The STRATMOR Group has launched its 2012 STRATMOR Compensation Survey, an annual look at the way the industry compensates the professionals working within it. STRATMOR conducts periodic surveys to gather detailed current data (by position) on base salary, bonus/incentive payments and related compensation strategies. In the past, the survey has been limited to invited lenders only. This year, the consultants will open up the study to a broader cross-section of industry participants.
“This year’s survey will be open to lenders of all sizes and company types,” said STRATMOR Group partner Nicole Shown Yung. “The Executive survey will include lenders who originated in any production channel, while the Sales and Fulfillment participants will be confined to either the Retail or Consumer Direct channels.”
For select positions, STRATMOR will statistically analyze the relationships that might exist between compensation levels and such variables as production volume, department staffing and productivity. We will also present compensation trends based on our outcomes from previous surveys. Lenders that participate in the survey will receive a report detailing their responses versus the survey averages, as well as a segmented analysis based on key company differences and characteristics. The result will be a more granular analysis to allow bankers to hone in on the best peer subsets for comparison and calibration.
“Lenders must pay the right amount to the right employee at the right time to enjoy success,” Yung said. “This is fundamental to ensuring that the organization hires and retains the best talent while simultaneously controlling costs and justifying compensation to its stakeholders. Our historical data, along with this year’s survey results, will give lenders the power to accomplish this.”