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Salaries Grow Steadily for Finance Officers.

Total average compensation for individuals who practice treasury and financial management was 8.1 percent higher in 2001 than it was in 2000, according to a recent survey conducted by the Association for Financial Professionals. Titles represented in the survey range from cash manager to chief financial officer. This upsurge outpaces the 4.8 percent increase in managerial and professional earnings as reported by the US Bureau of Labor Statistics. The survey found that financial officers' average total compensation (which includes base salary, bonus and deferred compensation) for 2001 was $122,t79. They earned $112,986 in 2000, when AFP last conducted its salary survey. Nearly 90 percent of the practitioner respondents reported receiving an increase in salary; assistant vice presidents of finance reported the largest average increase of 10.5 percent. Across industries, those working in the financial services/banking field scored the highest compensation gains (15 percent), followed by software/hardware (13.6 percent) and non-petroleum-energy (13.5 percent). Practitioners in the Northeast received higher salaries than respondents in other US regions. They also received the highest cash bonus, deferred compensation and total salary compensation.

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Publication:Business Credit
Article Type:Brief Article
Geographic Code:1USA
Date:Sep 1, 2001
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