Mutual fund managers' pay grew 30%

June 21, 1996|By NEW YORK TIMES NEWS SERVICE

The median combined salary and bonus of the heads of mutual fund groups jumped to $1.2 million last year, roughly 30 percent above the $926,000 of 1994.

In some cases, stock options, restricted stock and other incentives pushed those figures even higher, according to an annual study on fund executives' compensation by Fund Action, an industry newsletter in New York.

The study, conducted in conjunction with Buck Consultants, a management consulting firm, analyzed the pay of top fund executives as reported to the Securities and Exchange Commission by 15 publicly traded large and small fund companies.

How do the fund chiefs compare with top executives in other fields? Quite well. Fund Action cited a recent study by the Conference Board of 270 companies in five categories. Top executives at commercial banks were first, with median income of $953,000.

Pub Date: 6/21/96

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