 9.450.000 - 14.850.000 13,590 - 21,360 25%

SERVICES

Position Monthly Total Compensation (minimum - maximum) Bonus

CH PESOS USD %

CEO 13.500.000 - 27.000.000 19,420 - 38,830 25%

Finance Director 10.800.000 - 14.175.000 15,530 - 20,390 20%

Human Resources Director 10.125.000 - 14.850.000 14,560 - 21,360 20%

Sales & Marketing Director 12.150.000 - 16.200.000 17,470 - 23,300 20% - 25%

Technology Director 10.800.000 - 14.850.000 15,530 - 21,360 20%

Stategy Principal/Consultant 9.450.000 - 12.825.000 13,590 - 18,450 20%

FINANCIAL & PROFESSIONAL SERVICES

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AGRIBUSINESS

Position Monthly Total Compensation (minimum - maximum) Bonus

CH PESOS USD %

CEO 14.850.000 - 25.650.000 21,360 - 36,890 30%

Finance VP/Director 11.475.000 - 14.175.000 16,500 - 20,390 20%

Sales & Marketing VP/Director 10.800.000 - 16.200.000 15,530 - 23,300 20% - 25%

Supply Chain & Operations VP/Director 9.450.000 - 14.175.000 13,590 - 20,390 20%

HR VP/Director 9.450.000 - 12.825.000 13,590 - 18,450 20%

AUTOMOTIVE, EQUIPMENT & CAPITAL GOODS

Position Monthly Total Compensation (minimum - maximum) Bonus

CH PESOS USD %

CEO 16.200.000 - 22.950.000 23,300 - 33,010 30%

Finance VP/Director 10.800.000 - 14.175.000 15,530 - 20,390 30%

Sales & Marketing VP/Director 8.775.000 - 14.175.000 12,620 - 20,390 30% - 35%

Supply Chain & Operations VP/Director 9.450.000 - 12.825.000 13,590 - 18,450 30%

HR VP/Director 8.100.000 - 12.825.000 11,650 - 18,450 25%

CHEMICALS

Position Monthly Total Compensation (minimum - maximum) Bonus

CH PESOS USD %

CEO 12.825.000 - 20.250.000 18,450 - 29,130 25%

Finance Senior Manager 10.800.000 - 14.175.000 15,530 - 20,390 25%

Sales & Marketing VP/Director 9.450.000 - 11.475.000 13,590 - 16,500 25% - 30%

Supply Chain & Operations VP/Director 9.450.000 - 14.175.000 13,590 - 20,390 25%

HR VP/Director 8.775.000 - 11.475.000 12,620 - 16,500 25%

INDUSTRY

OIL & ENERGY

Position Monthly Total Compensation (minimum - maximum) Bonus

CH PESOS USD %

CEO 10.125.000 - 24.300.000 14,560 - 34,950 30%

Finance VP/Director 8.100.000 - 12.150.000 11,650 - 17,470 25% - 30%

Sales & Marketing VP/Director 10.125.000 - 16.875.000 14,560 - 24,270 30%

Supply Chain & Operations VP/Director 11.475.000 - 16.875.000 16,500 - 24,270 20%

HR VP/Director 11.475.000 - 14.175.000 16,500 - 20,390 20%

MINING & STEEL

Position Monthly Total Compensation (minimum - maximum) Bonus

CH PESOS USD %

CEO 12.150.000 - 27.000.000 17,470 - 38,830 35%

Finance VP/Director 10.125.000 - 16.875.000 14,560 - 24,270 35%

Sales & Marketing VP/Director 12.150.000 - 16.200.000 17,470 - 24,270 35% - 40%

Supply Chain & Operations VP/Director 11.475.000 - 16.875.000 16,500 - 24,270 35%

HR VP/Director 10.125.000 - 12.825.000 14,560 - 18,450 35%

INDUSTRY

36 | | 37

INFORMATION TECHNOLOGY

Position Monthly Total Compensation (minimum - maximum) Bonus

CH PESOS USD %

CEO 12.150.000 - 24.300.000 17,470 - 34,950 30%

Commercial VP/Director 9.450.000 - 16.200.000 13,590 - 24,270 30% - 40%

Marketing VP/Director 9.450.000 - 12.150.000 13,590 - 17,470 25%

Technology VP/Director 10.800.000 - 16.200.000 15,530 - 24,270 25%

Finance Director 8.775.000 - 13.500.000 12,620 - 19,420 20%

Operations Director 10.800.000 - 14.850.000 15,530 - 21,360 20%

Human Resources Director 10.125.000 - 14.175.000 14,560 - 20,390 20%

TELECOMMUNICATION

Position Monthly Total Compensation (minimum - maximum) Bonus

CH PESOS USD %

Commercial VP/Director 12.150.000 - 18.900.000 17,470 - 27,180 30%

Technology Director 10.800.000 - 16.200.000 15,530 - 24,270 25%

Finance Director 9.450.000 - 14.175.000 13,590 - 20,390 25%

IT & TELECOM

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COLOMBIAFMCG

Position Monthly Total Compensation (minimum - maximum) Bonus

CO PESOS USD %

CEO 40.000.000 - 90.000.000 12,229 - 27,515 20% - 60%

Finance VP/Director 30.000.000 - 50.000.000 9,172 - 15,286 20% - 30%

Finance Senior Manager 25.000.000 - 35.000.000 7,643 - 10,700 20% - 30%

Sales & Marketing VP/Director 30.000.000 - 50.000.000 9,172 - 15,286 20% - 30%

Sales & Marketing Senior Manager 25.000.000 - 35.000.000 7,643 - 10,700 20% - 30%

Supply Chain & Operations VP/Director 25.000.000 - 45.000.000 7,643 - 13,757 20% - 30%

Supply Chain & Operations Senior Manager 20.000.000 - 35.000.000 6,114 - 10,700 20% - 30%

HR VP/Director 30.000.000 - 45.000.000 9,172 - 13,757 20% - 30%

HR Senior Manager 20.000.000 - 30.000.000 6,114 - 9,172 20% - 30%

IT VP/Director 30.000.000 - 45.000.000 9,172 - 13,757 20% - 30%

IT Senior Manager 20.000.000 - 30.000.000 6,114 - 9,172 20% - 30%

RETAIL

Position Monthly Total Compensation (minimum - maximum) Bonus

CO PESOS USD %

CEO 40.000.000 - 100.000.000 12,229 - 30,572 20% - 60%

Finance VP/Director 35.000.000 - 50.000.000 10,700 - 15,286 20% - 30%

Sales & Marketing VP/Director 30.000.000 - 50.000.000 9,172 - 15,286 20% - 30%

Supply Chain & Operations VP/Director 30.000.000 - 50.000.000 9,172 - 15,286 20% - 30%

HR VP/Director 30.000.000 - 45.000.000 9,172 - 13,757 20% - 30%

IT VP/Director 30.000.000 - 45.000.000 9,172 - 13,757 20% - 30%

IT Senior Manager 20.000.000 - 30.000.000 6,114 - 9,172 20% - 30%

CONSUMER & LIFE SCIENCES

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EDUCATION & HOSPITALITY

Position Monthly Total Compensation (minimum - maximum) Bonus

CO PESOS USD %

CEO 25.000.000 - 80.000.000 7,642 - 24,457 20% - 30%

Finance VP/Director 20.000.000 - 35.000.000 6,114 - 15,286 10% - 20%

Sales & Marketing VP/Director 20.000.000 - 35.000.000 6,114 - 10,700 10% - 20%

HR VP/Director 20.000.000 - 35.000.000 6,114 - 10,700 10% - 20%

IT VP/Director 20.000.000 - 35.000.000 6,114 - 10,700 10% - 20%

MEDICAL DEVICES

Position Monthly Total Compensation (minimum - maximum) Bonus

CO PESOS USD %

CEO 25.000.000 - 80.000.000 7,642 - 24,457 20% - 40%

Finance VP/Director 25.000.000 - 50.000.000 7,642 - 15,286 20% - 30%

Sales & Marketing VP/Director 30.000.000 - 40.000.000 9,171 - 12,228 20% - 30%

Sales & Marketing Senior Manager 20.000.000 - 30.000.000 6,114 - 9,171 20% - 30%

HR VP/Director 20.000.000 - 25.000.000 6,114 - 7,642 20% - 30%

IT VP/Director 20.000.000 - 25.000.000 6,114 - 7,642 20% - 30%

Regulatory Affairs Directors 20.000.000 - 27.000.000 6,114 - 8,254 20% - 30%

Supply Chain Director 23.000.000 - 33.000.000 7,031 - 10,088 20% - 30%

PHARMACEUTICAL

Position Monthly Total Compensation (minimum - maximum) Bonus

C0 PESOS USD %

CEO 35.000.000 - 120.000.000 10,700 - 36,686 20% - 70%

Finance Senior Manager 25.000.000 - 60.000.000 7,642 - 18,343 20% - 40%

Sales & Marketing VP/Director 30.000.000 - 40.000.000 9,171 - 12,228 20% - 40%

Sales & Marketing Senior Manager 23.000.000 - 30.000.000 7,031 - 9,171 20% - 40%

Supply Chain & Operations VP/Director 28.000.000 - 40.000.000 8,560 - 12,228 20% - 40%

HR VP/Director 23.000.000 - 35.000.000 7,031 - 10,700 20% - 40%

Market Access Director Local & Regional 25.000.000 - 45.000.000 7,642 - 13,757 20% - 40%

Medical Director 22.000.000 - 40.000.000 6,725 - 12,228 20% - 40%

Regulatory Affairs Director 28.000.000 - 35.000.000 8,560 - 10,700 20% - 40%

CONSUMER & LIFE SCIENCES

REAL ESTATE

Position Monthly Total Compensation (minimum - maximum) Bonus

CO PESOS USD %

CEO 40.000.000 - 80.000.000 12,229 - 24,457 20% - 30%

Business Development Director 30.000.000 - 45.000.000 9,172 - 13,757 20% - 30%

Finance Director 30.000.000 - 45.000.000 9,172 - 13,757 20% - 30%

FINANCIAL SERVICES

Position Monthly Total Compensation (minimum - maximum) Bonus

CO PESOS USD %

CEO 35.000.000 - 120.000.000 10,700 - 36,686 30% - 80%

Finance VP/Director 35.000.000 - 80.000.000 10,700 - 24,457 20% - 60%

Human Resources Director 25.000.000 - 40.000.000 7,643 - 12,229 20% - 40%

Sales & Marketing VP/Director 35.000.000 - 80.000.000 10,700 - 24,457 20% - 60%

Products Director 35.000.000 - 60.000.000 10,700 - 18,343 20% - 40%

Technology VP/Director 35.000.000 - 60.000.000 10,700 - 18,343 20% - 60%

M&A Executive Sell-side & Buy-side 40.000.000 - 80.000.000 12,229 - 24,457 20% - 80%

SERVICES

Position Monthly Total Compensation (minimum - maximum) Bonus

CO PESOS USD %

CEO 40.000.000 - 100.000.000 12,229 - 30,572 30% - 60%

Finance Director 35.000.000 - 60.000.000 10,700 - 18,343 20% - 30%

Human Resources Director 25.000.000 - 40.000.000 7,643 - 12,229 20% - 30%

Sales & Marketing Director 30.000.000 - 60.000.000 9,172 - 18,343 20% - 30%

Technology Director 30.000.000 - 50.000.000 9,172 - 15,286 20% - 30%

Strategy Principal/Consultant 30.000.000 - 50.000.000 9,172 - 15,286 20% - 30%

FINANCIAL & PROFESSIONAL SERVICES

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AGRIBUSINESS

Position Monthly Total Compensation (minimum - maximum) Bonus

CO PESOS USD %

CEO 30.000.000 - 90.000.000 9,171 - 27,514 20% - 50%

Finance VP/Director 25.000.000 - 50.000.000 7,642 - 15,286 20% - 30%

Sales & Marketing VP/Director 30.000.000 - 40.000.000 9.171 - 12,228 20% - 30%

Supply Chain & Operations VP/Director 25.000.000 - 40.000.000 7,642 - 12,228 20% - 30%

HR VP/Director 20.000.000 - 30.000.000 6,114 - 9,171 20% - 30%

OIL & ENERGY

Position Monthly Total Compensation (minimum - maximum) Bonus

CO PESOS USD %

CEO 25.000.000 - 150.000.000 7,642 - 45,857 20% - 70%

Finance VP/Director 25.000.000 - 90.000.000 7,642 - 27,514 20% - 70%

Business Development VP 30.000.000 - 65.000.000 9,171 - 19,871 20% - 60%

HR VP/Director 25.000.000 - 35.000.000 7,642 - 12,228 20% - 30%

Exploration/Prodution VP 35.000.000 - 65.000.000 10,700 - 19,871 20% - 60%

Operation VP 35.000.000 - 65.000.000 10,700 - 19,871 20% - 60%

Legal VP 35.000.000 - 50.000.000 10,700 - 15,286 20% - 30%

INFORMATION TECHNOLOGY

Position Monthly Total Compensation (minimum - maximum) Bonus

CO PESOS USD %

CEO 40.000.000 - 80.000.000 12,229 - 24,457 20% - 60%

Commercial Director 35.000.000 - 60.000.000 10,700 - 18,343 20% - 30%

Marketing VP/Director 35.000.000 - 60.000.000 10,700 - 18,343 20% - 30%

Technology VP/Director 35.000.000 - 60.000.000 10.700 - 18,343 20% - 30%

Finance Director 35.000.000 - 60.000.000 10,700 - 18,343 20% - 30%

Operations Director 35.000.000 - 60.000.000 10,700 - 18,343 20% - 30%

Human Resources Director 30.000.000 - 50.000.000 9,172 - 15,286 20% - 30%

TELECOMMUNICATION

Position Monthly Total Compensation (minimum - maximum) Bonus

CO PESOS USD %

Commercial VP/Director 35.000.000 - 60.000.000 10,700 - 18,343 20% - 30%

Technology VP/Director 35.000.000 - 60.000.000 10,700 - 18,343 20% - 30%

Finance Director 35.000.000 - 60.000.000 10,700 - 18,343 20% - 30%

AUTOMOTIVE, EQUIPMENT & CAPITAL GOODS

Position Monthly Total Compensation (minimum - maximum) Bonus

CO PESOS USD %

CEO 30.000.000 - 80.000.000 9,171 - 24,457 20% - 40%

Finance VP/Director 25.000.000 - 40.000.000 7,642 - 12,228 10% - 30%

Sales & Marketing VP/Director 25.000.000 - 40.000.000 7,642 - 12,228 10% - 30%

Sales & Marketing Senior Manager 25.000.000 - 40.000.000 7,642 - 12,228 10% - 30%

HR VP/Director 20.000.000 - 30.000.000 6,114 - 9,171 10% - 30%

CHEMICALS

Position Monthly Total Compensation (minimum - maximum) Bonus

C0 PESOS USD %

CEO 30.000.000 - 90.000.000 9,171 - 27,514 20% - 60%

Finance VP/Director 25.000.000 - 50.000.000 7,642 - 15,286 20% - 40%

Sales & Marketing VP/Director 30.000.000 - 40.000.000 9,171 - 12,228 20% - 40%

Supply Chain & Operations VP/Director 25.000.000 - 40.000.000 7,642 - 12,228 20% - 30%

HR VP/Director 20.000.000 - 30.000.000 6,114 - 9,171 20% - 30%

INDUSTRY INDUSTRY

IT & TELECOM

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MEXICO FMCG

Position Monthly Total Compensation (minimum - maximum) Bonus

MX PESOS USD %

CEO 120.000 - 260.000 6,000 - 13,000 20% - 35%

Finance VP/Director 100.000 - 250.000 5,000 - 12,500 20% - 35%

Finance Senior Manager 130.000 - 200.000 6,500 - 10,000 25%

Sales & Marketing VP/Director 280.000 - 320.000 14,000 - 16,000 20% - 35%

Sales & Marketing Senior Manager 160.000 - 210.000 8,000 - 10,500 20% - 30%

Supply Chain & Operations VP/Director 160.000 - 260.000 8,000 - 13,000 25%

Supply Chain & Operations Senior Manager 140.000 - 190.000 7,000 - 9,500 20%

HR VP/Director 140.000 - 280.000 7,000 - 14,000 20%

HR Senior Manager 150.000 - 200.000 7,500 - 10,000 15%

IT VP/Director 180.000 - 350.000 9,000 - 17,500 25%

IT Senior Manager 140.000 - 190.000 7,000 - 9,500 20%

RETAIL

Position Monthly Total Compensation (minimum - maximum) Bonus

MX PESOS USD %

Finance VP/Director 120.000 - 220.000 6,000 - 11,000 20% - 35%

Sales & Marketing VP/Director 140.000 - 280.000 7,000 - 14,000 20% - 35%

Supply Chain & Operations VP/Director 140.000 - 240.000 7,000 - 12,000 20% - 30%

HR VP/Director 80.000 - 190.000 4,000 - 9,500 20%

IT VP/Director 150.000 - 300.000 7,500 - 15,000 20% - 25%

IT Senior Manager 130.000 - 180.000 6,500 - 9,000 20%

EDUCATION & HOSPITALITY

Position Monthly Total Compensation (minimum - maximum) Bonus

MX PESOS USD %

CEO 120.000 - 300.000 6,000 - 15,000 25%

Finance VP/Director 80.000 - 220.000 4,000 - 11,000 20%

Sales & Marketing VP/Director 80.000 - 180.000 4,000 - 9,000 15% - 20%

HR VP/Director 70.000 - 160.000 3,500 - 8,000 15% - 20%

IT VP/Director 70.000 - 140.000 3,500 - 7,000 15%

CONSUMER & LIFE SCIENCES

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MEDICAL DEVICES

Position Monthly Total Compensation (minimum - maximum) Bonus

MX PESOS USD %

CEO 110.000 - 300.000 5,500 - 15,000 20% - 35%

Finance VP/Director 80.000 - 210.000 4,000 - 10,500 20% - 30%

Sales & Marketing VP/Director 110.000 - 250.000 5,500 - 12,500 20% - 35%

Sales & Marketing Senior Manager 90.000 - 160.000 4,500 - 8,000 20% - 25%

HR VP/Director 90.000 - 140.000 4,500 - 7,000 15% - 20%

IT VP/Director 90.000 - 140.000 4,500 - 7,000 15% - 20%

FINANCIAL SERVICES

Position Monthly Total Compensation (minimum - maximum) Bonus

MX PESOS USD %

Compliance Director 110.000 - 200.000 5,500 - 10,000 15% - 20%

Human Resources Director 90.000 - 170.000 4,500 - 8,500 15% - 20%

Products Director 140.000 - 200.000 7,000 - 10,000 20% - 60%

Technology VP/Director 140.000 - 300.000 7,000 - 15,000 20%

M&A Executive Sell-side & Buy-side 140.000 - 300.000 7,000 - 15,000 20% - 50%

Commercial VP/Director 150.000 - 300.000 7,500 - 15,000 20% - 50%

REAL ESTATE

Position Monthly Total Compensation (minimum - maximum) Bonus

MX PESOS USD %

CEO 100.000 - 200.000 5,000 - 10,000 20% - 40%

Business Development Director 80.000 - 130.000 4,000 - 6,500 20% - 40%

Finance Director 65.000 - 130.000 3,300 - 6,500 20%

Commercial VP/Director 65.000 - 130.000 3,300 - 6,500 15%

SERVICES

Position Monthly Total Compensation (minimum - maximum) Bonus

MX PESOS USD %

CEO 100.000 - 300.000 5,000 - 15,000 20% - 40%

Finance Director 110.000 - 200.000 5,500 - 10,000 15% - 20%

Human Resources Director 100.000 - 170.000 5,000 - 8,500 15% - 20%

Sales & Marketing Director 110.000 - 200.000 5,500 - 10,000 20% - 30%

Technology Director 100.000 - 180.000 5,000 - 9,000 15% - 20%

PHARMACEUTICAL

Position Monthly Total Compensation (minimum - maximum) Bonus

MX PESOS USD %

CEO 160.000 - 450.000 8,000 - 22,500 20% - 45%

Finance VP/Director 100.000 - 250.000 5,000 - 12,500 20% - 35%

Sales & Marketing VP/Director 220.000 - 350.000 11,000 - 17,500 20% - 40%

Sales & Marketing Senior Manager 150.000 - 220.000 7,500 - 11,000 20% - 30%

Supply Chain and Operations VP/Director 140.000 - 200.000 7,000 - 10,000 20% - 30%

HR VP/Director 140.000 - 250.000 7,000 - 10,000 20%

CONSUMER & LIFE SCIENCES FINANCIAL & PROFESSIONAL SERVICES

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AGRIBUSINESS

Position Monthly Total Compensation (minimum - maximum) Bonus

MX PESOS USD %

CEO 110.000 - 280.000 5,500 - 14,000 20% - 40%

Finance VP/Director 120.000 - 180.000 6,000 - 9,000 20% - 25%

Sales & Marketing VP/Director 130.000 - 200.000 6,500 - 10,000 20% - 40%

Supply Chain & Operations VP/Director 110.000 - 160.000 5,500 - 8,000 20% - 30%

HR VP/Director 100.000 - 150.000 5,000 - 7,500 15% - 20%

MINING & STEEL

Position Monthly Total Compensation (minimum - maximum) Bonus

MX PESOS USD %

CEO 150.000 - 300.000 7,500 - 15,000 20% - 45%

Finance Director 170.000 - 280.000 8,500 - 14,000 20% - 30%

Sales & Marketing VP/Director 150.000 - 250.000 7,500 - 12,500 20% - 40%

Supply Chain & Operations VP/Director 130.000 - 210.000 6,500 - 10,500 20% - 30%

HR VP/Director 110.000 - 150.000 6,500 - 7,500 15% - 20%

OIL & GAS

Position Monthly Total Compensation (minimum - maximum) Bonus

MX PESOS USD %

CEO 170.000 - 400.000 8,500 - 20,000 20% - 50%

Finance Director 150.000 - 220.000 7,500 - 11,000 20% - 35%

Sales & Marketing VP/Director 130.000 - 280.000 6,500 - 14,000 20% - 40%

Supply Chain & Operations VP/Director 110.000 - 190.000 6,500 - 9,500 20% - 30%

HR VP/Director 90.000 - 150.000 4,500 - 7,500 15% - 20%

AUTOMOTIVE, EQUIPMENT & CAPITAL GOODS

Position Monthly Total Compensation (minimum - maximum) Bonus

MX PESOS USD %

CEO 170.000 - 320.000 8,500 - 16,000 20% - 40%

Finance VP/Director 150.000 - 280.000 7,500 - 14,000 20% - 25%

Sales & Marketing VP/Director 130.000 - 260.000 6,500 - 13,000 20% - 40%

Supply Chain & Operations VP/Director 130.000 - 260.000 6,500 - 13,000 20% - 30%

HR VP/Director 100.000 - 170.000 5,000 - 8,500 20% - 30%

CHEMICALS

Position Monthly Total Compensation (minimum - maximum) Bonus

MX PESOS USD %

CEO 110.000 - 280.000 5,500 - 14,000 20% - 45%

Finance VP/Director 120.000 - 180.000 6,000 - 9,000 20% - 30%

Sales & Marketing VP/Director 130.000 - 200.000 6,500 - 10,000 20% - 40%

Supply Chain & Operations VP/Director 110.000 - 160.000 5,500 - 8,000 20% - 30%

HR VP/Director 100.000 - 150.000 5,000 - 7,500 15% - 25%

INDUSTRY INDUSTRY

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INFORMATION TECHNOLOGY

Position Monthy Total Compensation (minimum - maximum) Bonus

MX PESOS USD %

CEO 110.000 - 300.000 6,500 - 15,000 20% - 45%

Commercial VP/Director 80.000 - 250.000 4,000 - 12,500 20% - 30%

Marketing VP/Director 70.000 - 140.000 3,500 - 7,000 20% - 30%

Technology VP/Director 70.000 - 300.000 3,500 - 15,000 20% - 35%

Finance Director 90.000 - 250.000 4,500 - 12,500 20%

Operational Director 100.000 - 200.000 5,000 - 10,000 20% - 40%

Human Resources Director 100.000 - 200.000 5,000 - 10,000 15% - 20%

TELECOMMUNICATION

Position Monthy Total Compensation (minimum - maximum) Bonus

MX PESOS USD %

Commercial VP/Director 120.000 - 200.000 6,000 - 10,000 20% - 30%

Technology Director 100.000 - 180.000 5,000 - 9,000 20% - 30%

Finance Director 90.000 - 180.000 4,500 - 9,000 20% - 30%

IT & TELECOM

MEET OUR TEAM

Fernanda has a significant experience in search projects for talents of various markets. She started at Hays in 2006, being responsible for developing and consolidating the Legal practice area for the middle management business.

Silvana is specialist in Assessment Centre and Management by Competences. With more than 18 years of experience in executive recruitment, she now leads the searches for executive positions in Colombia and the region.

Luciana has more than 12 years of experience working in human resources consulting and executive search firms. She has been in charge of Hays Executive Chile for more than 2 years leading search projects for Chile and Argentina in various industries.

Adriana started her professional career as a financial lawyer managing investment funds and foreign SICAVS. With previous experience in executive search, she is currently the Head of Hays Executive Mexico.

FERNANDA SIQUEIRADirector at Hays Executive Brazil & Principal at Hays Executive Latam

SILVANA VERGELDirector at Hays Executive, Colombia & Mexico

LUCIANA BERGARDINODirector at Hays Executive, Chile

ADRIANA MARFILPrincipal & Head of Hays Executive, Mexico

52 | www.hays-executive.com

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OUR OFFICES IN LATIN AMERICA