The average pay in 2007 for a high-level money management executive, including CEO, president and managing director, was $856,000 in 2007, according to a new study by Advent Software. The median pay for those executives was $380,000, according to the 2007 Asset Management Operations and Compensation Study, released today. The average CIO/director or researcher made $696,000 with a median of $284,000. Senior investment officers and portfolio managers made an average of $411,000 with a median of $317,000, while the average salary for operations managers was $117,000 with a median of $91,000.
Advent surveyed 100 investment firms, all clients of Advent, with $100 million to almost $25 billion in assets under management. On average, 63% of the assets came from individual investors with the bulk of the remainder from institutions, according to the study. An official at Advent could not be reached for further comment before press time.