I read an interesting article in Inc. Mag, “The True Cost of Expertise”. In it, the article detailed compensation increases as a relation to years of experience. HR calls it “the maturity curve”. Of all the positions in admin, sales & marketing, tech and finance, financial analysts, as a group are among those to likely NOT have salary increases after 5 years of experience. In fact, those with 10 years of FA experience were paid 5% more than those with 5 years of experience! (corporate finance side).
Will you mind posting the article here?
Joe, I actually subscribe to the magazine. I couldn’t find the article online. Next time your at borders/barnes check it out.
Cool, al check it out.
Mason, how would you compare Inc. magazine to Entrepreneur mag?
There has to be some survivorship bias here. I mean, the good FAs probably move up and on, while the lousy ones stick around for years on end.
Yep, classic case of survivorship bias.
The FA comp stats were based as a group. I’m sure there are outliers. It did fall under corporate finance rather than investment/consulting/Ibanking FAs. AliMan, not sure. I just used some of my frequent flyer miles to buy a subscription. I’m not familiar with the Entrepreneur magazine.
The ones that last also take on the cleints of the ones who have gone
Right, in general corp finance you max out at Sr FA at like 80-90K and then you sit there.