CFA Society of Pittsburgh Member Survey

Transcription

1 CFA Society of Pittsburgh Member Survey Compensation, Benefits & Analysis Copyright, 2012 Brower Group All rights reserved

2 Methodology Sample Characteristics Salary Total Compensation Total Compensation by Location Benefits Compensation Change Employer Role/Job Function Compensation by Level Employer Size Geographic Comparison About CFA Society of Pittsburgh About Brower Group Contact Information Contents

3 Methodology This survey was a partnership between Brower Group and the CFA Society of Pittsburgh* Surveys were ed to 405 members of the CFA Society of Pittsburgh. Survey results were collected from April 9 until April 15, A total of 68 surveys were completed for a response rate of 17%. * The CFA Institute was not involved in this project.

4 Sample Characteristics Average age: 40.5 years Average years of professional experience: 16.6 Gender Male: 92% Female: 8% Location Work in Pittsburgh: 83% Work Elsewhere: 17% Level Individual Contributor 48% Manager 23% Senior Manager 28%

5 Salary The average (mean) salary was $155,921 per year The median salary was $125,000 Standard deviation of $166,497 Salaries showed a 6.9% average increase (2.0% median) in 2011 over 2010 Percent of Responses 50% 40% 30% 24% 43% $0-50,000 $50, ,000 $100, ,000 $150, ,000 20% 10% 0% 4% 10% 13% 1% 3% $200, ,000 $250, ,000 Over $300,000

6 Total Compensation The average 2011 total compensation (salary plus incentives) was $229,534 The median total compensation was $190,000 Average increased 5.7% (2.0% median) from 2010 Standard deviation of $174,142 45% 40% 40% $0-100,000 35% $100, ,000 Percent of Responses 30% 25% 20% 15% 13% 27% $200, ,000 $300, ,000 $400, ,000 $500, ,000 $600, ,000 10% 5% 0% 7% 4% 4% 1% 0% 1% $700, ,000 Over $800,000

7 Total Compensation by Location Total compensation for individuals working in Pittsburgh was $224,535 vs. $219,810 for other areas $250,000 $224,535 $219,810 $200,000 $150,000 $100,000 Pittsburgh Other $50,000 $-

8 Benefits The following is a list of the primary compensation and benefits received. All other benefits received negligible responses and were not listed. Percent of Responses 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 98% 89% 77% 71% 37% 31% 17% Salary Bonus 401k Health Plan Pension Equity Stock Options

9 Compensation Change The following chart shows that a large percentage of respondents received increased compensation in 2011 versus Salary Total Compensation 30% Increase Decrease 14% 15% Increase Decrease 0% 70% No Change 71% No Change

10 Employer 30% 25% 20% The largest concentration of Pittsburgh CFAs work for commercial banks and RIAs All other industries received less than 3% response 24% 24% 21% Commercial Bank RIA Mutual Fund 15% 10% 5% 13% 11% 8% 5% 5% Trust Company Investment Manager Consulting Insurance 0% Brokerage Answers add up to more than 100% because respondents could give multiple answers.

11 Role/Job Function Survey respondents work predominantly in portfolio management & analysis. Percent of Responses 50% 45% 40% 35% 30% 25% 20% 15% 10% 5% 0% 47% 27% 20% 19% 17% 13% 9% 6% 5% Portfolio Management Analyst Research Financial Advisor Sales Risk Management Consulting Trading Investor Relations Answers add up to more than 100% because respondents could give multiple answers.

12 Compensation by Level Senior executives receive the highest salary and total compensation. $350,000 $300,000 $250,000 $236,723 $301,144 $255,714 $200,000 $150,000 $100,000 $151,154 $110,732 $158,554 Individual Contributor Management Senior Management $50,000 $0 Salary Total Compensation

13 Employer Size $350,000 $350,000 $300,000 Employees $300,000 Employees $250,000 $200, $250,000 $200, $150,000 $100, ,000 1,001-10,000 Over 10,000 $150,000 $100, ,000 1,001-10,000 Over 10,000 $50,000 $50,000 $0 Salary $0 Total Compensation Results are not statistically significant due to the small number of responses in each range.

14 Geographic Comparison NYC Boston Pittsburgh Average Age Years Experience Male 87% 92% 92% Salary $148,301 $157,727 $155,921 Total Compensation $264,586 $266,048 $229,534 Salary Growth 4.7% 5.1% 6.9% Total Compensation Growth 7.7% 10.0% 5.7%

15 About CFA Society of Pittsburgh From its beginning in 1957, the Pittsburgh Society of Financial Analysts has been bringing together Pittsburgh's financial community in one organization. The CFA Society of Pittsburgh is over 400 members strong. The CFA Society of Pittsburgh offers a variety of member programs, ranging from monthly luncheon speakers to CFA study programs. The CFA Society of Pittsburgh promotes ethical and professional standards within the investment industry, encourages professional development through the CFA Program, and facilitates the open exchange of information and opinions.

16 About Brower Group Brower Group ( is a financial services executive recruiting firm with expertise in investment management, wealth management and banking. Based in Connecticut, Brower Group s clientele includes commercial banks, hedge funds, registered investment advisors, trust companies, insurance companies, private equity firms, asset management companies, pension funds, family offices and endowments.

17 Contact Information Patrick M. Slater President & CEO Brower Group Phone: (860) Web: LinkedIn: Malcolm Polley President CFA Society of Pittsburgh Phone: (724) Web: