2023 Crowe Bank Compensation and Benefits Survey Highlights

The document is a report summarizing the findings of the 2023 Crowe Bank Compensation and Benefits Survey, which included contributions from 388 financial services organizations. The survey results provide detailed salary information and benchmarks across 272 job positions, highlighting trends in employee benefits, incentives, and compensation practices. Key findings indicate a growing acceptance of remote work, with 70% of banks allowing some form of remote work, marking a significant increase from the previous year. The report also addresses challenges in retaining younger talent, with 64.9% of respondents identifying this as increasingly difficult. Additionally, human resources management issues are discussed, emphasizing the importance of hiring and retaining the right people. Trends in diversity, equity, and inclusion initiatives are examined, revealing that while some banks are making strides, a majority have not yet acted. The report concludes by discussing employee performance and pay increases, noting a normalization of salary raises within the financial services industry.