COMPENSATION SURVEY RESULTS 2015-2016 FISCAL YEAR · CFA Society Pittsburgh COMPENSATION TRENDS - SALARY 5 What is your current salary? Avg. & Median Salary By Experience 0 5 10 15

COMPENSATION SURVEY RESULTS

2015-2016 FISCAL YEAR

MAY 2016

CFA Society Pittsburgh

17%

25%

14%

12%

8%

24%

Wealth Management Asset Management

Commercial Bank Mutual Fund

Plan Sponsor / Endowment Other

SURVEY OVERVIEW

2

What type of organization do you

work for?• 75 Total Respondents

– Majority of respondents work

in Asset Management, Wealth

Management, Commercial

Banking, and Mutual Funds

– Other industries did not have

a significant number of

respondents (n<6) but are

included in aggregate data


SURVEY OVERVIEW

3

What is your role / title?

• 75 Total Respondents

– Majority of respondents work

as Portfolio Managers or

Research Analysts

– Other significantly represented

roles include CIOs/Directors of

Research and Consultants

Research Analyst, 14

Portfolio Mgr -SMA/Mutual

Fund, 13

Portfolio Mgr - Client/Bal.,

14

CIO/Dir. Of Research, 10

Consultant, 7

Other, 17

Research Analyst Portfolio Mgr - SMA/Mutual Fund

Portfolio Mgr - Client/Bal. CIO/Dir. Of Research

Consultant Other


SURVEY OVERVIEW

4

How many years of work

experience do you have?• 75 Total Respondents

– Most respondents have

significant work experience

– Average work experience of

17 years

– Median work experience of 18

years

4

16

7

12

16

10

8

0-5 5-10 10-15 15-20 20-25 25-30 30+


COMPENSATION TRENDS - SALARY

5

What is your current salary?Avg. & Median Salary By

Experience

0

5

10

15

20

25

$50K -$100K

$100K -$150K

$150K -$200K

$200K -$300K

$300K -$500K

# o

f re

spondents

$89K

$103K

$123K

$153K

$178K

$189K

$208K

$71K

$89K

$119K

$152K

$140K

$173K

$193K

$108K

$90K

$115K

$150K

$155K

$155K

$208K

$71K

$95K

$125K

$127K

$129K

$149K

$196K

$0 $50,000 $100,000 $150,000 $200,000 $250,000

0 - 5

5 - 10

10 - 15

15 - 20

20-25

25-30

30+

Years

of E

xperience

2014 Median Salary 2015 Median Salary

2014 Avg. Salary 2015 Avg. Salary


COMPENSATION TRENDS – SALARY CONT’D

6

Avg. & Median Salary By Industry

• In aggregate, most respondents

have a salary between $100K -

$150K

– Work Experience appears to

drive most variations in salary

– Plan Sponsors / Endowments

/ Foundations saw both the

highest increases in average

and median salary over 2014

(13.8% and 14.3%,

respectively)

$0

$20,000

$40,000

$60,000

$80,000

$100,000

$120,000

$140,000

$160,000

$180,000

$200,000

2015 Avg. Salary 2014 Avg. Salary

2015 Median Salary 2014 Median Salary


COMPENSATION TRENDS – BONUSES & OTHER

7

Bonus Distribution

• The proportion of respondents

receiving a bonus was largely

unchanged from 2014 (85% vs.

88% of respondents)

• While the average bonus was

down ~13% from 2014 ($100K vs.

$115K), the median bonus

increased 20% ($48K vs. $40K)

• Profit-sharing and Company

Stock/Options were the most

common forms of other

compensation

56% 53%

16%17%

9% 11%

6% 4%

2% 5%

11% 9%

85% 88%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

2015 2014

<$50K $50K - $100K $100K - $150K

$150K - $200K $200K - $250K >$250K


COMPENSATION TRENDS – TOTAL COMPENSATION

8

What is your total compensation?Avg. & Median Total Compensation

By Experience

0

5

10

15

20

25

# o

f re

spondents

2015 2014

$97K

$135K

$131K

$278K

$280K

$254K

$409K

$92K

$117K

$177K

$252K

$258K

$307K

$510K

$114K

$130K

$125K

$292K

$211K

$251K

$338K

$92K

$115K

$150K

$158K

$188K

$273K

$277K

$0K $100K $200K $300K $400K $500K $600K

0-5

5-10

10-15

15-20

20-25

25-30

30+

Years

of E

xperience

2014 Median 2015 Median 2014 Avg. 2015 Avg.


COMPENSATION TRENDS – TOTAL COMP. CONT’D

9

Avg. and Median Total Comp. By Industry

$199K

$229K

$182K

$207K

$398K

$223K

$161K

$380K

$158K $168K

$378K

$204K

$149K

$181K

$142K

$172K

$303K

$179K

$136K

$231K

$143K$153K

$270K

$168K

$0K

$50K

$100K

$150K

$200K

$250K

$300K

$350K

$400K

$450K

Wealth Management Asset Management Commercial Bank Plan Sponsor/Endowment/Foundation

Mutual Fund Other

2015 Avg. 2014 Avg. 2015 Median 2014 Median


COMPENSATION TRENDS – SATISFACTION

10

How satisfied were you with your compensation for 2014? (7=Highly

Satisfied, 1=Highly Unsatisfied)?

Approximately half of respondents are satisfied (4+) with their current

compensation

0%

5%

10%

15%

20%

25%

1 2 3 4 5 6 7

% o

f re

spondents

Satisfaction Score

2015 % 2014 %

Satisfaction

Score

2015 Avg.

Comp.

2014 Avg.

Comp.

2015 Median

Comp.

2014 Median

Comp

1 $187,850 $232,088 $126,074 $109,100

2 $193,857 $170,167 $112,000 $148,500

3 $183,336 $303,100 $160,000 $206,000

4 $213,275 $135,536 $171,500 $145,000

5 $200,764 $207,000 $150,000 $175,000

6 $223,380 $293,618 $150,000 $190,000

7 $411,354 $311,017 $350,000 $344,000

Role / Title

Avg. Satisfaction

Score

Median

Satisfaction Score

Research Analyst 3.5 3.5

Portfolio Mgr. - Client/Bal. 4.1 4.0

Portfolio Mgr. - SMA/Mutual Fund 4.5 4.0

CIO/Dir. Of Research 5.2 5.0

Investment Consultant 5.0 6.0

Other 4.8 5.0


COMPENSATION TRENDS – TOTAL COMP. CONT’D

11

Median Salary & Compensation by Role

2015 Median

Salary

2014 Median

Salary

2015 Median

Bonus

2014 Median

Bonus

2015 Median

Total Comp.

2014 Median

Total Comp.

Bachelors Degree $112,500 $120,000 $17,838 $20,000 $134,000 $150,000

Graduate Degree or Higher $150,000 $134,000 $50,000 $46,000 $246,000 $197,000

Median Salary & Compensation by Education

2015 Median

Salary

2014 Median

Salary

2015 Median

Bonus

2014 Median

Bonus

2015 Median

Total Comp.

2014 Median

Total Comp.

Research Analyst $96,250 $93,250 $26,678 $20,000 $125,537 $115,750

Portfolio Manager - Separate Accounts/Mutual Fund $180,000 $141,500 $125,000 $115,000 $275,000 $270,000

Portfolio Manager - Client/Balanced Accounts $117,500 $126,000 $28,500 $32,000 $149,250 $151,500

Chief Investment Officer/Director of Research $201,000 $147,000 $37,500 $36,500 $228,000 $204,500

Investment Consultant $140,000 $95,000 $60,000 $27,000 $325,000 $145,000

Other (Please Specify) $122,500 $172,500 $26,843 $19,000 $167,500 $230,500

Business Development/Sales $200,000 $163,000 $350,000 $462,000 $496,000 $639,000

Risk Management $129,500 $142,500 $39,500 $40,000 $169,000 $195,000

Manager of Manager $115,000 $120,000 $3,000 $10,500 $118,000 $195,000

Relationship Management $100,000 $127,000 $20,000 $10,000 $120,000 $137,000

CFA Society Pittsburgh 12

INDUSTRY SPECIFIC SUMMARIES


SALARY & COMP. TRENDS – MUTUAL FUNDS

13

Salary and Total CompensationSalary & Compensation By

Experience

Note: No respondents with 0-5 or 10-15 years of experience

0

1

2

3

4

5

6

7

$100K -$150K

$150K -$200K

$200K -$250K

$250K -$300K

$300K -$500K

$500K -$1MM

$1.0MM -$1.5MM

# o

f re

spondents

2015 Salary 2014 Salary 2015 Total Comp. 2014 Total Comp.

$103K

$172K

$195K

$141K

$360K

$103K

$175K

$160K

$141K

$360K

$150K

$308K

$379K

$246K

$150K

$305K

$275K

$246K

$1,120K

$0K $200K $400K $600K $800K

5-10

15-20

20-25

25-30

30+

Years

of E

xperience

Median Total Comp. Avg. Total Comp.

Median Salary Avg. Salary

$1,120K


SALARY & COMP. TRENDS – ASSET MANAGEMENT

14


Experience

Note: No respondents with 0-5 or 10-15 years of experience

0

1

2

3

4

5

6

7

8

# o

f re

spondents

2015 Salary 2014 Salary 2015 Total Comp. 2014 Total Comp.

$102K

$167K

$163K

$143K

$201K

$87K

$150K

$148K

$170K

$201K

$137K

$347K

$185K

$227K

$468K

$93K

$374K

$168K

$263K

$468K

$0K $100K $200K $300K $400K $500K

5-10

15-20

20-25

25-30

30+

Years

of E

xperience




SALARY & COMP. TRENDS – WEALTH MANAGEMENT

15


Experience

0

1

2

3

4

5

6

7

8

9

10

$50K -$100K

$100K -$150K

$150K -$200K

$200K -$250K

$250K -$300K

$300K -$500K

$500K -$1MM

# o

f re

spondents

2015 Salary 2014 Salary

2015 Total Comp. 2014 Total Comp.

$83K

$113K

$115K

$115K

$125K

$110K

$163K

$83K

$113K

$115K

$115K

$125K

$110K

$163K

$110K

$128K

$127K

$155K

$432K

$150K

$263K

$110K

$128K

$125K

$155K

$432K

$150K

$263K

$0K $100K $200K $300K $400K $500K

0-5

5-10

10-15

15-20

20-25

25-30

30+

Years

of E

xperience




SALARY & COMP. TRENDS – COMMERCIAL BANKING

16


Experience

0

1

2

3

4

5

6

$50K -$100K

$100K -$150K

$150K -$200K

$200K -$250K

$250K -$300K

$300K -$500K

# o

f re

spondents



$60K

$95K

$105K

$138K

$80K

$160K

$156K

$60K

$95K

$105K

$138K

$80K

$160K

$156K

$60K

$142K

$129K

$341K

$95K

$205K

$185K

$60K

$142K

$129K

$341K

$95K

$205K

$185K

$0K $100K $200K $300K $400K

0-5

5-10

10-15

15-20

20-25

25-30

30+

Years

of E

xperience




SALARY & COMP. TRENDS – PLAN SPONSOR /

ENDOWMENT / FOUNDATION

17


Experience

Note: No respondents with 0-5, 15-20, 25-30, or 30+ years of

experience

0

1

2

3

$50K -$100K

$100K -$150K

$150K -$200K

$200K -$250K

$250K -$300K

$300K -$500K

$500K -$1MM

# o

f re

spondents



$139K

$183K

$191K

$139K

$183K

$160K

$144K

$183K

$257K

$144K

$183K

$160K

$0K $50K $100K $150K $200K $250K $300K

5-10

10-15

20-25



COMPENSATION SURVEY RESULTS 2015-2016 FISCAL YEAR · CFA Society Pittsburgh COMPENSATION TRENDS - SALARY 5 What is your current salary? Avg. & Median Salary By Experience 0 5 10 15

Documents