WEST PALM BEACH, FL (www.hedgeco.net) – The median pay for investment professionals in the United States has gone up by about 17 percent according to a new released report. The average pay hasincreased from$145,000 two years ago to $170,000 this year. The new report was released by the CFA institute, a New York based Russell and Reynolds Associates.
Such increases resulted from rallies seen in the past two years, according to the report such rallies helped to lift the asset management portfolios, which is the basis for negotiation of compensation packages for asset managers. Workers with about 10 years experience now earn an average of $240,000 per annum.
Debra Brown, a managing director at Russell Reynolds, said in an interview, “We’re seeing the renewed health of money management organizations.� The new report however noted that compensation for asset managers are still about 7 percent lower than what it was in 2001.
Individuals working for hedge fund firms are the highest paid amount other asset managers according to the report. The average hedge fund professional with more than 10 years experience will earn an average of $400,000 in 2005. In a surprising statement, the report noted that an average mutual fund portfolio manager will earn about $390,000 compared with about $330,000 for those working for hedge funds.
The report also noted that the median income for women workers is $152,000 compared to $175,000 for men.
Paul Oranika
Editor-in-Chief
HedgeCo.Net
Email: Editor@hedgeco.net
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