ATLANTA–FMSI has published an infographic that offers a summation of its latest Retail Salary & Benefit Study.
The Salary & Benefit Study for Community Banks and Credit Unions is based on a compilation of labor statistics, built from financial institutions all across North America. This year’s study indicates a wide rate variation between both the segmented regions and institution sizes, the company said.
“We are in a unique position in that we have access to data comprised of more than 10,000 financial services employees from over a thousand financial institution branches,” said W. Michael Scott, FMSI chairman and CEO. “Our Salary & Benefit Study compiles this valuable information and presents it in several different charts, allowing financial institutions to either validate or potentially adjust their unique rates to be more in-line with industry standards.”
The complimentary FMSI Salary & Benefit Study includes the following aggregated salary & benefit (S&B) rates from hundreds of financial institutions:
- Average Hourly S&B Rates per Specific Region
- Average Hourly S&B Rates by Institution Size
- Average Hourly S&B Rates for Part-Time Employees
- Average Hourly S&B Rates for Full-Time Employees
“How the branch is being utilized by account holders has gradually changed over the past couple of decades,” added Scott. “With transactions dropping and staffing levels remaining the same, the inevitable outcome is costly improper staffing in the branch environment. It is imperative for financial institutions to rein in their labor costs, if they want to remain a viable player in the industry.”
For info: www.fmsi.com