2024 Incentive compensation in banking survey has been saved
Perspectives
2024 Incentive compensation in banking survey
Discover insights on incentive plan design and management in banking
For banks and investment management firms, incentive-based compensation plays a valuable role in motivating employees, attracting talent, and managing risk. Explore five themes in incentive compensation management practices that can help banks evaluate and improve their own programs.
Incentive compensation management in banking
As the banking industry faces increasing shareholder and regulatory oversight and workforce competition, incentive compensation and governance programs are increasingly in the spotlight. Incentive-based compensation programs are crucial for motivating employees, attracting and retaining talent, aligning performance with strategic goals, and fostering a culture of accountability. Proper governance ensures that compensation practices are fair, transparent, and compliant with regulatory requirements.
In summer 2024, Empsight International, LLC and Deloitte Tax LLP launched the Incentive Compensation and Governance Survey to learn more about trends in incentive compensation design and incentive policy across the banking and investment management sectors. Twenty-five organizations operating in the United States were surveyed, with total assets ranging from $2.6 billion to $1.9 trillion.
We designed this survey to gain a deeper understanding of how the industry designs, operates, and governs its incentive compensation programs and to provide industry insights on differing approaches to strategically critical risk oversight policies and processes.
Our findings identified key practices concerning incentive plan design and participation, the role of risk within the compensation framework, and the approach to governance in the context of compensation decisions.
5 themes in incentive compensation and governance banking
While the approach to incentive compensation and governance varies across the banks and investment management organizations we surveyed, five common themes emerged:
Optimize your incentive compensation plan
Download the full survey results by filling out the form below. If you’re interested in learning more or participating in future surveys, please let us know and we’ll get in touch.
Get in touch
| Eddie Barrett Human Capital Banking Leader Managing Director Deloitte Consulting LLP ebarrett@deloitte.com |
Ashton Beckett Senior Manager Deloitte Tax LLP asbeckett@deloitte.com |
Michele Crish Managing Director Deloitte & Touche LLP mcrish@deloitte.com |
| Ian Dawson Principal Deloitte Tax LLP iadawson@deloitte.com |
Irena Gecas-McCarthy Principal Deloitte & Touche LLP igecasmccarthy@deloitte.com |
Linda Quaranto Managing Director Deloitte Consulting LLP lquaranto@deloitte.com |
| Richard Rosenthal Principal Deloitte & Touche LLP rirosenthal@deloitte.com |
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