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pdfFinancial Institutions Reform, Recovery and
Enforcement Act (FIRREA)
Compensation Survey
Custom Survey Report
2019
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2019 Financial Institutions Reform, Recovery and Enforcement Act
(FIRREA) Compensation Survey – Custom Survey Report
Table of Contents
Supporting Documentation .....................................................................................
Contact Us ............................................................................................................
7
7
7
Survey Methodology............................................................................................
9
Overview of Survey Participants ......................................................................
Organizational Data ...............................................................................................
Participant List .......................................................................................................
11
12
14
FIRREA Responses..............................................................................................
15
Guide to Using the Compensation Data in this Report ..............................
Locating Compensation Data in this Report .............................................................
Suggestions for Using the Data in this Report ..........................................................
Updating Survey Data ............................................................................................
Calculating a Salary Range Minimum and Maximum ................................................
19
20
21
22
23
Explanation of Data Presentation Terms .......................................................
25
Position Descriptions ..........................................................................................
29
30
33
Introduction............................................................................................................
Position Listing ......................................................................................................
Position Descriptions..............................................................................................
Policies and Practices.........................................................................................
Salary Increase Budgets and Range Increases ........................................................
Pay Differentiation and Determination .....................................................................
Promotional Increases............................................................................................
Locality Pay/Geographic Differentials Methodology ..................................................
Bonuses and Other Variable Pay Programs .............................................................
Turnover ...............................................................................................................
Relocation .............................................................................................................
Recruitment and Retention .....................................................................................
Work/Life Policies ..................................................................................................
Compensation Planning .........................................................................................
Gender Pay Equity .................................................................................................
Internal Equity .......................................................................................................
Compensation Philosophy ......................................................................................
Willis Towers Watson Data Services
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48
54
58
59
61
64
65
66
70
74
75
76
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2019 Financial Institutions Reform, Recovery and Enforcement Act
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Table of Contents
Position Comparison Tables ..............................................................................
81
Pos.
Code
0820
0821
0822
0823
0824
0825
0826
Executive Positions
Chief Human Capital Officer ..............................................................................
General Counsel...............................................................................................
Chief Financial Officer .......................................................................................
Chief Information Officer/Chief Technology Officer ..............................................
Chief of Staff ....................................................................................................
Core Division Head ...........................................................................................
Head of the Office of the Secretary ....................................................................
82
86
90
94
98
102
106
0678
0679
0680
0681
0682
Economist Positions
Supervisory Economist (Section Chief)...............................................................
Senior Economist .............................................................................................
Economist II .....................................................................................................
Economist I ......................................................................................................
Research Assistant ...........................................................................................
110
117
123
135
141
0683
0684
0685
0686
0811
0687
0688
0801
0689
0819
Legal Positions
Assistant/Deputy General Counsel.....................................................................
Supervisory Senior Counsel ..............................................................................
Senior Attorney.................................................................................................
Attorney (Full Performance Level) ......................................................................
Attorney (Mid-Level) .........................................................................................
Attorney (Entry Level) .......................................................................................
Senior Paralegal ...............................................................................................
Paralegal .........................................................................................................
Legal Secretary/Technician ...............................................................................
Criminal Investigator (LEAP) .............................................................................
146
150
163
179
193
197
202
213
216
223
0731
0732
0733
0802
0803
0804
0734
0805
0735
0806
0736
0738
0814
Information Technology Positions
Supervisory IT Specialist ...................................................................................
Supervisory IT Project Manager .........................................................................
IT Project Manager ...........................................................................................
IT Specialist III (Full Performance) ....................................................................
IT Specialist II (Mid-Level) ................................................................................
IT Specialist I (Entry Level) ...............................................................................
Senior IT/Systems Security Analyst....................................................................
IT/Systems Security Analyst ..............................................................................
Senior Database Administrator ..........................................................................
Database Administrator .....................................................................................
Systems Engineer.............................................................................................
Senior Software Engineer..................................................................................
Business Intelligence Analyst ............................................................................
227
236
240
245
261
265
269
274
280
284
288
292
296
0807
0740
0808
0741
0742
0743
0744
0745
Finance Positions
Senior Financial Systems Analyst ......................................................................
Financial Systems Analyst .................................................................................
Senior Auditor ..................................................................................................
Auditor .............................................................................................................
Accountant (Financial Practices) ........................................................................
Senior Financial Analyst ....................................................................................
Financial Analyst II............................................................................................
Financial Analyst I.............................................................................................
300
304
308
312
316
320
325
335
Willis Towers Watson Data Services
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2019 Financial Institutions Reform, Recovery and Enforcement Act
(FIRREA) Compensation Survey – Custom Survey Report
Table of Contents
Position Comparison Tables (continued)
0746
0747
0748
0749
Finance Positions (continued)
Financial Accounting Manager ...........................................................................
Senior Accountant ............................................................................................
Accountant (Full Performance Level) .................................................................
Accounting Technician ......................................................................................
339
343
347
353
0751
0754
Procurement Positions
Procurement Manager ......................................................................................
Contract Specialist ............................................................................................
357
361
0756
0757
0759
0761
0762
0763
0764
0816
0767
0768
0769
0771
0812
0772
Examiner/Supervision Positions
Director (Examiner, Specialty Area) ...................................................................
Field Manager ..................................................................................................
Examiner V (Technical Expert Level) .................................................................
Examiner IV (Senior Level) ................................................................................
Examiner III (Full Performance Level/Commissioned Level).................................
Examiner II.......................................................................................................
Examiner I (Entry Level) ....................................................................................
Examiner Trainee .............................................................................................
Senior Examiner (Compliance) ..........................................................................
Examiner (Compliance) .....................................................................................
Capital Markets Specialist .................................................................................
Senior Policy Analyst ........................................................................................
RAD Director ....................................................................................................
Risk Specialist ..................................................................................................
367
383
406
434
468
510
546
560
568
584
594
604
610
615
0776
0779
Training Positions
Training Developer ...........................................................................................
Training Technician ..........................................................................................
626
630
0781
0827
0828
0782
0783
Human Resources Positions
Human Resources Director ...............................................................................
Supervisory Human Resources Specialist ..........................................................
Senior Human Resources Specialist ..................................................................
Human Resources Specialist .............................................................................
Human Resources Assistant..............................................................................
634
638
643
648
655
0784
0810
0785
0817
0813
0786
0787
0788
0791
0792
0793
Administrative Services Positions
Security Director ...............................................................................................
Security Specialist ............................................................................................
Librarian...........................................................................................................
Records Management (Mid-Level) ....................................................................
Public Affairs Specialist (Full Performance Level)................................................
Public Affairs Specialist .....................................................................................
Staff Assistant to an Executive...........................................................................
Senior Staff Assistant ........................................................................................
Staff Assistant ..................................................................................................
Clerk/Office Assistant ........................................................................................
Mail Clerk .........................................................................................................
660
664
668
672
676
682
686
690
701
715
722
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2019 Financial Institutions Reform, Recovery and Enforcement Act
(FIRREA) Compensation Survey - Custom Survey Report
Introduction
We’re pleased to present the results of the 2019 Financial Institutions Reform, Recovery and Enforcement
Act (FIRREA) Compensation Survey. The survey report focuses on cash compensation and direct
compensation data, including annual base salary, adjusted annual base salary, locality pay or geographic
differentials, target short-term incentives, short-term incentive/bonus, other cash compensation, total cash
compensation, and adjusted total cash compensation data. In addition, information on organization
characteristics, and a variety of policy and practices information are included.
The data contained in this reference is based on the response of 23 organizations. The organizations have a
median total full-time employment of 1,427 employees at their reported locations. Refer to the Overview of
Survey Participants section for more information including a complete list of this year’s survey participants.
This response enabled us to report on a total of 81 positions filled by a total of 19,707 employees.
The effective date is April 1, 2019.
Supporting Documentation
The following are individual sections of the PDF report. These sections include explanatory text and guidelines
for using this report.
·
·
·
·
Survey Methodology
Overview of Survey Participants
FIRREA Responses
Guide to Finding and Using the Compensation
Data in the Report
·
·
·
·
Explanation of Data Presentation Terms
Position Descriptions
Policies and Practices
Position Comparison Tables
Positions Not Published
Though surveyed, the following positions were not published due to their insufficient sample size.
·
·
Data Scientist
Criminal Investigator
Contact Us
If you have any questions or comments regarding this report or any of our other products, contact us at
+1 800 645 5771 or wtwusdata@willistowerswatson.com .
Willis Towers Watson Data Services
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Willis Towers Watson Data Services
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2019 Financial Institutions Reform, Recovery and Enforcement Act
FIRREA Compensation Survey- Custom Survey Report
Survey Methodology
In accordance with our objective to publish only the most accurate and representative information possible,
each questionnaire is thoroughly reviewed by compensation professionals and our proprietary data diagnostic
programs before it is included in the database. The data is further reviewed using statistical modeling
techniques, and survey respondents are contacted to confirm job matches, discuss high and low points of the
data, and clarify specific rate and policy questions.
The results of any survey are highly dependent upon the quality of the data provided by participants. We take
all appropriate measures to ensure that the input received from participants is accurate and complete. Our
survey project teams carefully review each individual data submission to resolve omissions, inconsistencies,
or other questionable input; they verify any questionable data directly with the participant.
Data input methodologies, data verification and proprietary data diagnostics programs are coupled with our
employees’ expertise and experience to resolve any anomalies, yielding a complete and accurate survey
data base. Our quality assurance process is followed in this and all phases of conducting surveys and
publishing survey results to ensure that all survey materials are reviewed by multiple employees.
Willis Towers Watson Data Services (WTWDS) publishes statistics only when a sufficient sample exists.
Salary and total compensation data will be published only when five or more organizations have provided
data for a given location or industry. All published statistics are consistent with recognized statistical
standards and principles. At the time of release, published data will be at least three months old from the
effective date of the data reported by survey respondents.
Data reported by individual companies will not represent more than 25% of averaged data statistics in the total
sample report. Customized reports do not employ dominance adjustment as the FIRREAS are not required to
use dominance adjusted survey data. Any information disseminated is aggregated so that individual company
data cannot be identified and WTWDS ensures and maintains the confidentiality of individual company data.
Under no circumstances will we disclose individual data.
Willis Towers Watson Data Services
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2019 Financial Institutions Reform, Recovery and Enforcement Act
(FIRREA) Compensation Survey - Custom Survey Report
Overview of Survey Participants
Willis Towers Watson Data Services
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2019 Financial Institutions Reform, Recovery and Enforcement Act
(FIRREA) Compensation Survey – Custom Survey Report
Overview of Survey Participants
Organizational Data
NUMBER OF EMPLOYEES
25th
Percentile
Median
75th
Percentile
Average
# of
Responses
Total Number of Employees
669.0
1,427.0
2,820.0
1,826.7
23
Exempt Employees
568.0
950.0
2,160.0
1,337.3
23
Nonexempt Employees
66.0
339.0
454.0
364.1
23
Executives
47.0
87.0
129.0
125.2
23
Entire Sample Combined
ORGANIZATION TYPE
Private
Sector
(excluding
Law,
Financial and
Education
Entire Sample Combined
0.0%
Financial
Federal
Reserve
Bank
Federal
Financial
Regulatory
Agency
8.7%%
39.1%
43.5%
Other Federal
Government
Agency
# of
Responses
Other
0.0%
8.7%
26
ORGANIZATION PROFIT STATUS
For-Profit
Not-For-Profit
# of
Responses
0.0%
100.0%
23
Entire Sample Combined
NUMBER OF EMPLOYEES - FINANCIAL
25th
Percentile
Median
75th
Percentile
Average
# of
Responses
Total Number of Employees
--
--
--
--
2
Exempt Employees
--
--
--
--
2
Nonexempt Employees
--
--
--
--
2
Executives
--
--
--
--
2
Entire Sample Combined
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2019 Financial Institutions Reform, Recovery and Enforcement Act
(FIRREA) Compensation Survey – Custom Survey Report
Overview of Survey Participants
Organizational Data (continued)
NUMBER OF EMPLOYEES - FEDERAL RESERVE BANK
25th
Percentile
Median
75th
Percentile
Average
# of
Responses
1,007.0
1,525.0
1,873.5
1,594.3
9
Exempt Employees
627.5
980.0
1,282.5
,1040.6
9
Nonexempt Employees
239.5
436.0
511.0
401.1
9
79.0
99.0
120.0
152.7
9
Entire Sample Combined
Total Number of Employees
Executives
NUMBER OF EMPLOYEES- FEDERAL FINANCIAL REGULATORY AGENCY
25th
Percentile
Median
75th
Percentile
Average
# of
Responses
Total Number of Employees
524.8
1,256.0
3,879.3
2,100.3
10
Exempt Employees
452.3
943.5
2,947.5
1.586.2
10
Nonexempt Employees
22.3
214.5
541.5
432.1
10
Executives
41.0
52.5
144.3
82.0
10
Entire Sample Combined
INCUMBENT COUNT BY ORGANIZATION TYPE
# of Incumbents
% of Incumbents
# of
Responses
Entire Sample Combined
Financial
1,212
6.1%
2
Federal Reserve Bank
2,005
10.2%
9
14,911
75.7%
10
1,579
8.0%
2
Federal Financial Regulatory Agency
Other
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2019 Financial Institutions Reform, Recovery and Enforcement Act
(FIRREA) Compensation Survey – Custom Survey Report
Overview of Survey Participants
Participant List
Sponsoring agencies are listed in bold typeface.
Commodities Futures Trading Commission (CFTC)
Consumer Financial Protection Bureau (CFPB)
Farm Credit Administration (FCA)
Federal Deposit Insurance Corporation (FDIC)
Federal Housing Finance Agency (FHFA)
Federal Reserve Bank of Atlanta
Federal Reserve Bank of Cleveland
Federal Reserve Bank of Kansas City
Federal Reserve Bank of Minneapolis
Federal Reserve Bank of New York
Federal Reserve Bank of Philadelphia
Federal Reserve Bank of Richmond
Federal Reserve Bank of San Francisco
Federal Reserve Bank of St. Louis
Federal Reserve Board
FINRA
InterAmerican Development Bank
International Monetary Fund
Investment Company Institute
National Credit Union Administration (NCUA)
Office of Financial Research (OFR)
Office of the Comptroller of the Currency (OCC)
U.S. Securities and Exchange Commission (S E C)
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2019 Financial Institutions Reform, Recovery and Enforcement Act
(FIRREA) Compensation Survey - Custom Survey Report
FIRREA Responses
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2019 Financial Institutions Reform, Recovery and Enforcement Act
(FIRREA) Compensation Survey - Custom Survey Report
FIRREA Responses
The table below is a presentation of the positions to which each FIRREA agency has matched. The FIRREA
agencies are represented by the following abbreviations:
BOARD
CFTC
FCA
FDIC
FHFA
NCUA
OCC
CFPB
SEC
OFR
Board of Governors of the Federal Reserve System
Commodities Futures Trading Commission
Farm Credit Administration
Federal Deposit Insurance Corporation
Federal Housing Finance Agency
National Credit Union Administration
Office of the Comptroller of the Currency
Consumer Finance Protection Board
U.S. Securities and Exchange Commission
Office of Financial Research
FIRREA RESPONSES
FIRREA Agency Reporting
Position Position
Number Title
0820 Chief Human Capital Officer
BOARD
CFTC
FCA
FDIC
FHFA
NCUA
X
X
X
X
X
OCC
CFPB
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
0821
0822
General Counsel
Chief Financial Officer
X
X
X
X
0823
0824
Chief Information Officer/Chief Technology Officer
Chief of Staff
X
X
X
X
0825
0826
0678
Core Division Head
Head of the Office of the Secretary
Supervisory Economist (Section Chief)
X
X
X
X
X
X
X
X
X
X
X
X
0679
Senior Economist
X
x
X
X
X
0680
Economist II
X
X
X
X
X
0681
Economist I
X
X
X
X
0682
Research Assistant
X
X
X
0683
Assistant General Counsel
X
X
X
X
X
X
X
X
0684
Supervisory Senior Counsel
X
X
X
X
X
X
X
X
0685
Senior Attorney
X
X
X
X
X
X
0686
Attorney (Full Performance Level)
X
X
X
X
X
X
0811
Attorney (Mid-Level)
X
X
0687
Attorney (Entry Level)
X
X
0688
Senior Paralegal
X
0801
Paralegal
X
X
X
0689
Legal Secretary/Technician
X
X
X
0818
Criminal Investigator
0819
Criminal Investigator (LEAP Pay)
X
0731
Supervisory IT Specialist
X
X
0732
Supervisory IT Project Manager
X
X
0733
IT Project Manager
X
X
0802
IT Specialist III (Full Performance)
X
X
0803
IT Specialist II (Mid-Level)
X
0804
IT Specialist I (Entry Level)
0734
Senior IT/Systems Security Analyst
X
OFR
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
SEC
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
Willis Towers Watson Data Services
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
Page 16
2019 Financial Institutions Reform, Recovery and Enforcement Act
(FIRREA) Compensation Survey - Custom Survey Report
FIRREA Responses
FIRREA RESPONSES (continued)
FIRREA Agency Reporting
Position Position
Number Title
0805
IT/Systems Security Analyst
BOARD
CFTC
X
X
FCA
FDIC
FHFA
NCUA
OCC
CFPB
SEC
OFR
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
0735
Senior Database Administrator
X
0806
Database Administrator
X
X
0736
Systems Engineer
X
X
X
0738
Senior Software Engineer
X
X
0814
Business Intelligence Analyst
0815
Data Scientist
0807
Senior Financial Systems Analyst
X
X
X
X
X
X
X
X
X
0740
Financial Systems Analyst
X
X
X
X
X
X
X
X
X
0808
Senior Auditor
X
X
X
X
X
X
X
X
0741
Auditor
X
X
X
X
X
X
X
X
0742
Accountant (Financial Practices)
X
X
X
0743
Senior Financial Analyst
X
X
X
X
X
X
0744
Financial Analyst II
X
X
X
X
X
X
0745
Financial Analyst I
X
X
X
X
X
0746
Financial Accounting Manager
X
0747
Senior Accountant
X
X
X
0748
Accountant (Full Performance Level)
0749
Accounting Technician
X
X
0751
Procurement Manager
X
X
0754
Contract Specialist
X
0756
Director (Examiner, Specialty Area)
0757
Field Manager
0759
0761
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
Examiner V (Technical Expert Level)
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
0763
Examiner IV (Senior Level)
Examiner III
(Full Performance Level/Commissioned Level)
Examiner II
X
X
X
X
X
X
X
0764
Examiner I (Entry Level)
X
X
X
0816
Examiner Trainee
0767
Senior Examiner (Compliance)
0768
Examiner (Compliance)
0769
Capital Markets Specialist
X
0771
Senior Policy Analyst
X
X
0812
RAD Director
X
X
0772
Risk Specialist
X
0776
Training Developer
X
0779
Training Technician
0781
Human Resources Director
0827
Supervisory Human Resources Specialist
X
X
0828
Senior Human Resources Specialist
X
X
0762
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
Willis Towers Watson Data Services
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
Page 17
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2019 Financial Institutions Reform, Recovery and Enforcement Act
(FIRREA) Compensation Survey - Custom Survey Report
FIRREA Responses
FIRREA RESPONSES (continued)
FIRREA Agency Reporting
Position Position
Number Title
0782
Human Resources Specialist
BOARD
CFTC
FCA
FDIC
FHFA
NCUA
OCC
CFPB
SEC
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
OFR
0783
0784
Human Resources Assistant
Security Director
0810
0785
Security Specialist
Librarian
0817
0813
Records Management – (Mid-Level)
Public Affairs Specialist (Full Perf. Level)
0786
Public Affairs Specialist
X
X
X
X
X
X
0787
Staff Assistant to an Executive
X
X
X
X
X
X
X
X
X
0788
Senior Staff Assistant
X
X
X
X
X
X
X
X
X
X
0791
Staff Assistant
X
X
X
X
X
X
X
X
X
X
0792
Clerk/Office Assistant
X
X
X
X
X
X
0793
Mail Clerk
X
X
X
Willis Towers Watson Data Services
X
X
X
Page 18
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2019 Financial Institutions Reform, Recovery and Enforcement Act
(FIRREA) Compensation Survey - Custom Survey Report
Guide to Finding and Using the
Compensation Data in the Report
Willis Towers Watson Data Services
Page 19
2019 Financial Institutions Reform, Recovery and Enforcement Act
(FIRREA) Compensation Survey - Custom Survey Report
Guide to Finding and Using the
Compensation Data in the Report
Locating Compensation Data in this Report
Organization of Compensation Data Presentations
Compensation data in the printed report is organized by position and separated into two categories: All
Organizations and All Federal Financial Regulatory Agencies. The data presentation for each position begins
with an All Organization Summary that shows compensation data on a national basis and includes all
participants.
Geographic Analysis
Geographic data is presented for region as well as consolidated metropolitan areas (as sample size permits).
All areas are presented alphabetically. For example, the data contributed by organizations in Alexandria,
Fairfax, and other proximate Northern Virginia cities will be found in the following geographic groupings,
described as follows:
Region:
Core-Based Statistical Area:
Southeast
Washington-Baltimore-Northern Virginia, DC-MD-VA
Survey statistics (average, 25th percentile, Median, and 75th percentile) are displayed for each position and for
each pay element. Please refer to the Explanation of Data Definitions for additional information.
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2019 Financial Institutions Reform, Recovery and Enforcement Act
(FIRREA) Compensation Survey - Custom Survey Report
Guide to Finding and Using the
Compensation Data in the Report
Suggestions for Using the Data in this Report
Organizations determine their compensation philosophies and assess their labor markets from a variety of
perspectives. These include geographic, industry and organization size (e.g., revenue, assets or FTEs).
The use of valid, statistically-based information such as survey data minimizes uncertainty in compensation
decision-making. Frequently, the only competitive information available is that developed through the use of
survey methodology. While WTWDS surveys are professionally tended, the following guidelines will help to
reduce the likelihood of misjudgment and build your confidence in any decisions reached.
1. When making comparisons to survey data, the first step should always be to compare the duties and
responsibilities of the job under consideration to the survey description. The survey description forms
the basis for the collection of the survey data. Job titles should not be used in isolation since they can
often be misleading as to job content.
2. When using the compensation data contained in this report, take time to review the data presented. For
example, a few disproportionately high or low salaries reported for a job can influence the sample in a
way that may make it less representative of the population. In such an instance, the average and
weighted average salaries reported for the job may be less indicative of the central tendency of the
population than the median value. One way to detect such an effect is through a comparison of the
median, average and weighted average salaries. The extent to which they differ is an indication of the
degree to which a few disproportionately high or low salaries are represented in the data.
3. It is WTWDS policy to provide data in compliance with antitrust guidelines. Generally, it is more useful
when making a decision to have some representative data than to have no data at all. The number of
reporting organizations and incumbents in the job is an indicator of the breadth of representation in the
sample. If the number of incumbents reported closely matches the number of reporting organizations,
the relative influence of the participating organizations reporting is more evenly balanced.
Willis Towers Watson Data Services
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2019 Financial Institutions Reform, Recovery and Enforcement Act
(FIRREA) Compensation Survey - Custom Survey Report
Guide to Finding and Using the
Compensation Data in the Report
Updating Survey Data
Most compensation professionals apply some type of update factor to survey data in order to keep pace with
changes in the marketplace that may have occurred since the data was collected. A typical approach is to use
anticipated salary growth (represented by current labor market data on salary increase budgets) in conjunction
with the number of months elapsed since the effective date of the salary data. The following example illustrates
this approach:
1. The prorated monthly estimate of the current year’s budgeted salary increase figure (6.0% for this
example) is divided by 12 (the number of months in a year).
6.0%
¸
12
=
0.5%
2. The prorated monthly estimate (0.5% for this example) is multiplied by the number of elapsed
months since the effective date of the data. Assuming the data was effective as of March 1 and the
desired update is to November 1, eight months have elapsed for purposes of this example.
0.5%
´
8
=
4.0%
3. The prorated eight-month salary increase estimate (4.0%) is added to the March 1 average salary for
the position and survey in question ($30,000 for this example) to estimate the average November 1
salary.
$30,000
´
.04
=
$1,200
$30,000
+
$1,200
=
$31,200
This approach to updating survey data is generally valid in times of relative economic stability. During periods of
fluctuating inflation or recession, the figure should be adjusted upward or downward as the economic climate
dictates. Due to numerous internal and external factors that affect compensation, Willis Towers Watson does
not recommend aging data beyond 18 months.
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2019 Financial Institutions Reform, Recovery and Enforcement Act
(FIRREA) Compensation Survey - Custom Survey Report
Guide to Finding and Using the
Compensation Data in the Report
Calculating a Salary Range Minimum and Maximum
The following shows how to calculate a salary range minimum and maximum around a given midpoint when the
desired salary range spread (the percentage difference between minimum and maximum) has been
established.
Let Y symbolize the desired range spread
Let S symbolize the planned midpoint of the salary range
The formula for the limits (Minimum and Maximum) is:
S
±
{ S [Y/(2+Y)] }
For example, if the desired range spread is 60% and the midpoint is $50,000, the limits are:
Desired range spread
=
Y = 60%
Planned salary range midpoint
=
S = $50,000
Minimum
=
=
=
=
=
S - { S [Y/(2+Y)] }
$50,000 - { $50,000 [.60/(2 + .60)] }
$50,000 - { $50,000 (.23) }
$50,000 - { $11,500 }
$38,500
=
=
=
=
=
S + { S [Y/(2+Y)] }
$50,000 + { $50,000 [.60/(2 + .60)] }
$50,000 + {$50,000 (.23) }
$50,000 + { $11,500 }
$61,500
Minimum
Maximum
Maximum
So, for a planned salary range midpoint of $50,000 and a range spread of 60%, the minimum and maximum of
the range are $38,500 and $61,500 respectively.
Willis Towers Watson Data Services
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2019 Financial Institutions Reform, Recovery and Enforcement Act
(FIRREA) Compensation Survey - Custom Survey Report
Explanation of
Data Presentation Terms
Willis Towers Watson Data Services
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2019 Financial Institutions Reform, Recovery and Enforcement Act
(FIRREA) Compensation Survey - Custom Survey Report
Explanation of Data Presentation Terms
Position Comparison Table Definitions
Adjusted Annual Base Salary: Average annual base salary adjusted by locality pay or geographic differential.
Displayed in thousands of dollars.
Adjusted Total Compensation: The adjusted total compensation paid to the employee matched to the
position, which includes annual base salary adjusted by locality pay or geographic differential, short-term
bonus/incentive, and other cash compensation. Displayed in thousands of dollars.
Annual Base Salary: Average annual salary as of April 1, 2019 for all employees in this position. Displayed in
thousands of dollars.
Bonus/Other Cash Compensation Eligibility: Shows the percentage of incumbents who are eligible for
bonus/other cash compensation.
Comp to Average: The percent your organizations average and/or median are different than the market
incumbent weighted average.
Comp to Median: The percent your organizations average and/or median are different than the market
incumbent median.
Degree of Match: Shows the percentage allocation of degree of match, based on each incumbent’s degree of
match response.
Locality Pay or Geographic Differential: The locality pay or geographic differential percentage paid to
employees in the position.
Number of Incs: The total number of employees for which compensation data is reported.
Number of Orgs: The total number of participating organizations providing data for the position.
Other Cash Compensation: Shows the other cash compensation paid to the employee matched to the
position within the last 12 months. Displayed in thousands of dollars.
Salary Range Maximum: Maximum of the salary range for this position. Displayed in thousands of dollars.
Salary Range Midpoint: Midpoint of the salary range for this position. Displayed in thousands of dollars.
Salary Range Minimum: Minimum of the salary range for this position. Displayed in thousands of dollars.
Short-Term Bonus/Incentive: The bonus/incentive paid to the incumbent in the position. Displayed in
thousands of dollars.
Target Short-Term Bonus/Incentive: Shows the average target bonus/incentive displayed as a percent of
salary.
Total Cash Compensation: The total cash compensation paid to the employee matched to the position, which
includes annual base salary, short-term bonus/incentive, and other cash compensation. Displayed in thousands
of dollars.
Total U.S. FTEs: Displays total employees reported by organizations matching to the position.
Willis Towers Watson Data Services
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2019 Financial Institutions Reform, Recovery and Enforcement Act
(FIRREA) Compensation Survey - Custom Survey Report
Explanation of Data Presentation Terms
Position Comparison Table Definitions (continued)
Your Average: The average reported by your organization for this position.
Your Median: The median for your organization for this position (excel spreadsheet only).
Your Number of Incs: The number of incumbents your organization matched to the position.
Calculated Statistics Definitions
Incumbent Weighted Average: An average calculated by multiplying each occurrence of data by a weighting
factor, e.g., average salary reported by the number of incumbents in the position at each reporting company.
The results are added and then divided by the weighting of that factor, i.e., the total number of incumbents
reported.
Organization Weighted Average: A simple arithmetic average is calculated by adding all occurrences of data,
e.g., the average salary for a given job as reported by each survey participant, and dividing the result by the
number of occurrences, i.e., the number of participants. Averages weigh each participant’s input on an equal
basis, regardless of the number of incumbents reported.
10th Percentile: The value in an array below which falls 10% of the sample and above which lies 90% of the
sample. Together with the 90th percentile, a range of data can be identified that eliminates extremes in the
sample and provides a more realistic dispersion of data.(excel spreadsheet only)
25th Percentile: The value in an array below which falls 25% of the sample. Seventy-five percent, or threefourths, of the values in the sample are greater in magnitude than the 25th percentile value.
Median: The value in the middle of an odd numbered array of data when the values are ordered by magnitude.
Half of the values in the sample fall above this number and half fall below it. When the array contains an even
number of values, the median is midway between the central values.
75th Percentile: The value in an array below which falls 75% of the sample. Twenty-five percent, or one-fourth,
of the values in the sample are greater in magnitude than the 75th percentile value.
90th Percentile: The value in an array below which falls 90% of a sample and above which lies 10% of the
sample. Together with the 10th percentile, a range of data can be identified that eliminates extremes in the
sample and provides a more realistic dispersion of data. (excel spreadsheet only)
Willis Towers Watson Data Services
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2019 Financial Institutions Reform, Recovery and Enforcement Act
(FIRREA) Compensation Survey - Custom Survey Report
Position Descriptions
Willis Towers Watson Data Services
Page 29
2019 Financial Institutions Reform, Recovery and Enforcement Act
(FIRREA) Compensation Survey – Custom Survey Report
Position Descriptions
Position Listing
Executive (New)
0820
0821
0822
0823
0824
0825
0826
Chief Human Capital Officer (New)
General Counsel (New)
Chief Financial Officer (New)
Chief Information Officer/Chief Technology Officer (New)
Chief of Staff (New)
Core Division Head (New)
Head of the Office of the Secretary (New)
Economist
0678
0679
0680
0681
0682
Supervisory Economist (Section Chief)
Senior Economist
Economist II
Economist I
Research Assistant
Legal
0683
0684
0685
0686
0811
0687
0688
0801
0689
0818
0819
Assistant/Deputy General Counsel
Supervisory Senior Counsel
Senior Attorney
Attorney (Full Performance Level)
Attorney (Mid-Level)
Attorney (Entry Level)
Senior Paralegal
Paralegal
Legal Secretary/Technician
Criminal Investigator
Criminal Investigator, Premium or Law Enforcement Availability Pay
(LEAP) (New)
Information Technology
0731
Supervisory IT Specialist
0732
Supervisory IT Project Manager
0733
IT Project Manager
0802
IT Specialist III (Full Performance)
0803
IT Specialist II (Mid-Level)
0804
IT Specialist I (Entry-Level)
0734
Senior IT/Systems Security Analyst
0805
IT/Systems Security Analyst
0735
Senior Database Administrator
0806
Database Administrator
0736
Systems Engineer
0738
Senior Software Engineer
Willis Towers Watson Data Services
Page 30
| File Type | application/pdf |
| File Modified | 2020-10-19 |
| File Created | 2019-08-15 |