Senior executives who changed jobs last year received double-digit compensation increases, as they increased their cash compensation by 21.1 percent, on average, over what they earned at their previous organizations.

This increase applied to every industry and every functional area, according to executive search firm Salveson Stetson Group, which analyzed compensation data from a representative sample of the firm's senior executive placements among a variety of organizations in 2016. The compensation packages analyzed included base salary and incentive pay awarded last year.

The average compensation increase for a senior-level candidate accepting a new job in 2016 was up slightly from the 18.44 percent increase notched for 2015. READ MORE