Chief executives of U.S. money managers earn median total compensation of $264,000 annually, according to preliminary data from an international pay survey conducted by the Association of Investment Management and Research and Russell Reynolds. The survey, to be released in about two weeks on AIMRs website, also shows that COOs pulled in a median of $276,000, and chief investment officers earned $229,000.
Mutual fund portfolio managers were the best paid in their category, with a median salary of $130,000 and bonus of $80,000, followed by institutional managers at $115,000 in median pay and $60,000 in bonus.
The survey also found that women earned substantially less than men. For example, the median compensation for men with 10 or more years of experience is $245,000, compared with $200,000 for women. But that difference reflects the higher proportion of men in top jobs, such as CEO and CIO, and the higher proportion of men in general at leading securities firms, explained Deb Brown, managing director at Russell Reynolds.