2022 Crowe bank compensation and benefits survey results

2022 Crowe bank compensation and benefits survey results

Tap into industry intelligence to optimize compensation, benefits, and incentives

The 2022 edition of the annual “Crowe Bank Compensation and Benefits Survey” provides invaluable compensation-focused benchmarking data. With responses from 429 banks, this year’s survey offers insights that can help you make critical decisions about compensation, human resources, and benefits, including:

  • Calibrating compensation structures using industry benchmarks
  • Structuring salary and incentive pay to support business strategy
  • Aligning board of director compensation to the industry
  • Identifying trends in human resources programs and turnover

Survey results are broken down by asset-size range and population of the headquarters city.

In the survey, 52% of respondents planned on allowing employees to work remotely in the future, while the other 48% indicated that they would not follow. Like most industries, the banking industry remains divided regarding remote work opportunities. Deciding whether to support remote work could dramatically affect recruiting and talent retention efforts, as recruits and current employees are increasingly seeking more flexible working environments.

Huge wage pressures introduced in 2021 and 2022 have clearly led banks to increase pay for their top performers, and our data indicates even average-level employee wages rose significantly. Pay increases at each performance level rose since 2021, most notably for top performers, who saw an average increase of 10%, up from 6%. Additionally, employees who met expectations had an average pay increase of 8%, up from 3% in 2021. Raises for employees performing below expectations lagged, with an average increase of just 2%, up from 1% in 2021. Clearly, the job market is skewed toward top performers as banks seek to retain top talent.

We are pleased to offer multiple geographic versions of the survey results for more targeted comparisons. The availability of regional and state versions depends on the number of survey responses received from a specific region or state.

Purchase your copy

Your purchase includes one of the types of reports shown in the pricing box, a summary highlighting survey trends, and supporting data (via spreadsheet file) with corresponding salary benchmarks. 

Contact us

For questions or to purchase compensation reports from previous years, email [email protected] Please indicate which year you are interested in.
Thomas Grottke
Thomas W. Grottke
Managing Director, Financial Services Consulting
Stephanie White
Stephanie White
Dana Lori
Dana Lori