Over 30 firms participate in McLagan’s annual Consumer Banking Survey. These include the top ten largest U.S. and international banks.
Our industry focus, ongoing client work, and proprietary study data allow us to frame each consulting project within a broad business context. While the scope of our consulting work varies, we are skilled at working with consumer banking firms to:
- Benchmark competitive pay levels, practices, and related human resource issues
- Design annual long-term and sales incentive plans
- Assess pay, performance, and sales effectiveness
Our consumer and retail business is global in scope, with offerings tailored to the needs of the U.S., Europe, Middle East, Africa, Asia and Latin America.
We provide firms with the following three primary types of consulting assistance. Examples of recent projects follow:
- Custom analysis of retail bank pay levels based on branch deposits and number of branches managed
Incentive Plan Design
- Helped in the design of the retail bank incentive compensation program for a large regional bank. The plan design included management, sales, and teller compensation structures
- Assisted a major U.S. consumer finance subsidiary with the design of a change in control agreement
- Assisted several U.S. regional banks with a comprehensive risk assessment of incentive plans and advised on plan design changes
- Reviewed and developed alternative salary structures for a major regional bank
McLagan’s annual performance benchmarking studies help our clients better understand and reinforce the linkage between firm and/or individual performance and reward.
- Production data is collected across traditional branch delivery roles including division heads, regional managers, market Managers, branch managers, platform sales and small business relationship mangers / BDOs.
- Compensation levels and spend, productivity, pay versus performance, span of control, and geographic analyses are provided.
- Data is utilized from the standard Consumer Retail & Small Business Survey (CRU) data collection, therefore no additional data collection is needed.
- There are 59,000 incumbents with productivity elements such as loan volume ($ and units), branch deposits, deposit production, deposit accounts, number of branches managed, geographic differentials and more.