It's summertime and the livin' is easy -- especially if you're one of America's financial elite.
A new survey of 11,800 corporate finance types and bankers, conducted by the Association for Financial Professionals, Bethesda, Md., found that those involved in the financial aspects of corporate life were well-rewarded for their efforts last year.
Total average salary compensation (including bonus and deferred compensation) of all categories of financial executives -- from president/chief executive officer to assistant cash manager -- was far above the Consumer Price Index-Urban's 2.7% increase for 1999 and the 4.9% growth in managerial and professional salaries reported by the U.S. Department of Labor.
For example, in 1999:
* president/CEO title-holders had the highest average total salary compensation at $210,039, an increase of 13% over 1998;
* chief financial officers' total average salary was $175,870, 9.3% higher than the previous year;
* assistant vice presidents of finance had an average total pay package of $130,368, an increase of 11.8% over 1998; and
* vice presidents of finance reported total average salary deals of $175,047, an increase of 10.8%.
Even those just starting to climb the finance ladder had nice increases in 1999. The average total salary for assistant cash managers increased by 7.2%, and for assistant treasurers, 8%. Accountants had the lowest average total salary growth in 1999, at 6.1%, with an average salary of $64,434.