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Swedes back bonuses: study

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Swedes back bonuses: study
14:20 CEST+02:00
Despite intense media focus on the issue of executive bonuses, the majority of Swedes are in favour of performance-related pay, a new survey published on Friday shows.

Only 26 percent of Swedes are against performance-related bonus systems, with 53 percent in favour, according to the survey by Demoskop.

"From the debate one can get the impression that bonuses and high remuneration packages completely lack the people's support. But it is more the link between performance and remuneration that people desire," said Demoskop CEO Anders Lindholm in a statement.

The survey also shows that of five professions - sports star, music artist, businessman, self-employed and company leader - the self-employed were considered most deserving of a high salary.

Almost 80 percent considered high salaries to the self-employed to be positive or very positive.

But company CEO's are not afforded the same goodwill with 75 percent of those surveyed considered their high salaries and bonuses to be negative or very negative.

A majority did not consider CEO pay to be adapted to input and there is a broad scepticism over the importance of a CEO for a company's results. Only 12 percent considered the CEO's impact on results to be "very large".

The negative picture is also exacerbated by the belief, held by 55 percent of Swedes, that company boards have little or no ability to shape the systems for awarding executive pay.

"The survey indicates that boards and politicians should not be concerned over the existence of bonuses and high remuneration, but instead how the relevant remuneration is designed, and how to explain its logic," Anders Lindholm concluded.

Demoskop interviewed 1,000 Swedes for the survey.

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