WASHINGTON, D.C. - May 22, 2013 - North American finance
professionals continue to see pay raises, but percentage increases
fell last year for all but the executive tier, according to a
survey by the Association for Financial Professionals (AFP).
Average salaries for professionals in finance departments of
corporations increased by 3.4 percent in 2012.
The 2013 AFP Compensation Survey provides base salary and bonus
information for jobs in the finance profession for calendar year
2012 as well as data on base salaries effective on January 1, 2013.
AFP has conducted this survey for 25 years.
At the executive level, the average percentage increase
was 3.8 percent, up from 3.3 percent in 2011 and higher than in any
year since 2008. Among executives, CFOs and treasurers reported the
highest increase at 4.3 percent each.
"A low interest-rate environment, increased regulations around
the world, complex financial technologies and heightened risks, are
a few of the challenges that treasurers and CFOs face," said Jim
Kaitz, AFP's president and CEO. "Their salary increases reflect the
level of responsibility that companies place in their treasurers
Management-level professionals reported an increase of 3.5
percent in 2012, down slightly from 3.7 percent in 2011.
Staff-level professionals saw a 3.1 percent increase, down
from 3.5 percent in 2011. Of all tracked job titles,
however, Assistant Cash Managers received the largest salary
increase in 2012 - 4.7% on average.
Advanced degrees and certifications were linked to higher
salaries, especially at the staff level, where MBAs earned about
19.2 percent more than peers without an MBA, but the percentage
difference tended to shrink to 8.1 percent at the executive level.
Professionals with a Certified Treasury Professionals
TM credential at the staff level earned on average
eight percent more than their uncertified peers.
ABOUT THE SURVEY
The Association for Financial Professionals (AFP) conducted its
25th annual compensation survey in February 2013, measuring
compensation information for finance, treasury, and accounting
positions by job title, education, geographic region, industry,
company size, gross revenue and years of experience. The report
also presents analysis on pay structures, documents general
compensation trends for the finance profession, and includes job
descriptions. Over 2,700 financial professionals responded on
behalf of more than 4,300 incumbents holding the tracked job
titles, evenly distributed across the United States.
Looking ahead, the 2014 survey will reflect additional job
categories linked to corporate financial planning and analysis as
AFP prepares to launch the Certified Corporate FP&A
Professional TM designation.
More information: www.afponline.org/compsurvey
ABOUT AFP (R)
The Association for Financial Professionals (AFP), headquartered
outside Washington, D.C., is serves a network of more than 16,000,
members with articles, economic research and data, networking
events, financial analytical tools, training, and public policy
representation to legislators and regulators. AFP's global reach
extends to over 150,000 treasury and financial professionals
worldwide, including AFP of Canada; London-based gtnews, an on-line
resource for the treasury and finance community; and bobsguide, a
financial IT solutions network.