“The simple answer is yes,” says John Borrowman, creator of the Borrowman Baker/BVR 2012 National BV Salary Survey Report. For instance, in breaking down compensation data by job functionality, the report reveals the average base salary for Level 2 employees (those with one or more BV credentials) is 4.4% higher than it is for Level 1 employees (those with no credential). “At Level 3,” Borrowman explains, “this differential or premium is 8.8%.”
At the same time, Borrowman is puzzled that the “premium” isn’t higher, given the emphasis that BV employers typically place on a prospect’s credentials. One possible reason: Although BV firms recognize the value of professional certifications, the marketplace may not have caught on yet, leaving less room for firms to charge higher rates for credentialed talent. For instance, the survey also indicates that BV firms do not appear to pay a premium for Level 2 employees with a graduate degree (as opposed to those without), but they do pay nearly 10% more for Level 3 employees with graduate degrees.
More highlights from the 2012 report. What’s the one factor that continues to have the biggest impact on bonus calculations for BV professionals? What salary target should you set to attract the best BV talent? To help establish your salary and retention policies for 2013, check out a copy of the Borrowman Baker/BVR 2012 National BV Salary Survey Report now.
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