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Retail Banking Incentive Plans

Learn more about how our team can help you with designing your retail banking incentive plans by clicking the infographic below:

Consumer Banking

We cover clients engaged in providing products and services to consumers and small businesses through brand, internet, phone, and wholesale and broker channels. Our team has established a consistent methodology that includes coverage of business across sectors, including mortgage banking, retail banking, and credit cards.

Global Coverage, Local Expertise

Our teams have established a consistent methodology adaptable across organizational structures, so we are able to provide a granular perspective on niche business areas and roles while bringing a global scale to our solutions for clients.

We work with firms of all sizes, bringing local expertise to our clients and the ability to navigate the nuances of consumer banking markets across the world. We cover business lines including brand banking, consumer lending, credit cards, digital and online banking, mortgage banking, premier banking, small business banking, and merchant services.


300+
Participating
Organizations


1 Million
Incumbents with
Reported Results


19
Countries with
Reported Results


250+
Roles with
Reported Results

Across each of the consumer banking sectors we cover key compensation elements of incumbent total rewards package with relevant scoping factors, which could include geographic region, firm size, and production volume depending on the sector.

Consumer, Retail, and Small Business Compensation Intelligence

Over 60 firms participate in our annual consumer banking compensation surveys, including the top ten of the largest U.S. and international banks. We provide in-depth coverage of pay and performance trends within specific business lines, including:

  • Executive Management
  • Branch Network
  • Branch Sales
  • Call Center
  • Customer Service

We work with firms to benchmark competitive pay levels and practices, design annual long-term and sales incentive plans, and assess pay, performance, and sales effectiveness. To help our clients understand the latest in market trends, we run a variety of market practice studies. To learn more about McLagan Market Practice Studies, please click here.

Credit Cards and Merchant Acquirer Services Compensation Insights

In the U.S., we exclusively cover and focus on three main business areas in the credit cards industry: financial institutions, merchant acquirer, and transaction management. Our three distinct survey products include:

  • Consumer Credit Cards: More than half of our participants are among the largest credit card issuers globally.
  • Commercial Credit Cards: We cover executives through entry-level positions and focus on sales and relationship management roles. The commercial card compensation survey has grown to include many of the leading U.S. commercial card issuers.
  • Merchant and Acquirer Services: First sponsored in 2008, this survey program covers the merchant acquirer services business and is designed to provide detailed market data regarding competitive pay for a full range of functions and incentive plan design pay practices for the sales function. The program is designed for banks, independent merchant and acquirer service firms, and independent sales organizations. We work with over 20 of the largest firms in the niche industry. To view a list of past participants, please click here.

Our compensation surveys collect key compensation data elements by function, specialization, and business and product group, including:

  • Decision Science
  • Executive Management
  • Information Technology
  • Marketing
  • Risk Operations
  • Sales and Business Development

Mortgage Banking Compensation Data

We run an annual compensation survey providing key data on professionals across the major functions and areas within the mortgage banking industry, which in the U.S. is sponsored by the Mortgage Bankers Association (MBA).

We collect data on a granular incumbent level basis on over 200 positions across all lines of business and functional areas, with key compensation elements and scoping factors. The business lines that we cover include:

  • Call Center
  • Executive Management
  • Mortgage Servicing
  • Operations
  • Sales Management
  • Secondary Marketing
  • Underwriting

To learn more about our partnership with MBA in the U.S. and performance solutions for Mortgage Banking Firms, please click here.

Moving Beyond Pay: Market Intelligence and Insights

Beyond compensation surveys, McLagan offers a broad range of Market Practice Studies throughout the year. These studies provide clients with the deep industry knowledge and insights needed to maintain competitive position, drive organizational change, execute long-term business strategies and drive results. Some of our Market Practice Studies specific to consumer banking include:

  • Call Center Incentive Plan & Staffing Study
  • Mortgage Banking Incentive Plan Study
  • Mortgage Banking Sales Effectiveness (Pay & Productivity)
  • Pan-European Retail Banking Variable Pay Study
  • Retail Branch Optimization
  • Retail Branch Incentive Plan & Trends Study

To learn more about McLagan Market Practice Studies, click here.

Survey Pricing, Access, and Support

Fees for McLagan compensation surveys vary based on size of firm.

Survey purchases include 24/7 access to the McLagan Online client portal. This puts survey results and insights in reach at all times.

All survey clients are assigned a dedicated Relationship Manager to provide benchmarking support during the survey input, position and employee level analysis, and access to webinars and roundtables where clients receive the latest in hot topics in the market and networking opportunities with industry peers. We provide a variety of rewards and compensation advisory solutions to assist clients with their compensation, performance, and talent strategies.