Hiring in the asset and wealth management industry rebounded in 2010 after two years of contraction, and salaries in the United States are set to show modest gains in 2011 along with new hires among retirement advisors and independent RIAs, according to a report to be released Monday by executive search firm Russell Reynolds Associates.
While overall U.S. pay is set to increase 10% to 15% this year, compensation in Canada, Europe and Asia is expected to jump 15% to 20%, although bonus pools will become final later this year than in previous years.
The 14th annual Russell Reynolds report, “Navigating the New Terrain in the Asset and Wealth Management Industry,” scheduled for release on Nov. 15, reviews talent and compensation trends within both traditional asset and wealth management firms and those focusing on alternative investments, including hedge funds, real estate, and private equity, in the Americas, Europe and Asia/Pacific.
Russell Reynolds Associates is a global executive search and assessment firm with its U.S. headquarters in New York. Through its 37 wholly owned offices, the firm’s 275 professionals conduct senior-level search assignments in a range of industries for public and private organizations of all sizes.