CU CEOs Rake It In Compared With Banking Counterparts
Credit union CEOs who manage more than $250 million in assets earn more in base salary and total compensation than their banking counterparts do, according to the 2013 CUES Executive Compensation Survey, released Aug. 2.
Is it an apples-to-apples comparison? It depends on who you ask.
Community banks compete for the same talent as credit unions, Leggett said, so compensation packages at either institution, regardless of asset size and what form that compensation takes, tend to be in line with each other.
“So while banks may have more discretion offering incentives such as stock options–and most community banks don’t because they aren’t publicly traded entities–you’ll find credit unions will make up for it in other ways,” Leggett said. “That’s why their median base salaries are higher.”