Finance professionals’ salaries increased by 4.5 percent on average in 2007,
which was 36 percent higher than the national average increase for all
professions, according to the latest compensation report from the Association
for Financial Professionals.
The survey also noted that executive-level professionals in the
treasury/finance category received the biggest salary increase, an average of
5.1 percent. Managers received an average salary increase of 4.8 percent, while
those in staff positions averaged a gain of just below 4 percent.
For individual job titles, the manager of treasury and finance position saw
the highest average salary increase, at 6.6 percent, and the vice president of
finance position finished second, with a 5.6 percent boost. The average CFO’s
base salary increased by 4.6 percent.
The survey also showed that financial professionals with an MBA earned
salaries 19 percent higher than those with only a bachelor’s degree. And bonuses
for financial professionals increased by a healthy 16 percent last year, adding
significantly to their total compensation.
AFP president and CEO Jim Kaitz said financial professionals “are
demonstrating analytical and strategic decision-making skills, the desire to
earn advanced certifications and degrees and the desire to move their careers
forward and work hard to make their organizations succeed.”
Filed by Matthew Scott of Financial
Week, a sister publication of Workforce Management. To
comment, e-mail editors@workforce.com.
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