The average annual salaries for financial professionals increased by 2.8 percent in 2010, according to a recent survey. The executive level of the finance profession experienced the highest salary growth, an average increase of 3.2 percent.
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Get Your Report Now!The 2011 AFP Compensation Survey also found that bonuses averaged 16 percent of for financial professionals’ base salaries, compared to 14 percent last year. Despite this increase there are fewer companies awarding bonuses (65 percent in 2010 versus 71 percent in 2009.)
Here are a few highlights from the survey:
- Treasurers earned the highest average increase within the executive tier, 3.7 percent, compared to 2.8 percent for CFOs.
- Staff level salaries increased by an average of 2.9 percent. Financial analysts received the highest raises within that category (4.3 percent.)
- Support-level financial professionals earned the smallest raises (2.5 percent.)
The survey also asked respondents what they consider when reviewing workers for promotions. Here are the findings:
- increased job responsibility (62 percent)
- an employee's contribution to profitability (52 percent)
- a professional designation (50 percent)
- an MBA (28 percent)
Source:
Association for Financial Professionals