Treasurers Enjoyed Larger Pay Gains Than CFOs in 2010

Average compensation for financial professionals and corporate treasurers remained well above their white collar counterparts last year, according to the most recent Compensation Survey by the Association for Financial Professionals.

Average annual salaries among financial professionals and executives grew by 2.8 percent last year, nearly a whole percentage point above the national average. Meanwhile, bonuses increased to 16 percent of executives' base salaries, compared to 14 percent in 2009.

However, bonus distribution is on the wane, as 65 percent of surveyed organizations claimed they awarded bonuses last year, compared to 71 percent in 2009 and 74 percent in 2010.

Interestingly, treasurers earned the highest pay increases among top company executives with a 3.7 percent average gain, which is considerably higher than the 2.8 percent hike among CFOs. The change marks the second straight year that treasurers received larger raises than CFOs.

"The treasurer's ability to effectively manage liquidity was severely tested throughout the recession," said Jim Kaitz, president and CEO of AFP. "Companies are rewarding this important role with a healthy combination of base pay, incentives and benefits."

The trend also reflects the heightened responsibilities of finance professionals in the post-recession economy.