Influences on salary. Treasury and finance professionals' earnings are also influenced by factors such as experience, education level, and professional certification. Additionally, geographic location, industry, and organization size play a part in determining total compensation.

Education. Survey results indicate that in 2022 finance professionals with an MBA earned an average base salary that was approximately $19,000 higher than that of their counterparts who held only a bachelor's degree or high school diploma/associate degree.
Certification. Finance professionals who hold a professional certification can claim prestige and credibility in their field. Among the most recognized and respected certifications in the profession are the Certified Treasury Professional (CTP), Certified Public Accountant (CPA), and Certified Corporate Financial Planning and Analysis Professional (FPAC) designations. For certain job titles, incumbents who hold certifications tend to have higher salaries than those in similar positions who do not.
Region. Finance professionals' salaries can also vary depending on the location of their organization. In examining the average base salary of finance professionals in each of the four regions of the United States (as defined by the U.S. Census Bureau), AFP added a "virtual" region this year to include those respondents whose organizations are exclusively virtual. The typical finance professional in the Northeast earned the highest base salary in 2022—a mean of $131,735 and 9 percent more than that earned by a peer in the Midwest ($120,852).
Industry. AFP Compensation Survey data over the years has revealed that average salaries vary by industry. In 2022, average base salaries ranged from $109,487 for treasury and finance professionals in the government/nonprofit sector to $134,746 in the energy/utility sector—a 19 percent difference.
Organization size—as measured by annual revenue or size of workforce—is another influence on employees' salaries, and the survey data reveals disparities in salaries based on both annual revenue and number of employees. In 2022, the typical finance professional at a company with annual revenue under $100 million earned an average base salary of $111,328; their counterpart at a company with at least $1 billion in annual revenue earned an average of $146,612—a difference of 24 percent. There is a similar pattern when looking at organization size by number of employees. Finance professionals at organizations with 1,000 or more employees earned 14 percent more, on average, than their peers at organizations employing fewer than 250 employees.

Upward mobility. Various factors influence a treasury or finance professional's potential for promotion. The primary criterion for upward mobility is increased job responsibility (cited by 81 percent of respondents). Sixty-one percent of respondents noted that company growth often leads to upward mobility opportunities in their organization.

Instant Insights /

Treasury and Finance Pros' Salaries Are Rising in a Tight Job Market

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