The northern contingent of nine smaller companies included five life sciences concerns, which often take years to produce significant revenues. The cash-strapped companies often tie executive bonuses and awards to other objectives, like inking a key joint development venture. The southern contingent meanwhile comprised a greater mix of retail, transportation and insurance companies alongside technology concerns. These other industries are not known for granting high options awards. According to Morrison, the Altman Weil consultant, higher pay is often directly attributable to a company's maturity.
Older companies tend to pay more, and sometimes it's a reflection of overall industry health.
Still, that kind of package can't compete with the options packages being thrown around by some Silicon Valley start-ups. The lure of stock options has helped create a fundamental shift in the way in-house positions are viewed. But I think it would be fair to say that the in-house position has certainly grown in terms of stature, respect and legitimacy. But Holliday didn't cite compensation as his primary motive for taking an in-house position. It was the opportunity.