The median total compensation for investment professionals working for mutual funds jumped 38 percent, to $270,500 in 2001, from $196,000 in 1999, according to a survey released today by the Association for Investment Management Research of Charlottesville, Va. and Russell Reynolds Associates of New York.
Mutual fund portfolio managers, analysts and top level executives make, on average, 37 percent more than their counterparts at banks, investment counseling firms, brokerages, insurance companies and private foundations, according to the survey.
The survey, which is based on the anonymous responses of 10,000 AIMR members in the U.S., U.K., Canada, Hong Kong and Singapore, calculates compensation based on the respondents current 2001 base salaries, anticipated 2001 cash bonuses and an estimate of the actual 2000 non-cash compensation, including incentive packages.
