An inside look at how the C-Suite retires paid NTWealth
Here, we highlight responses from the research and provide you with an inside look at how your fellow executives are planning for their transition into retirement.In the 2017 report “Age And Tenure In The C-Suite,” Korn Ferry highlights that the average age of a C-suite executive is 54 and the average tenure is a little over five years—both of which suggests that by the age of 60, most C-suite executives will have transitioned from their current position.
This finding is borne out in the Forbes Insights research. The most frequently cited response to the question of “When will you retire?” is five to 10 years—a figure that exceeds the average tenure in Korn Ferry’s research. Meanwhile, 32% expect to continue working for another 10 to 20 years, and 5% see their journey continuing for 20 years or more. Another 10% plan to retire in three to five years, 3% in less than three years and 11% are uncertain.
But other key goals included providing for their extended family , financing philanthropy/endowment and their children’s education .When asked to cite all forms of substantial compensation, executives most frequently cited salary , followed by stock options , stock grants , incentive bonuses and deferred compensation .
However, should an executive decide to move in retirement, the most frequently cited influence on location is weather , followed closely by the desire to live in an area featuring low real estate taxes or in a state with a low income tax rate .
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