The Rundown
- Community bank consolidation opens door for more recruitment.
- Compensation depends on numbers of factors including regional aspects.
- Separation of MBL duties, committees playing more of a factor.
If a credit union in the Pacific Northwest is hoping to compete with other financial institutions to woo a heavily sought-after executive for its business lending division, be prepared to make at least an $85,000 offer.
Robert Pfaendler, president of The Robert Pfaendler Co. LLC, a Bend, Ore.-based recruiting firm, shared that reality at a recent webinar hosted by CU Business Group on staffing a business lending program.
"In the banking world, it would be $85,000 to $90,000. That's midpoint. When you get into the management level, it can up go up to $120,000," Pfaendler said. "That type of experience is premier quality and a tough person to find."
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