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Management Strategies

02:44 PM
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Financial Services IT Salary Survey Sheds Light on Critical Pay Areas

The Financial Information Services Division (FISD) of the Software & Information Industry Association in conjunction with Lakefront Data Ventures, a boutique data management firm, released the Financial Information Industry Salary Survey 2008/2009.

According to a release, the goal of the salary survey is to provide the financial services sector with current information for planning and analysis, information that may prove particularly critical to the industry in the present economic situation.

There were 300 participants from a variety of financial services and data management companies, including software vendors, sell side and buy side firms, retail banking, and consulting firms.

Some highlights include:

  • The majority of respondents made between $100,000-150,000 (over 30%).
  • Even though Retail Banking's minimum salaries were second highest of the list ($62,500, tied with consultants/integrators), pay here tended to max out at $175,000, the lowest out of the 10 industries represented in the survey.
  • Hedge Funds and Consultants/Integrators had the greatest potential in terms of maximum salary: $326,087 and $398,551, respectively.
  • When looking at individual professions of participants, Help Desk Analysts made the lowest maximum salary ($90,580).
  • Business Analyst and Management (VP, director, manager) earned some of the highest maximum salaries, $398,551 and $326,087, respectively.

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