The banking industry seems to be doing well based on a variety of measures — profitability is high, credit quality is much improved and tangible capital ratios are stronger than ever. However, such financial measures don’t necessarily reflect the challenges facing many institutions to attract, compensate and retain standout executives and talented board members. So, in advance of Bank Director’s 12th annual Bank Executive & Board Compensation Conference (held October 25 + 26 at the Ritz-Carlton Amelia Island), I thought to share this snapshot on what a bank pays, on average, to its board members.
This information comes from our 2016 Compensation Survey, sponsored by Compensation Advisors, a member of Meyer-Chatfield Group. This annual research report, now available for free on BankDirector.com, examines trends in executive and board compensation, including the compensation related issues faced by boards and senior executives.
This survey tracks salary data for CEOs, chairmen and independent directors & was completed online by 262 directors, chief executive officers, human resources officers and other senior executives from U.S. banks in March 2016. Supplemental data on CEO and board compensation came from the proxy statements of 105 publicly traded institutions for fiscal year 2015.