Jack Clark, of Jack Clark Associates, outlines findings from NAFCU's exec compensation study
MONTREAL, Quebec—What are the performance metrics driving the bulk of top CU executives’ bonus plans this year?
Loan growth (66%), ROA (56%) and membership growth (49%), according to the 2015 NAFCU Executive Compensation and Benefits Survey released at the trade association’s annual meeting here.
The survey, commissioned by Burns-Fazzi, Brock, reached out to 6,276 state and federal credit unions, of which 519 responded.
The study shows that 22% of top executives have a structured plan for a bonus, 30% get a bonus but have no plan, and 48% receive no bonus.
Looking at 2015 total compensation (base salary and bonus), at CUs with assets from $20 to $40 million, top executives in the tenth percentile receive $63,275, while those in the 90th percentile are paid $117,810.
For shops from $40 million to $75 million, executives in the tenth percentile receive total compensation of $75,000, while those in the 90th percentile are paid $157,000.
CUs from $75 million to $150 million pay execs in the tenth percentile $108,212 and $197,340 for leaders in 90th percentile.
At CUs with assets from $150 to $400 million, executives in the tenth percentile receive $157,753, and those in the 90th percentile are paid $306,800.
Execs in the tenth percentile at CUs from $400 million to $1 billion earn $249,999, and leaders in the 90th percentile are paid $502,644.
Above $1 billion, executives in the tenth percentile net $404,725, while those in the 90th percentile receive $846,600.
Clark Research Associates, Charlotte, N.C., conducted the survey.