Cash compensation for wholesalers of investment products and services increased 3% in 2002, according to executive search and consulting firm DGL Consultants.
Wholesalers of mutual funds, annuities, managed money and retirement services saw their average compensation drop 18.6% in 2001. So, while the 3% gain in 2002 reversed the trend of the previous year, the total compensation is still well below 2000 levels.
DGL's study, 2002-2003 Sales Compensation Survey & Analysis, shows that wholesalers of variable annuities recovered the most in total cash compensation from the prior year. They saw a 4% increase.
Mutual fund wholesalers received an average total cash compensation of $191,500. Wholesalers in the 75th percentile saw compensation jump 9.6% in the year, while wholesaler incentive compensation jumped 2.7%.
Copyright 2003 Thomson Media Inc. All Rights Reserved.