New research from the Association for Financial Professionals (AFP) shows that despite a struggling economy, compensation for financial professionals in 2007 outpaced that of the national work force as a whole.
According to the AFP’s 2008 Compensation Report, financial professionals reported an average annual salary increase of 4.5 percent – more than 36 percent higher than the national average – and bonuses averaged 15 percent of their base salaries.
According to a press release issued by AFP, between January 1, 2007 and January 1, 2008, executive level financial professionals received the highest percentage increases in base salaries among all categories of treasury/finance professionals and staff. On average, executive level financial professionals garnered a 5.1 percent salary increase during the 12-month period studied.
The average increase for management positions was 4.8 percent, and staff level financial professionals averaged salary increases of just below 4 percent.