Comann Survey Shows Increased Compensation For Minerals Executives

The sixth survey on the mining industry by Comann Associates provided data for entry-level and midlevel engineers as well as executive officers. Average 1989 compensation - base salary and anticipated bonus - for chief mining executive officers or chief mining operating officers: $237,943. This is an increase of 20% over the results of the last survey, on 1985 compensation. The latest survey also showed that bonuses for chief mining executive officers averaged 33% of base salary. Average 1989 compensation for chief executive or chief operating officers at mining operations with under $50 million in gross sales, $148,638; at mining operation with more than $50 million in gross sales, $275,141. The survey showed that these officers averaged 14 years employment with their present company, had five years in their present position, and had an average age of 54.