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CFA Society of Pittsburgh Member Survey
17
CFA Society of Pittsburgh Member Survey Copyright, 2012 Brower Group All rights reserved Compensation, Benefits & Analysis
Transcript of CFA Society of Pittsburgh Member Survey
CFA Society of Pittsburgh
Member Survey
Copyright, 2012 Brower Group All rights reserved
Compensation, Benefits & Analysis
Contents
• 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
Methodology
• This survey was a partnership between Brower Group and the CFA Society of Pittsburgh*
• Surveys were e-mailed to 405 members of the CFA Society of Pittsburgh.
• Survey results were collected from April 9 until April 15, 2012.
• A total of 68 surveys were completed for a response rate of 17%.
* The CFA Institute was not involved in this project.
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%
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
4%
24%
43%
10% 13%
1% 3%
0%
10%
20%
30%
40%
50%
$0-50,000
$50,001-100,000
$100,001-150,000
$150,001-200,000
$200,001-250,000
$250,001-300,000
Over $300,000
Percent of Responses
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
13%
40%
27%
7% 4% 4%
1% 0% 1% 0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
$0-100,000
$100,001-200,000
$200,001-300,000
$300,001-400,000
$400,001-500,000
$500,001-600,000
$600,001-700,000
$700,001-800,000
Over $800,000
Percent of Responses
Total Compensation by Location
• Total compensation for individuals working in Pittsburgh was $224,535 vs. $219,810 for other areas
$224,535 $219,810
$-
$50,000
$100,000
$150,000
$200,000
$250,000
Pittsburgh
Other
Benefits
• The following is a list of the primary compensation and benefits received. All other benefits received negligible responses and were not listed.
98% 89%
77% 71%
37% 31%
17%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Salary
Bonus
401k
Health Plan
Pension
Equity
Stock Options
Percent of Responses
Compensation Change
• The following chart shows that a large percentage of respondents received increased compensation in 2011 versus 2010.
70% 0%
30%
Salary
Increase
Decrease
No Change 71%
14%
15%
Total Compensation
Increase
Decrease
No Change
Employer
• The largest concentration of Pittsburgh CFAs work for commercial banks and RIAs
• All other industries received less than 3% response
24% 24%
21%
13% 11%
8%
5% 5%
0%
5%
10%
15%
20%
25%
30% Commercial Bank
RIA
Mutual Fund
Trust Company
Investment Manager
Consulting
Insurance
Brokerage
Answers add up to more than 100% because respondents could give multiple answers.
Role/Job Function
• Survey respondents work predominantly in portfolio management & analysis.
47%
27%
20% 19% 17%
13%
9% 6% 5%
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
Portfolio Management
Analyst
Research
Financial Advisor
Sales
Risk Management
Consulting
Trading
Investor Relations
Percent of Responses
Answers add up to more than 100% because respondents could give multiple answers.
Compensation by Level • Senior executives receive the highest salary and total
compensation.
$110,732
$158,554 $151,154
$255,714 $236,723
$301,144
$0
$50,000
$100,000
$150,000
$200,000
$250,000
$300,000
$350,000
Salary Total Compensation
Individual Contributor
Management
Senior Management
Employer Size
$0
$50,000
$100,000
$150,000
$200,000
$250,000
$300,000
$350,000
1-5
6-25
26-100
101-1,000
1,001-10,000
Over 10,000
Employees
$0
$50,000
$100,000
$150,000
$200,000
$250,000
$300,000
$350,000
1-5
6-25
26-100
101-1,000
1,001-10,000
Over 10,000
Employees
Salary Total Compensation
Results are not statistically significant due to the small number of responses in each range.
NYC Boston Pittsburgh
Average Age 35.6 38.5 40.5
Years Experience 11.5 14.5 16.6
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%
Geographic Comparison
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.
About Brower Group
• Brower Group (www.browergroup.com) 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.
Contact Information
Patrick M. Slater
President & CEO
Brower Group
Phone: (860) 676-8400
Web: www.browergroup.com
E-mail: [email protected]
LinkedIn: www.linkedin.com/in/patslater
Malcolm Polley
President
CFA Society of Pittsburgh
Phone: (724) 465-1443
Web: www.cfasociety.org/pittsburgh
E-mail: [email protected]
