Compensation
Compensation arrangements for executives within financial institutions should be customized to and aligned with a company's culture and values, business strategy, trends in the industry and comparable to that of peers in the industry. Meyer-Chatfield Compensation Advisors dedicates our service to realizing the specific needs of each client and tailoring the design of compensation for your institution.
Utilize Well-Defined, Relevant and Rigorous Results-Based Metrics. Incentive plans should be customized to the company to support the realization of its business strategy while limiting overly aggressive or overly conservative decision-making.
Ensure Pay Peer Group Is Appropriate for the Company. The pay peer group typically includes similarly situated companies in terms of industry, size, location(s) and performance and should correlate closely with the performance peer group.
Confirm Compensation Levels Are Relative to Competitors. By comparing the company’s compensation program to that of peers, the compensation committee can determine the competitiveness of each element of executive compensation and the total program.