Top salaries up but perks down

SALARIES for top executives and managers have risen by 4.8% in 12 months, but bosses are seeing a reduction in bonuses and other benefits, according to a new survey.

The annual executive compensation survey by Inbucon consultants found that salaries for the 12 months to July rose by 4.87%, compared to a rise of 5.4% in the year to July 2002.

But Inbucon are forecasting an increase in basic salary for 2004 to rise by 4%, compared to an estimated inflation rate of 3%.