Treasurers See Pay Increase in 2004
According to Greenwich Associates, its 2004 compensation research shows that the average salary rose 4% on the year, going from $170,000 to $177,000. Bonus levels are also expected to rise slightly to approximately 38% of salary, the survey reports.
For assistant treasurers, average total cash compensation levels were around $170,000, with the salary component rising 4% on average from $125,000 to $130,000 in 2004. For those who garner cash bonuses, bonus levels are expected to rise to comprise nearly 30% of salary.
Compensation for plan sponsors has shown strength throughout the prolonged bear market and beyond. Another Greenwich survey, conducted from the depths of the bear market two years ago, which includes the results from some 175 public funds around the country, found 25% of state funds with more than $5 billion in assets made bonuses available in 2002, up from 23% a year earlier. Still, bonus eligibility remains much more widespread in corporate circles than in the public funds-with 59% of the 319 corporate funds offering bonuses in 2002, up slightly from 2001, according to the Greenwich study.
For more on plan sponsor compensation, please see Feature: There’s No Place Like Home .
« Hewitt: K Plan Assets Flow to Equities after Election