For two years straight, treasury and finance professionals experienced have seen an increase in pay, according to new research by gtnews’ parent, the Association for Financial Professionals (AFP). The 2015 AFP Compensation Survey of more than 3,300 treasury and finance professionals found that respondents received a 4.1 percent gain in their base salaries during 2014, an increase from the 3.8 percent increase reported in last year’s survey.
This year’s compensation report includes updated job descriptions for the 20 titles tracked, and it covers compensation data for financial planning and analysis (FP&A) professionals.
Raises occurred in 2014 on every professional level:
- Executive-level finance professionals’ salaries increased 3.5 percent.
- Management-level finance professionals’ salaries increased 4.6 percent.
- Staff-level finance professionals’ salaries increased 3.4 percent.
“The 2015 Compensation Survey shows how highly organisations value the skills and expertise of treasury and finance professionals,” said Jim Kaitz, president and CEO of AFP. “Just as they helped steer their companies through difficult times, treasury and finance professionals are also helping them grow.”
In the executive tier, treasurers and controllers/comptrollers garnered the highest average base salary increases of 4 percent and 3.9 percent, respectively. Within the management tier, cash managers obtained the highest average salary increase of 8.3 percent—the largest increase for the 20 job titles tracked in the survey.
Bonuses were bountiful in 2014, as 72 percent of organisations awarded bonuses to their treasury and finance employees. On average, finance professionals received bonuses equivalent to 18 percent of their 2014 base salary. Executive-level finance professionals received the largest bonuses, with an average bonus of $57,500 or 34 percent of base salary. Education played a role in compensation as well. Treasury and finance professionals who held a MBA or graduate degree on average earned more than $9,000 higher than their peers. In addition, professional certifications such as AFP’s Certified Treasury Professional (CTP) contribute to the upward mobility and career advancement of financial executives.
View the entire 2015 AFP Compensation Survey at www.AFPonline.org/CompReport.
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