COMPENSATION GUIDE FOR ANTI-FRAUD PROFESSIONALS

Transcription

1 COMPENSATION GUIDE FOR ANTI-FRAUD PROFESSIONALS 2015/2016 GLOBAL SALARY STUDY FRAUD EXAMINER/INVESTIGATOR

2 Table of Contents Letter from the President and CEO... 3 Fraud Examiner/Investigator... 4 Fraud Examiner/Investigator Median Total Compensation 4 Fraud Examiners/Investigators 5 Compensation Ranges for Fraud Examiner/Investigator Job Functions 6 Respondent Geographic Profile... 8 Survey Methodology About the ACFE ACFE.com/CompGuide

3 Letter from the President and CEO We often say that there is much more to earning the Certified Fraud Examiner (CFE) credential than simply adding three new letters after your name. It s what those letters mean to you, your employers and your colleagues that make the accomplishment so profound. So, what exactly do those letters, CFE, mean? They could mean hard work, expertise, drive, commitment, knowledge, insight the list could go on and on. And, as we have found in our 2015/2016 Compensation Guide for Anti-Fraud Professionals, they also mean a 23 percent salary premium. It s a unique opportunity for us to see the tangible and intangible benefits of earning the CFE credential. Because satisfaction and career development are intangible items, we often don t have a specific way to measure the true impact earning the credential has on someone s life, both professionally and personally. But with our new Compensation Guide, we can capture what it looks and feels like to not only increase your salary, but your worth. I hope you find the information in this Compensation Guide as interesting and enlightening as I do. Most importantly, thank you to all who submitted data for this study this guide would not have been possible without you. James D. Ratley, CFE President and CEO, Association of Certified Fraud Examiners FRAUD EXAMINER/INVESTIGATOR 3

4 Fraud Examiner/Investigator Fraud Examiner/Investigator was the second highest-rated job function with respondents. Figure 1: Fraud Examiner/Investigator Median Total Compensation CFE $80,000 Non-CFE $65,889 $0 $20,000 $40,000 $60,000 $80,000 $100,000 4 ACFE.com/CompGuide

5 Figure 2: Compensation Ranges for Fraud Examiners/Investigators Level of Responsibility Median Total Compensation CFE Non-CFE Executive $120,000 $81,000 Partner/Principal $170,981 $100,000 Vice President $100,000 $81,000 Director $140,000 $116,643 Supervisor/Senior Consultant $81,000 $62,000 Manager $90,959 $77,032 Staff/Consultant/Analyst $69,505 $56,400 Primary Industry of Focus Education $83,200 $44,000 Management Consultants $76,000 $87,878 Services $88,000 $52,000 Insurance $84,000 $69,000 Health Care $72,900 $67,700 Non-Profit $75,000 $36,110 Public/Chartered Accounting $67,018 N/A Financial Institutions $78,500 $65,108 Government $74,400 $65,199 Law Enforcement $72,500 $68,000 Manufacturing $110,532 $50,878 Real Estate $72,000 $70,710 Law/Legal Services $100,000 $73,500 Years of Experience 0-2 years $38,000 $54, years $62,000 $28, years $65,000 $40, years $75,700 $62, years $85,260 $77,000 FRAUD EXAMINER/INVESTIGATOR 5

6 Figure 3: Compensation Ranges for Fraud Examiner/Investigator Job Functions $200,000 $175,000 $150,000 $125,000 $100,000 $75,000 $50,000 $110, th $80, th $60, th $87, th $65, th $45, th $25,000 $0 Fraud Examiner/Investigator Compensation ranges reflect 25th, 50th (median) and 75th percentile. CFE Non-CFE 6 ACFE.com/CompGuide

7 Earning the CFE credential proved to be invaluable in so many ways. I became an advocate in helping colleagues, recent college graduates, and anyone struggling through tough times to recognize their abilities and the impact the CFE credential could have on their lives. Mara McLaughlin, CFE Senior Investigator, New York State Insurance Fund FRAUD EXAMINER/INVESTIGATOR 7

8 Respondent Geographic Profile Twenty-nine percent of the overall respondents indicated their primary location was outside the U.S., the highest in the history of the survey. The table below illustrates the total cash compensation by geographic region for all respondents, classified by CFEs and non-cfes. Figure 4: Overall Geographic Representation: By Region By Geographic Region Africa/Middle East CFE 25th percentile Median 75th percentile Non-CFE 25th percentile Median 75th percentile CFE Premium Based on median $24,089 $48,775 $90,686 $17,000 $34,135 $67, % Asia $22,500 $61,512 $114,149 $16,437 $34,245 $70, % Australia and New Zealand $67,373 $91,759 $136,083 $70,763 $87,498 $121, % Canada $67,496 $81,156 $100,440 $57,452 $72,317 $100, % Europe $62,645 $100,912 $148,000 $47,596 $80,113 $124, % Latin America $45,922 $83,145 $125,257 $32,352 $47,060 $92, % Other Countries Not Listed $45,620 $65,000 $90,600 $22,575 $42,000 $52, % United States $72,000 $96,000 $131,000 $60,000 $82,142 $117, % 8 ACFE.com/CompGuide

9 Figure 5: CFE Premium By Region Canada Asia 12.2% Europe United States 16.9% 26.0% 79.6% 76.7% 42.9% Africa/Middle East Australia and New Zealand 4.9% Latin America 54.8% Other Countries Not Listed FRAUD EXAMINER/INVESTIGATOR 9

10 Survey Methodology In order to ensure the confidentiality of the data, the ACFE contracted an objective, third-party research company, Western Management Group, to collect and compile the results. An with a link to an online questionnaire was sent to approximately 62,000 ACFE members in early February A total of 10,436 completed and useable responses were received by the end of February in time for processing, representing a 17% response rate. Based on 10,436 presumably random responses and 62,000 for the total population, this study has a +/- 0.87% margin of error (MOE) at a 95% level of confidence. In other words, we can be 95% certain that for a question with 10,436 responses, the survey s figure would be within +/- 0.87% percentage points of the actual universe s response. A margin of error of +/- 5% is typically accepted as the standard in association research, so this study s +/- 0.87% figure indicates a stronger than typical level of statistical integrity. Visit ACFE.com/ CompGuide to access the salary calculator and create your individual report. All data were checked both manually and by a specially designed computer editing procedure. Strict confidence of survey responses was maintained throughout the course of the project. 10 ACFE.com/CompGuide

11 About the ACFE The ACFE is the world s largest anti-fraud organization and the premier provider of anti-fraud training and education. Together with more than 75,000 members, the ACFE is reducing the incidence of fraud and white-collar crime worldwide and inspiring public confidence in the integrity and objectivity within the profession. Members of the ACFE include CPAs, auditors, lawyers, investigators, law enforcement officers, security professionals, executives, managers and anyone whose job involves preventing, detecting or deterring fraud. Certified Fraud Examiners (CFEs) The ACFE established and administers the Certified Fraud Examiner (CFE) credential. Globally preferred by employers, the CFE credential denotes proven expertise in fraud prevention, detection, deterrence and investigation. CERTIFIED FRAUD EXAMINER For more information about the ACFE and Certified Fraud Examiners, visit ACFE.com. FRAUD EXAMINER/INVESTIGATOR 11

12 FRAUD EXAMINER/INVESTIGATOR GLOBAL HEADQUARTERS THE GREGOR BUILDING 716 West Avenue Austin, TX USA Phone: (800) / +1 (512) [email protected] ACFE.com Share this guide: 2015 Association of Certified Fraud Examiners, Inc. ACFE, CFE, Certified Fraud Examiner, Association of Certified Fraud Examiners, the ACFE Seal, the ACFE Logo and related trademarks, names and logos are the property of the Association of Certified Fraud Examiners, Inc., and are registered and/or used in the U.S. and countries around the world.