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The objective of this Club Survey is to help the financial sector design their HR plans by optimizing the management of its compensation strategy, and ensuring external competitiveness and internal equity.
- Better understanding of the responsibilities for each job presented in an industry catalogue.
- Competitive evaluation for every item in the total remuneration package, in relation to the banking industry.
- Salary increase information based on market practices.
- Ability to compare against market (banking industry) or against a specific segment.
- HR focus on value added activities, such as strategic planning, with less time spent on salary and benefits administrative tasks.
- Access to reliable and up to date market data, including long term incentives analysis and benefits quantification.
- Access to ad-hoc reports and statistics specific to your needs.
- Access to market information at any time and place through an online tool.
Mercer presents this survey’s results using two different approaches:
- Traditional: comparison done by identifying the banking industry equivalent in Mercer’s job catalogue.
- Job pre-evaluation: all positions are analyzed using a system, which delimitates the job responsibilities in relation to the job titles (Mercer system IPEv3.1)
Mercer´s methodology analyzes the total remuneration in six levels:
- Base salary = Base salary multiplied by 12
- Base annual salary= Base salary + Christmas bonus (multiplied by 13)
- Total guaranteed cash compensation = Base salary plus guaranteed allowances
- Total cash compensation = Total guaranteed cash compensation plus short-term incentive, sales incentive, profit sharing or other incentive awards
- Total direct compensation = Total cash compensation plus long-term incentive awards, valued using Black-Scholes methodology for appreciation-based awards
- Total remuneration = Total direct compensation plus benefits and perquisites.
The catalogue includes approximately 600 positions from all levels (from Analysts to CEOs) in different areas of the company.
- Asset management
- Investment banking
- Wholesale banking
- Retail banking
- Call center
- Corporate finance
- Personal banking
- Middle market
- Strategic planning
- Private banking
- Credit and risk
Results are delivered via Mercer WIN®, an interactive tool that allows access to the Club survey results and enables you to:
- Process the total sample of companies and one defined sample by company
- Generate unlimited ad-hoc reports (by job title, compensation level, etc.)
- Organize job groupings for better reporting
- Export results to Excel
- Update data by index, both your company’s and the market’s data
Deadline to participate: April 2022
Effective date for data: May 2022
Survey results: August/September 2022
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Inés García Toscano
+54 11 5671 3610
Elizabeth Manzour Gamboa