MADISON, Wis./WASHINGTON–The average anticipated 2019 salary bumps in credit unions with assets of $1 million or more for management and non-management positions will be 3% and 2.7%, respectively, according to the 2018-2019 CUNA Staff Salary Report, which is now available.
The 2018-2019 CUNA Staff Salary Report contains compensation data for 90 positions, plus 10 part-time positions, enabling users to calculate the ideal compensation packages for nearly every employee, including the CEO. Data in the report is broken down into categories such as base salaries, incentives, bonuses, and total cash compensation
“Offering a competitive salary is more important now than it’s ever been,” said James Carrick, VP of learning events at CUNA. “If you want a talented pool of employees who are going to not only enhance your credit union, but stay engaged in their role, you need to be providing them with the right compensation. The content of this report is going to show you, statistically, what that competitive number is going to be.”
Among the findings in the report:
- As might be expected, average anticipated 2019 salary increases for management and non‐management vary among credit unions in different asset‐size groups, and reach their highest levels among those with assets of $100 million to $3 billion.
- All told, 71% of credit unions with assets of $1 million or more provided some sort of variable pay—bonuses and/or incentives—to at least some of their full‐time employees by year‐end 2017. The figure exceeds 90% in credit unions with $100 million to $3 billion in assets.
- Bonuses continue to be somewhat more prevalent than incentives for both management and non‐management personnel.
CUNA said data analysis is made simple with visual aids including detailed tables and graphs. To further streamline the process with a fast, intuitive search tool, CUNA encourages the use of the report with CUNA Compensation Analytics, also available now.
For info: cuna.org/compensation.