Bank brokerage program managers in the largest banks make around 33% more than the average compensation for bank brokerage managers, a new survey finds.[@@]
Program managers in institutions with $15 billion or more in retail deposits averaged $388,125 in total annual compensation in 2005, according to the study by the Bank Insurance Market Research Group, well up from the $342,857 average found in BIMRG’s 2003 study.
By contrast, program managers’ compensation in all institutions (large and small) last year was $228,030.
BIMRG’s 2005 Bank Brokerage and Insurance Compensation Study surveyed 34 banks with active brokerage programs between March and July. BIMRG conducts the survey every other year.
Among other highlights: