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Salaries for Financial Professionals Increase Again
BETHESDA, MD - September 12, 2006 - Salaries for financial professionals grew 30 percent faster than for other white collar workers according to the 2006 AFP Compensation Survey, conducted by the Association for Financial Professionals (AFP) and underwritten by Spherion Corporation.
Based on data collected from over 5,000 respondents in over 900 companies, this year's report demonstrates the critical role treasury and finance professionals play in terms of corporate performance. Of the 27 job titles, included in the 2006 AFP Compensation Survey, 25 garnered more than the national average salary increase of 3.3 percent.
"AFP's Compensation Survey demonstrates the continued importance of financial professionals to the success of their organizations," said Jim Kaitz, president and CEO of the Association for Financial Professionals. "Year after year, salaries of treasury and finance professionals have increased faster than the national average. The survey results also emphasize the continuing importance of professional certification, such as the CTP designation, to the success of financial professionals."
The greatest average increase in base salary, 5.3 percent, belongs to management level positions. Financial professionals at the executive level were awarded the largest average bonuses, valued at 34percent of their base salary, or $46,500. At the support level, those with professional certifications, such as the CTP (Certified Treasury Professional) averaged a 24 percent higher base salary, than their uncertified counterparts.
The 2006 AFP Compensation Report analyzes pay structures, documents general compensation trends, and provides compensation comparisons based on organizational characteristics (size, industry, geographic region) and the experience level and degree of education of the individual in each job title. In addition to overall averages, this report also provides detailed job descriptions, organizational charts, and salary structures for 27 different job titles in seven different industries across the four regions of the U.S.
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Sample Salary, Bonus, Total Compensation by Title |
| Title |
2005 Base |
$2005 Bonus |
2005 Total Compensation |
2006 Base |
| CFO |
$175,500 |
$79,200 |
$238,400 |
$181,600 |
| VP of Finance |
$151,800 |
$49,800 |
$191,100 |
$156,900 |
| Treasurer |
$135,600 |
$50,800 |
$182,600 |
$144,000 |
| Asst. Treasurer |
$112,000 |
$31,800 |
$139,500 |
$117,700 |
| Director Treasury/Finance |
$118,900 |
$28,200 |
$144,600 |
$123,600 |
| Manager Treasury/Finance |
$85,700 |
$15,000 |
$98,600 |
$89,700 |
| Cash Manager |
$63,600 |
$9,100 |
$70,400 |
$66,800 |
| Source: AFP's 2006 Compensation Report |
An Executive Summary of the of AFP's 2006 Compensation Report is available at www.AFPonline.org. AFP members can also access the full report through the website.
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The Association for Financial Professionals, headquartered in Bethesda, Maryland, supports more than 15,000 individual members from a wide range of industries throughout all stages of their careers in various aspects of treasury and financial management. AFP is the preferred resource for financial professionals for continuing education, financial tools and publications, career development, certifications, research, representation to legislators and regulators, and the development of industry standards. Sponsored by the Association for Financial Professionals, the CTP designation is the globally recognized industry standard for treasury and a requirement for a changing profession. More than 16,000 professionals have earned AFP's certification since 1986.
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