The eighth annual Survey of Mutual Fund Chief Compliance Officer Compensation and Organizational Practices found that many CCOs have seen steady increases in their salaries in the past couple of years. The study, conducted by Management Practice, Inc., is based on 2012 information from 60 mutual fund CCOs. The average total compensation for the 60 participants was $358,760, up from $342,100 in 2011 – a gain of 4.9 percent. The study also found that 94 percent of CCOs received a bonus as part of their total compensation, ranging from 25 percent to 100 percent of their base pay. The report shows that the individual salary range was wide – from $115,000 to $750,000 – and depended on variables such as geographic location, number of funds and portfolios, type of distribution channel, number of sub-advisers and inclusion of insurance-related products. The summary of the study can be found here.
The Forum will host Jay Keeshan and Merick Payne of MPI, who conducted the study, for an in depth analysis of the study findings as part of the Forum’s webinar series on Tuesday, November 12 at 2 pm ET. To register for the webinar, click here.