Salaries for Finance Professionals


Financial managers and risk analysts are in demand, private equity and hedge fund management firms are hiring, and businesses are scrambling to secure top talent in risk and compliance. In other words, the world is relying on the unique acumen of finance professionals now more than ever— and this is reflected in the salaries they’re being offered. 

It is important to note that actual income in the finance industry often far exceeds what is reported in terms of base salaries. Brokers are paid commissions, investment advisors typically charge a fee of between 2-3% for assets under management, and fund managers often enjoy huge bonuses and perks that aren’t shown in base salary reports.

Relying on the best and most reliable industry information available from the 2015 Robert Half Salary Guide, we highlighted the increases in salaries reported by professionals within the financial services sector between 2014 and 2015:

 

Find Schools

Banking and Finance Salaries

According to the Salary Guide, salaries among professionals in banking and finance increased across the board—many between 2.5 and 3.5 percent.

For example, fund managers earned an average salary of between $118,250 and $172,250 in 2014; in 2015, the salary range for these finance professionals increased by 3.4 percent to between $122,000 and $178,500.

Financial planners/analysts also experienced a salary increase of about 3 percent between 2014 and 2015, jumping from between $66,500 and $84,750 in 2014 to between $67,500 and $88,250 in 2015.

Other finance and banking professionals saw similar increases in their general salary ranges between 2014 and 2015:

  • Portfolio Manager: $107,000 - $151,500 in 2014; $109,500 - $158,000 in 2015, a 3.5 percent increase
  • Commercial Lender (3 to 5 years’ experience): $68,500 - $107,500 in 2014; $70,000 - $110,750 in 2015, a 2.7 percent increase
  • Private Banker (5+ years’ experience): $79,250 - $112,250 in 2014; $81,500 - $115,250 in 2015, a 2.7 percent increase
  • Credit Analyst (3 to 5 years’ experience): $57,750 - $73,750 in 2014; $59,500 - $76,750 in 2015, a 3.6 percent increase

Mortgage and loan processors and administrators did well in terms of salary increases between 2014 and 2015, with an average increase of about 3.4 percent:

  • Loan Underwriter: $46,000 - $65,750 in 2014; $47,000 - $68,500 in 2015, a 3.4 percent increase
  • Mortgage Underwriter: $40,500 - $59,000 in 2014; $41,500 - $61,250 in 2015, a 3.3 percent increase
  • Loan Administrator: $38,250 - $57,500 in 2014; $39,250 - $68,500 in 2015, a 3.4 percent increase

Risk Analyst and Compliance Manager Salaries

Some of the largest salary increases occurred in risk and compliance, with many of these professionals experiencing salary gains of more than 4 percent in just one year.

One particularly strong example was seen with compliance officers (in midsize firms), who earned between $86,000 and $118,500 in 2014, but saw that increase to between $88,250 and $124,750 in 2015, a 4.2 percent increase.

The following risk and compliance professionals also enjoyed impressive salary increases between 2014 and 2015:

  • Market Risk Analyst: $69,000 - $92,250 in 2014; $72,000 - $95,000 in 2015, a 3.6 percent increase
  • Operational Risk Analyst (3 to 5 years’ experience): $64,500 - $83,500 in 2014; $66,000 - $87,500 in 2015, a 3.7 percent increase
  • Compliance Manager (midsize firm): $73,750 - $98,000 in 2014; $76,000 - $102,750 in 2015, a 4.1 percent increase
  • Anti-Money Laundering Specialist: $68,500 - $92,000 in 2014; $71,500 - 95,500 in 2015, a 4 percent increase
  • Regulatory Affairs Specialist: $64,250 - $91,000 in 2014; $65,750 - $95,250 in 2015, a 3.7 percent increase

Operations Management Salaries in the Finance and Banking Sectors

Operations managers and specialists in the financial services sector also enjoyed salary increases between 2014 and 2015—albeit more modest ones. Banking and fund operations specialists saw salary increases of about 2.6 percent during this time:

  • Operations Manager: $56,500 - $82,000 in 2014; $57,500 - $84,250 in 2015, a 2.3 percent increase
  • Banking Operations Specialist (3 to 5 years’ experience): $48,500 - $60,750 in 2014; $49,500 - $62,750 in 2015, a 2.7 percent increase
  • Fund Operations Specialist (5+ years’ experience): $63,000 - $76,250 in 2014; $64,750 - $78,000 in 2015, a 2.5 percent increase

Accounting Salaries in the Finance Sector

Finance and accounting professionals saw similar salary increases between 2014 and 2015. One of the biggest jumps was among controllers of large firms, who experienced a 3.6 percent increase in pay in just one year. These financial professionals earned between $146,500 and $186,000 in 2014; but by 2015, their salary range increased to between $151,500 and $193,000.

Other salary increases among finance and accounting professionals included:

  • Hedge Fund Accountant (3 to 5 years’ experience): $61,000 - $78,750 in 2014; $62,500 - $81,500 in 2015, a 3 percent increase
  • Mutual Fund Accountant Manager: $72,500 - $93,750 in 2014; $74,750 - $96,250 in 2015, a 2.9 percent increase
  • Internal Auditor (1 to 3 years’ experience): $51,500 - $69,500 in 2014; $53,000 - $73,000 in 2015, a 4.1 percent increase

Find Schools

finance-salary