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2020 Northeast BankingCompensation SurveyThe Northeast Banking Compensation Survey can help youattract and retain top talent.
Pearl Meyer’s Northeast Banking Compensation SurveyThe Northeast Banking Compensation Survey, was created exclusively for banks in Maine, New Hampshire,Massachusetts, Rhode Island, New York, Connecticut and Vermont who were looking for the most up-to-dateand accurate compensation data for this specific region. The report provides you with the most relevantbenchmarking data to ensure your compensation mix is competitive enough to attract and retain the best talent.COMPREHENSIVECREDIBLE 279 Positions 34,500 Employees Exclusive Insight intoPeer Policies & Practices 187 Institutions 258M – 10B in assets Rigorous qualityassurance processCUSTOMIZEDCOST-EFFECTIVE Dedicated accountmanager Online tools for easy datasubmission and analysis Free Participation Participants save over50% off the survey The Northeast Banking Compensation Survey provides you with a best-in-class compensation information solution, offering you a rare combination of accuracy and affordability. All elements of the employee pay package arecollected and reported giving you the information needed to analyze your competitive position andcompensation mix from a total compensation perspective.Survey results validate your compensation strategy and enable you to: Analyze compensation trends by asset size. Understand what incentives are becoming more widespread. Isolate key pieces of data based on your unique needs.Questions? Call 508-460-9600 and ask for a survey team member.2
COMPREHENSIVEYou will be assigned a dedicated account manager to walk you through the survey submission process, makingit easy to integrate and match your information to our database.Our account managers have several years of survey experience, ensuring you receive the highest quality ofguidance and confidentiality.Exclusive InsightThe only inclusive source of insight into what your peers are doing: Short- and long-term incentive plan design Starting hourly rates for Personal Bankers, Universal Bankers, & Tellers Floating Teller pay practices Bank & Teller Turnover rates Salary Structure adjustment budgets Merit increase budgets Mortgage Originator average loan production & compensation Commercial Loan Officer average loan production & portfolio sizePolicies and PracticesQuestions? Call 508-460-9600 and ask for a survey team member.3
Access to Detailed Data187ParticipatingInstitutions279PositionsKey Data Reported: Base Salary Short-Term Incentives Long-Term Incentives Total Cash/Target/DirectCompensation Mortgage OriginatorCompensation Commercial Loan OfficerCompensation34,500EmployeesQuestions? Call 508-460-9600 and ask for a survey team member.4
Job PositionsExecutive ManagementChief Executive OfficerChief Operating OfficerChief Credit OfficerChief Financial OfficerChief Revenue OfficerChief Banking OfficerTop Regional Banking ExecutiveTop Marketing OfficerChief Administrative OfficerGeneral CounselChief Risk OfficerTop Human Resources OfficerTop Audit OfficerChief Information Systems OfficerStaff / AdministrationAdministrative OfficerAssistant to PresidentCorporate SecretaryExecutive SecretaryAdministrative Assistant/SeniorAdministrative AssistantRecruiting ManagerGeneral ClerkSwitchboard Operator/ReceptionistHuman Resources ManagerHuman Resources GeneralistRecruiterHuman Resources AssistantHRIS AdministratorBenefits ManagerBenefits SpecialistPayroll ManagerPayroll Specialist/ClerkTraining OfficerTraining SpecialistMarketing ManagerProduct ManagerDigital Channels Product ManagerMarket ResearcherData Analyst/SpecialistMarketing Specialist/CoordinatorPurchasing ManagerPurchasing Assistant/ClerkFacilities ManagerFacilities SupervisorFacilities Assistant/CustodianRisk ManagerRisk AnalystCompliance OfficerCompliance SpecialistCRA OfficerManagement TraineeQuality Control SpecialistBank Secrecy Act (BSA) OfficerBank Secrecy Act (BSA) AnalystEmployee Relations ManagerEmployee Relations SpecialistHRIS ManagerCompensation Director/ManagerSr. Compensation AnalystCompensation AnalystSocial Media SpecialistProgram/Project ManagementHead of FacilitiesQuestions? Call 508-460-9600 and ask for a survey team member.Investment / Wealth ManagementTop Wealth Management ExecutivePersonal Investment Sales Officer(commissioned)Personal Investment Sales Officer(non-commissioned)Private Banking OfficerFinancial PlannerPortfolio ManagerFinanceTop Bank Investment ExecutiveBank Investment Portfolio ManagerTreasurerTreasury Operations ManagerFinance ManagerTax ManagerSr. Financial AnalystFinancial AnalystControllerAssistant ControllerAccounting ManagerAccounting SupervisorStaff AccountantAccounting/Bookkeeping Clerk IIAccounting/Bookkeeping Clerk IBookkeeping GeneralistAuditAudit ManagerStaff AuditorAudit Assistant5
Job Positions (continued)Business BankingTop Business Banking OfficerBusiness Banking BusinessDevelopment OfficerBusiness Banking OfficerCommunity Relations OfficerSBA Loan ManagerSBA Loan OfficerSBA Loan Processor I/CloserSBA Loan Processor II/CloserSBA Credit AnalystSBA UnderwriterTrustTop Trust ExecutiveSr. Trust OfficerTrust OfficerTrust Operations ManagerTrust New Business OfficerTrust AdministratorTrust Department AssistantOperationsSr. Operations Officer/ManagerHead of Cash ManagementOperations/Services Manager –CentralizedGroup Operations ManagerOperations OfficerSecurity OfficerFraud SpecialistCash Management OfficerCash Management Officer/ManagerCash Management RepresentativeRetirement Plans ManagerIRA SpecialistRetirement Plans Coordinator/ClerkElectronic Banking OfficerElectronic Banking SpecialistATM SupervisorATM Coordinator/ClerkOperations SupervisorUtility RepresentativeSr. Operations ClerkOperations CoordinatorDocument Image CoordinatorImage ProcessorProof OperatorWire Transfer ClerkMail Clerk/CourierCourierRetailTop Retail Banking Officer/ManagerSr. Branch AdministratorRegional Branch ManagerUniversal Banker – 4 LevelsSenior Teller/Customer ServiceRepresentativePersonal BankerSenior Personal BankerRetail Sales ManagerTop eCommerceBranch Manager/RetailBranch Manager (Lending/Bus. Dev’t)– 3 LevelsBranch Manager (Non-Lending/Bus.Dev’t) – 3 LevelsHigh School Branch ManagerAssistant Branch ManagerSenior Vault TellerVault TellerHead TellerQuestions? Call 508-460-9600 and ask for a survey team member.Senior TellerTeller – StandardTeller/Customer ServiceRepresentativeSenior Teller/Premium Pay (nobenefits)Teller/Premium Pay (no benefits)Retail Manager/Customer ServiceMngr – 3 LevelsDeposit Relationship ManagerDeposit Relationship OfficerOperations Officer/Supervisor – 3LevelsCustomer Service Representative/BranchCustomer Service Representative IICustomer Service Representative IAssistant Operations Officer/SupervisorCall Center ManagerCall Center SpecialistCall Center CSRSupermarket Banking ManagerSupermarket Banking SalesRepresentativeSafe Deposit AttendantLendingChief Loan OfficerLending Sales Manager (BusinessDevelopment/Non-commissioned)Business Development OfficerTop Residential Mortgage LendingExecutiveResidential Mortgage Loan Officer(non-commissioned) – 2 levelsMortgage Loan Officer (commissioned)Mortgage Loan Originator (in house/non-commissioned)6
Job Positions (continued)Lending (cont’d)Mortgage Operations ManagerMortgage Underwriter/ProcessorMortgage Loan ProcessorMortgage Closing CoordinatorSr. Underwriter (residential lending)Sr. Underwriter (commercial/industriallending)Sr. Underwriter (commercial real estatelending)Sr. Underwriter DefaultUnderwriter (residential lending)Underwriter (commercial/industriallending)Underwriter (commercial real estatelending)Underwriter DefaultSecondary Market OfficerSecondary Market Specialist/CoordinatorInvestor Reporting SpecialistIndirect Lending OfficerTrade Finance ManagerTrade Finance AssistantTop Consumer Lending ExecutiveSr. Consumer Loan OfficerConsumer Loan OfficerConsumer Loan Administrator/ProcessorTop Commercial Lending ExecutiveGroup/Region Commercial TeamLeaderSr. Commercial Loan Officer(commercial/industrial)Sr. Commercial Loan Officer(commercial real estate)Sr. Commercial Loan Officer DefaultCommercial Loan Officer (commercial/industrial)Commercial Loan Officer (commercialreal estate)Commercial Loan Officer DefaultJr. Commercial Loan Officer(commercial/industrial)Jr. Commercial Loan Officer(commercial real estate)Jr. Commercial Loan Officer DefaultSr. Commercial Credit AnalystCommercial Credit AnalystCommercial/Construction Loan OfficerCommercial Loan AdministratorLoan ProcessorSenior Loan ProcessorNote/Loan Service DepartmentManagerNote/Loan Documentation Officer/SupervisorNote/Documentation SpecialistNote/Loan Servicing ClerkJr. Commercial Credit AnalystJr. Mortgage/Consumer Credit AnalystSr. Commercial Loan ProcessorCommercial Underwriting ManagerCommercial Loan ProcessorCommercial Loan ServicerCredit OfficerLeasing General ManagerLeasing and Business Finance OfficerSr. Credit AnalystMortgage/Consumer Credit AnalystCredit Operations SpecialistCredit Operations ManagerCommercial Loan Portfolio ManagerLoan Review OfficerLoan Review AdministratorLoan Servicing OfficerQuestions? Call 508-460-9600 and ask for a survey team member.Loan Servicing SupervisorLoan Servicing ClerkLoan ClerkCollections Officer/ManagerCollector – 2 LevelsSpecial Assets ManagerSpecial Assets OfficerStaff AppraiserLending GeneralistTop Asset-based LendingAppraisal ManagerCollateral Valuation SpecialistTechnologyMIS ManagerSystems OfficerIT ManagerInformation Security AdministrationApplications Programmer/AnalystDatabase AnalystTechnical Program/ProjectManagementCore System ManagerSenior Technology GeneralistTechnology GeneralistData Security OfficerNetwork ManagerNetwork SpecialistSystems AnalystInformation Technology ComplianceAnalystBusiness Systems AnalystOnline/Mobile Banking ManagerDigital Marketing ManagerHelp Desk CoordinatorComputer Operator7
CREDIBLEParticipant Demographics by Asset SizeWho Participates?36%43%Up to 500M 500M up to 1.1BOver 1.1BJoin 187 institutions who rely onour in-depth data to makecritical compensation decisions.Our participants represent bothmutual and private banks andcredit unions across Maine,New Hampshire, Vermont,Rhode Island, Massachusetts,Connecticut, and New York.21%18 out of 187 participantshave assets under 1.1 billion.Questions? Call 508-460-9600 and ask for a survey team member.8
2019 List of Participants (alphabetical order)Abingdon BankAdams Community BankAlden State BankAndroscoggin Savings BankAroostook County Federal Savings &Loan AssociationArrow Financial CorporationAthol Savings BankAuburn Savings Bank, FSBAvidia BankBangor Savings BankBank of AkronBank of CattaraugusBank of New HampshireBank of RichmondvilleBankFiveBankGlousterBar Harbor Bank & TrustBath Savings InstitutionBayCoast BankBridgewater Savings BankBristol County Savings BankBrookline BankCambridge Savings BankCamden National CorporationCanadaigua National Bank & TrustCarthage Federal Savings and LoanAssociationCentreville Savings BankCentury Bancorp, Inc.ChelseaGroton BankClaremont Savings BankClinton Savings BankCollinsville Savings SocietyColonial Federal Savings BankColumbia BankCommunity Bank, N.A. (NY)Community National BankConnecticut Community Bank, N.A.Connecticut Mutual HoldingCompanyCorning Federal Credit UnionCountry Bank (MA)Country Bank NYDedham Institution for SavingsDigital Federal Credit UnionDime BankDime Community BankEagle BankEast Boston Savings BankEast Cambridge Savings BankEastern BankEasthamptom Savings BankEmpire State BankEnvision BankESL Federal Credit UnionEssex Savings BankEvans National BankFairfield County BankFairpoint Savings BankFidelity Bank (MA)Fieldpoint Private Bank and TrustFirst Bank New JerseyFirst County BankFirst National Bank of Long IslandFlorence Savings BankFranklin Savings Bank (ME)Questions? Call 508-460-9600 and ask for a survey team member.Franklin Savings Bank (NH)Freedom National BankGensee Regional BankGorham Savings BankGreenfield Cooperative BankGreenfield Savings BankGreylock Federal Credit UnionHaverhill BankHometown BankInstitution for Savings inNewburyportIon BankJeff BankJewett City Savings BankKatahdin Trust CompanyKearny BankLeydard National BankLee BankLeominster Credit UnionLiberty BankLitchfield BancorpLowell FiveMachias Savings BankMain Street BankMansfield BankMarblehead BankMartha’s Vineyard Savings BankMascoma Savings BankMassachusetts Growth CapitalCorporationMechanics Cooperative Bank (MA)Melrose Co-operative BankMetropolitan Commercial BankMiddlesex Savings Bank9
2019 List of Participants (continued)Milford Federal Credit UnionMonson Savings BankNational Bank of MiddleburyNational Grand Bank of MarbleheadNational Iron BankNaveo Credit UnionNavigant Credit UnionNew England Federal UnionNew Hampshire Mutual BancorpNew York Business DevelopmentCorporationNew York Community Bancorp, Inc.Newtown Savings BankNorth Brookfield Savings BankNorth Easton Savings BankNorth Shore BankNorthern BankNorthfield Savings BankNorthmark BankNorthwest Community BankNorway Savings BankOrange County Trust CompanyPassumpsic Savings BankPathfinder BankPawtucket Credit UnionPentucket BankPeoples Trust CompanyPeoplesBankPiscataqua Savings BankQuotonic BankRadius BankReading Co-operative BankRhineback BankRollstone Bank & TrustRTN Federal Credit UnionSaco & Biddeford SavingsInstitutionSalem FiveSalisbury Bank and Trust CompanySanford Institution for SavingsSavers BankSavings Bank Mutual Life InsurnceCompany of MA (SBLI)Savings Bank of DanburySeamens BankSharon Credit UnionSkowhegan Savings BankSolvay BankSouth Shore BankSt. Mary’s Credit UnionStafford Savings BankThe Adirondack Trust CompanyThe Bank of BenningtonThe Bank of CantonThe Cape Cod Five Cents SavingsBankThe Cooperative Bank of Cape CodThe Delaware National Bank ofDelhiThe First Bank of GreenwichThe First, N.A.The Guilford Savings BankThe Lyons National BankThe Milford BankThe Pittsfield Cooperative BankThe Provident BankThe Savings BankThe Village BankThe Washington Trust CompanyThomaston Savings BankTioga State BankTorrington Savings BankTremont Credit UnionUlster Savings BankUniBankUnion BankUnion Savings BankUnited Nations Federal Credit UnionUSNY BankVisions Federal Credit UnionWalpole Co-operative BankWashington Savings BankWatertown Savings BankWebster First Federal Credit UnionWebster Five Cents Savings BankWesterly Community Credit UnionWestfield BankWinchester Co-operative BankWinchester Savings BankWinter Hill BankWoodsville Guaranty Savings BankIf you are a community bank or credit union we strongly encourage your participationto increase the depth of the survey data while providing you with key insights intocompensation trends in your region.Questions? Call 508-460-9600 and ask for a survey team member.10
CUSTOMIZEDLooking for a snapshot into the pay practices of your peers? Look no further than our comprehensive andobjective compensation report.Flexible Report FormatsSurvey results are easily downloaded from the Pearl Meyer survey client website and availablein PDF and Excel. Data in excel gives you the ability to isolate key data points and identifysalary trends.All of this provides you with the most accurate, affordable, reliable data that you can useto attract and retain your most important, and often most expensive, asset.Survey DatesData Effective Date: April 1, 2020Data Submission Due Date: May 22, 2020Survey Results Published: August 10, 2020Questions? Call 508-460-9600 and ask for a survey team member.11
Contact UsTo learn more about our Northeast Banking Compensation Survey or to participate, please contact the surveygroup at survey@pearlmeyer.com.You will be assigned a dedicated account manager who will be available to walk you through the surveysubmission process, making it easy to integrate and match your information with our database. Our accountmanagers have several years of survey experience, ensuring you the highest level of data quality and integrity.Your account manager will email you a link to the submission materials, your log-in credentials, and instructionson how to complete and return your survey data. To contact us by email: survey@pearlmeyer.com or jordan.gagnon@pearlmeyer.com To contact us by phone: ask for the survey group from our general number 508-460-9600 or call JordanGagnon, Banking Survey Operations Manager, at 508-630-1501Dedicated Team of Account ManagersRebecca TomanVice President, SurveyBusiness UnitDan BesserSurvey AccountManagerJordan GagnonSurvey AccountManagerAndrew GuignoSurvey ProjectManagerSarah MuyAssociate AccountManagerAlexis GriswoldAssociate AccountManagerTodd CarterAssociate AccountManagerMatt DunbarAssociate AccountManagerQuestions? Call 508-460-9600 and ask for a survey team member.12
Why Pearl Meyer Surveys?Our Commitment to QualityWe are committed to providing you the higheststandard of quality reporting. Our rigorous qualityassurance process includes: Review of quality assurance reports to help clarifyinput and identify discrepancies. Thorough cross check of data; comparison toprevious years’ data; and identification of dataoutliers.You May Also Be Interested InPearl Meyer has a suite of banking surveys inaddition to our Banking Benefits and HumanResources Policies Survey. State Reportsyy Californiayy Connecticutyy Floridayy Georgiayy New Yorkyy MassachusettsSecure Data Submission andConfidentialityThe survey is administered using an excel templatefor the collection of incumbent job data and a secureonline questionnaire for policies and practices data.Cyber security is a top priority for all banks, and youcan have peace of mind knowing that our securesystem ensures that your data will be uploaded intoa safe environment and remain confidential.Concerned about the confidentiality of your data andhow it’s shared in the survey results report?yy Virginia Regional reportsyy Northeast (MA, RI, CT, ME, VT, NH, and NY)yy Banks of the Carolinasyy South Atlantic (FL, GA, NC, SC, VA) National Report (U.S. Based) Banking Board of Director Survey Banking Benefits and Human ResourcesPolicies Survey All data is reported in summary form only. No data is reported for any job at any level wherethere are less than four institutions matching. No institutions data will represent more than a25% weighting for any job.Questions? Call 508-460-9600 and ask for a survey team member.13
About Pearl Meyer(www.pearlmeyer.com)Pearl Meyer is the leading advisor to boards and senior management on the alignment of compensation withorganizational and leadership strategies, making pay programs a powerful catalyst for value creation andcompetitive advantage. Our survey team provides organizations with accurate, on-point information supportingeffective business decisions. Pearl Meyer’s global clients stand at the forefront of their industries and rangefrom emerging high-growth, not-for-profit, and private companies to the Fortune 500 and FTSE 350. The firm hasoffices in New York, Atlanta, Boston, Charlotte, Chicago, Houston, London, Los Angeles, Raleigh, and San Jose.About Pearl Meyer’s Banking Compensation Consulting(www.pearlmeyer.com/banking)Pearl Meyer’s National Banking Team has in-depth and diverse experience, based on long-term clientrelationships. We understand the business, regulatory and talent challenges of the industry and the waysin which compensation can play a role.Our work starts by studying your institution’s business strategy, leadership approach, and ownership structure.We take the time to listen to your compensation objectives and desired outcomes. Risk mitigation, regulatorycompliance and governance are built into the design process. We use this process with the intent of developingcompensation plans that achieve results and create a competitive advantage for your business.Pearl Meyer’s Banking Survey Suite(www.pearlmeyer.com/banking-sal
Skowhegan Savings Bank Solvay Bank South Shore Bank St. Mary’s Credit Union Stafford Savings Bank The Adirondack Trust Company The Bank of Bennington The Bank of Canton The Cape Cod Five Cents Savings Bank The Coopera
