3 leaders reveal their salaries — and how they earned them

June 27, 2024 10:30 AM

Being a CEO, founder or other high-level professional comes with its perks, namely swoon-worthy salaries. While not every person feels comfortable revealing the number on their paycheck, salary transparency is increasingly important in creating more equitable career journeys for all.

Eight states currently have salary transparency laws in place, and another 15 are considering them, according to the Center for American Progress. Along with a reduction in pay inequality, making this information public is increasing employers' talent options: Research from SHRM found that 80% of workers are more likely to apply to a position when a pay range is listed.

Many leaders, regardless of compliance obligations, are finding pay transparency to be a pivotal part of establishing their company as an equitable, honest place to work, and are even willing to divulge their own numbers to prove it.

"Transparency promotes equality, reduces wage gaps and creates a more engaged workforce," says Eliot Vancil, CEO of Dallas-based fuel management and delivery company Fuel Logic. Vancil shared that he currently earns $150,000 as CEO, after earning $45,000 at the beginning of his career. He believes that transparency "guarantees that employees feel appreciated and can make informed career choices."

Being able to compare a company's compensation to the market value of a role also gives employees a baseline to negotiate, says Eloïse Eonnet, director of Coach Connect and career coach at The Muse Group. Yet 60% of working adults did not ask for a raise when they got hired for a job, according to a 2023 survey from Pew Research Center, with 49% of respondents aged 18-29 and 37% of those aged 30-49 saying they did not feel comfortable doing so.

"The number one detractor from successfully negotiating is the fear that they will be 'so far off' that the employer will be appalled by the number they put out," says Eonnet. "When salary transparency is there, it helps professionals approach the negotiation as an open discussion, which it absolutely should be."

To get inspired and put these ideas into practice, three leaders from the energy, technology and real estate industries share their career progressions, how experience shaped their self-advocacy and why salary transparency is here to stay.

Eliot Vancil, CEO of Fuel Logic

"Early on, I wish I had negotiated better and understood my market value more clearly," says Vancil. "I began my job as a marketing coordinator at a small technology firm, making approximately $45,000 per year. After two years, I moved on to a more significant business as a marketing manager, with a pay increase to around $65,000."

Vancil used his marketing experience and got client-relations exposure in his next job in customer service, which came with another significant pay jump to $80,000. From here, he moved on to upper management.

"After obtaining substantial expertise, I advanced to a senior marketing position at a major fuel distributor, earning over $100,000. This decision was motivated by my interest in the energy business and the opportunity to implement significant marketing initiatives."

Gaining insight into the fuel management industry, Vancil was ready to combine all of his skills and take on the top leadership position at Fuel Logic.

"I was appointed CEO, earning approximately $150,000. This position blended my enthusiasm for marketing, customer service, and strategic leadership. It's been the most rewarding aspect of my work, allowing me to impact the company's direction and culture substantially."

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Sam Tarantino, fractional CMO at marketing leadership platform Harmonic Reach

As the founder of music streaming service Grooveshark in 2006, Tarantino started his career in a challenging financial position while he rolled his income back into his business.

"My initial salary was non-existent for the initial years, focusing instead on growing the platform and securing investments," he says.

It paid off, however, as the company reached 30 million users and $15 million in annual recurring revenue, resulting in a "modest salary" says Tarantino, who was still reinvesting much of what he made.

Following this, Tarantino moved into freelance consulting for tech startups and music companies, which brought in around $80,000 a year, along with increased flexibility and fewer operational challenges than his previous role as business owner. He served in a few more senior leadership positions before settling into his current role as fractional CMO at Harmonic Reach.

"Negotiation and self-advocacy were critical lessons throughout these transitions," he says. "Earlier in my career, I was hesitant to negotiate robustly — something I've since rectified. My compensation extends to approximately $120,000 annually, with the potential for performance-based bonuses."

Joe Stance, founder of Stance Commercial Real Estate

"I started my career as an entry-level broker earning around $45,000 annually," Stance says. "After five years, I advanced to a senior broker position, bringing my salary up to about $80,000 plus commissions. This shift was prompted by my consistent high performance and the relationships I had cultivated."

As he gained experience, Stance developed the confidence to negotiate and pursued industry certifications and professional development opportunities. These skills helped him move up to VP of a large brokerage, earning roughly $150,000 along with bonuses. After almost five years in this position, he founded Stance Commercial Real Estate.

"This move came with significant financial risks, but the freedom to shape my client services and business ethics has been invaluable," Stance says, noting salary transparency as one of the key values in his workplace. "My income is now performance-based, often reaching higher than my previous roles when successful."