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Home News Financial Planning

Few planning bosses making millions

Perceptions that those running financial planning firms are making big bucks is wide of the mark for many of the industry’s top brass, data from the Money Management Salary Survey reveals.

by Staff Writer
August 13, 2015
in Financial Planning, News
Reading Time: 1 min read
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Chief executives, managing directors and practice principals in the planning sector also reported relatively modest incomes, with just one in five claiming to take home more than $250,000 a year.

The Money Management Salary Survey found that more than 60 per cent of the industry’s top brass reported taking home less than $170,000 a year.

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Despite making up almost 30 per cent of all respondents in this group, the survey found that no female chief executive, managing director or practice principal who took part in the survey, claimed an income of more than $220,000 a year. While 19 per cent of male respondents in this group said they earned more than $250,000.

While few chief executives, managing directors and practice principals reported salaries of less than $90,000 (five per cent), the majority reported that they believed a salary of between $90,000 and $170,000 would be fair remuneration for their role.

The survey found that almost a quarter of respondents felt they deserved to be paid in excess of $250,000 per annum, with seven per cent believing a salary of $500,000-plus was justified.

Tags: Chief ExecutiveSalary Survey

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