With digital transformation in full swing — AI, blockchain, machine learning, and mobile deposit — the retail banking landscape has certainly shifted. Though the in-person experience may be diminishing, user security concerns are at an all-time high. Maintaining trust-based relationships with your clients requires the right people in the right roles. A competitive pay strategy is key to securing and keeping your key employees.
The US FSS: Retail Banking survey includes salary data from more than 100,000 employee observations across 14 position families.
To help guide your compensation planning decisions, evaluate the data industry-wide, or by sub-category, including:
- Commercial bank
- Credit union
- Diversified financial
- Thrift
Current, reliable data
In light of the economic and workforce changes brought on by the COVID-19 pandemic, Mercer conducted a “data refresh” in August to address any market movement that occurred after the initial survey participation period. You will receive the results of the refresh free with your purchase.
This added step to ensure you have access to the most current, reliable data means you can move forward confidently with your pay decisions knowing that your data accurately reflect the market.
Are you ready to revamp your compensation strategy?