BRENTWOOD, TENN., June 5, 2018 – Seventy-seven percent of the directors, chief executive officers and senior executives responding to Bank Director’s 2018 Compensation Survey have at least one female director—up from two-thirds one year ago. The annual survey is sponsored by Compensation Advisors, a member of Meyer-Chatfield Group.
However, in a reflection of the broader corporate landscape, bank boards still have a lot of progress to make when it comes to representing diverse backgrounds. Just 14 percent of survey participants indicate that their board has three or more female members, and given the median size of a bank board, at 10 members, one female director isn’t an adequate representation of gender diversity. Further, boards still struggle to represent diverse ethnic backgrounds—77 percent report that their board doesn’t have a single ethnically diverse member—as well as viewpoints from younger generations, with just 16 percent reporting they have at least one director aged 40 years old or younger.
The 2018 Compensation Survey was conducted in March and April 2018, and surveyed more than 200 chief executive officers, human resources officers, senior executives and board members of both public and privately held U.S. banks to examine the talent challenges faced by the banking industry. The survey also incorporates data collected from proxy statements to reveal how—and how much—CEOs, directors and chairmen were compensated in fiscal year 2017.
Additional findings include:
About Bank Director
Since 1991, Bank Director has served as a leading information resource for the directors and officers of financial institutions. Through Bank Director magazine, its executive-level research, annual conferences and website, BankDirector.com, Bank Director reaches the leaders of the institutions that comprise America’s banking industry. Bank Director is headquartered in Brentwood, Tennessee.
About Compensation Advisors
Compensation Advisors, a member of Meyer-Chatfield Group, has served the community banking industry providing guidance on the latest compensation and hiring developments. As benefit experts they convey insightful strategies and solutions to help retain, recruit and reward critical talent at all levels. Simply put, they find solutions others miss. Compensation Advisors works with financial institutions across the United States delivering: Executive and Director Compensation Reviews, Pay-for-Performance Incentive Plan Structures, Equity Allocation Plans, Benefit Plan Designs, Base Salary Reviews (company-wide), Risk Assessments, Regulatory Updates and Compensation Committee Governance. Visit the website at www.compensationadvisors.com.
Contact: Michelle King, chief marketing officer, (615) 777-8465, firstname.lastname@example.org
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