PDF COMPENSATION GUIDE

[Pages:33]COMPENSATION GUIDE

FOR ANTI-FRAUD PROFESSIONALS

2015/2016 GLOBAL SALARY STUDY

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Table of Contents

Step Up and Stand Out: Letter from the President 3

INTRODUCTION ......................................................................... 4 About This Report....................................................................... 4 Highlighted Trends...................................................................... 5 EXECUTIVE SUMMARY............................................................. 6 Respondent Personal Profile....................................................... 6

Age Range of Participants........................................................ 6 Gender Differences.................................................................. 7 Education Information.............................................................. 8 CFEs vs. Non-CFEs................................................................... 9 Fraud-Related Experience....................................................... 10 Level of Professional Responsibility....................................... 11 Respondent Compensation Profile........................................... 12 Median Total Compensation.................................................. 12 CFE vs. Non-CFE Compensation............................................ 12 Compensation Ranges by Age and Gender........................... 13 Compensation Ranges by Education..................................... 13 Compensation Ranges by Job Function................................ 14 Fraud Examiner/Investigator and Internal Auditor.................. 16 Compensation Ranges by Level of Responsibility................. 18 Compensation Ranges by Primary Industry of Focus 18 Compensation Ranges by Fraud-Related Experience 19 Respondent Geographic Profile................................................ 19 U.S. vs. International............................................................... 19 Regional Compensation Comparison.................................... 21 Respondent Benefits Profile..................................................... 22 Benefits Information............................................................... 22 Retirement Plans.................................................................... 23 APPENDIX................................................................................. 24 Survey Methodology................................................................. 24 Disclaimer............................................................................... 24 ABOUT THE ACFE..................................................................... 25 Membership and Certified Fraud Examiners.......................... 25

2015/2016 Compensation Guide for Anti-Fraud Professionals

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Step Up and Stand Out

The measurable and immeasurable impact of earning

your Certified Fraud Examiner (CFE) credential

There is much more to earning the CFE credential than simply adding three new letters after your name. It is what those letters mean to you, your employers and your colleagues that make the accomplishment so profound. I imagine they mean something different for everyone: 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% salary premium.

like Mara McLaughlin's told below, 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 Mara and all who submitted data for this study -- this guide would not have been possible without you.

It is 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, and stories

James D. Ratley, CFE

President and CEO, Association of Certified Fraud Examiners

Step U the Pre

Becoming a CFE suddenly became a necessity rather than a goal due to major life changes that brought me

to where I am today. In 2007 I was doing consulting work and married with four young kids when my life drastically changed. Due to tough circumstances and a divorce in the years that followed I was suddenly faced with financial hardship and the reality that I needed to become the primary provider for my family. With the support of colleagues and an incredible network of family and friends my journey began, and, although it was the toughest time of my life, I learned some of the most important lessons my lifetime will bring.

I learned the importance of remaining positive, having faith and letting go of the little things. I also learned to graciously accept the help that so many kind people offered me. I remember being unable to afford the CFE Exam package but knowing the impact it would have on my career. I contacted the ACFE and asked them if they could help me as I told them about my struggles. The ACFE allowed me to study and submit payments intermittently throughout

the course of the next year, and I eventually earned

the credential in 2010. Two months after becoming

a CFE, I was hired as an investigator with the New

York State Department of Labor before transferring

to my current position at a different New York State

agency. 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. Although I secured the CFE credential under

Mara McLaughlin, CFE, Senior Investigator, New York State Insurance Fund

extreme circumstances, it was undoubtedly one of the best deci-

sions I made throughout my journey. Not only did it greatly impact

my career, but some of the most special people I've met during

recent years are fellow CFEs who always made the time when I

reached out for guidance. The kindness of colleagues continues to

be immeasurable.

2015/2016 Compensation Guide for Anti-Fraud Professionals

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Introduction

About This Report

This guide is based on research conducted for the Association of Certified Fraud Examiners (ACFE) by a professional research firm, Western Management Group. The compensation data has been aggregated in the following categories by CFEs vs. Non-CFEs so individuals can compare their own data to the results of their peers. These aggregations include:

? All Respondents (CFEs vs. Non-CFEs)

? Job Function

? Primary Industry of Focus

? Highest Level of Education Completed

? Age and Gender

? Years of Fraud-Related Experience

? Level of Responsibility

? Geographic Region

As you compare your compensation information to that of others in the anti-fraud profession, it is important to remember that the statistics published in this report should be regarded as guidelines rather than absolute standards. Because organizations will differ depending upon their location, size and other factors, any two organizations may offer their employees a reasonably attractive compensation package and yet be very different. For example, duration of employment and nature of prior experience will obviously influence the compensation offering for a particular individual. Thus, a deviation between anyone's compensation and a number appearing on a table in this report is merely an indication that additional scrutiny may be warranted.

In addition to compensation data, the survey collected information on benefits including: insurance; professional development/personal benefits; and retirement plans.

We are proud to present the enclosed insights into the compensation and benefits policies for the anti-fraud profession, and hope you will find this to be a useful guide. Thank you to all of the individuals who submitted data for this study.

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Highlighted Trends

The ACFE's 2015/2016 Compensation Guide for Anti-Fraud Professionals reveals that:

? CFEs continue to earn a significant premium over those without the credential. The survey found that CFEs earn 23% more than their non-certified counterparts.

? Overall, compensation levels across most industries remained relatively flat since the 2013/2014 Compensation Guide. The overall median compensation reported by the respondents is representative of this economic trend.

? In the U.S., almost every geographical region reported that having the CFE credential increased their earning potential. CFEs in the Mountain U.S. region reported the highest salary premiums, earning 26% more than non-CFEs.

? More than 29% of respondents are outside the U.S., the largest international sampling in the history of the survey.

? Of the respondents who indicated they are in executive level positions in their organizations nearly 79% are CFEs.

? The majority of respondents had more than five years of fraud-related experience. More than 20% of the responding CFEs had more than 20 years of fraud-related experience.

CFEs earn 23% more than their non-certified counterparts.

See how you compare at SalaryCenter

2015/2016 Compensation Guide for Anti-Fraud Professionals

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Executive Summary

Respondent Personal Profile

Age Range of Participants The largest group of survey participants was between the ages of 36 and 50, accounting for about 42% of both CFEs and non-CFEs. There were a greater percentage of non-CFE participants between the ages of 18 and 35 than CFE participants in the same age range. Conversely, there were a greater percentage of CFE participants over the age of 50 than non-CFE participants in the same age range.

Figure 1: Age Range of Participants

25.3% CFE

41.7%

33.0%

18-35 36-50 Over 50

Non-CFE

30.5%

43.1%

26.4%

0%

20%

40%

60%

80%

100%

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Gender Differences Almost two-thirds of the respondents were male with a median age of 43 and a median of 10 years of fraudrelated experience. Female respondents had a median age of 42 and had a median eight years of fraud-related experience.

Figure 2: Gender of Participants

35.6%

Male Female

64.4%

Figure 3: Median Age and Fraud-Related Experience by Gender

50

40

43

42

30

20

10 0 Median age

10 8

Median years of fraud-related experience

Male Female

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Education Information The majority of participants had at least a four-year college degree (93.5% of CFEs and 87.4% of non-CFEs). About 44% also had a graduate or post-graduate degree (44% of CFEs and 38.8% of non-CFEs). The responses indicate that very few anti-fraud professionals enter the field with less than a four-year degree or some form of post high-school, technical or trade school education.

Figure 4: Education of Participants

50%

10

40%

49.5% 48.6%

44.0% 38.8%

30%

20%

10%

2.5% 0% 1.0%

High school

5.7% 2.9%

Some college

4.4% 2.5%

Two-year college degree

Four-year college degree

Graduate or postgraduate degree

CFE

Non-CFE

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