Credit union executives are getting slightly larger raises this year, a new survey shows.
The latest CUES Executive Compensation Survey has found that the average base salary for credit union CEOs increased 4.37% in 2011, as opposed to 3.62% in 2010.
Total CEO compensation increases have also seen a boost. The rate of increase for base salary plus bonus was 5.01% this year, compared with 2.54% in 2010, and the increase in total compensation averaged 5.07%, up from 2.39% the previous year.
This survey—composed of 467 respondents, 77% of which participated last year—also indicate that board evaluations were the most common factor in setting incentive pay, identified by 57.8 % of respondents, followed by earnings, 57.1%; loan growth, 35.5%; membership growth, 21.3%; and member satisfaction, 20.9%.
Among other executives, base salary increases ranged from 3.04% for business lending executives to 7.30% for business development managers.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
