Finance Professionals Had Average Pay Increase of 4.5 percent in 2007
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.”