2021 Compensation Report
The 2021 Compensation Report, sponsored by Newcleus Compensation Advisors has been released. In the survey, Bank Director, explores the effect of COVID-19 on banks as a proven, stable employer during a year of extreme unemployment throughout various industries. As always, compensation and benefits remain a critical aspect in securing the right talent for your organization. Emily, McCormick, VP of Research, asks
Given the industry’s low unemployment rate, will financial institutions — particularly smaller banks that don’t offer robust benefit packages like their larger peers — be able to attract and retain the employees they need?
The report takes a close look at employee benefits, talent and culture trends, CEO performance and pay, and director compensation.
Bank Director’s 2021 Compensation Survey, sponsored by Newcleus Compensation Advisors, surveyed 282 independent directors, chief executive officers, human resources officers and other. senior executives of U.S. banks below $50 billion in assets to understand talent trends, cultural shifts, CEO performance and pay, and director compensation. The survey was conducted in March and April 2021.
Compensation data for directors and CEOs for fiscal year 2020 was also collected in April from the proxy statements of 103 publicly traded banks. Almost half of the data represents financial institutions above $1 billion in assets; 51% represent a public bank.