The Stratmor Group announced plans to further expand its annual Stratmor Compensation Survey designed to provide an analytical outlook of the relationship between compensation and performance across the mortgage industry.
Until now the Peachtree City, Ga.-based mortgage industry advisory firm has conducted periodic surveys to gather data by position, salary, bonuses, incentive payments and other compensation strategies.
A jump in the
If in the past the survey has been limited to a small group of invited lenders only, said Stratmor Group partner Nicole Shown Yung, in 2013 the survey will include lenders of all sizes and company types.
“Consultants will open up the study to a broader cross-section of industry participants,” she said. For example, the new Executive Survey will include all loan originators regardless of the production channel, “the sales and fulfillment participants will be confined to either the retail or consumer direct channels.”
For select positions the advisory firm plans “to statistically analyze the relationships that might exist between compensation levels” and a number of variables such as production volume, department staffing and productivity.
A more expansive data pool will allow analysts to compare findings using outcomes from previous surveys before they send to participating lenders a detailed report.
The new reporting system will replace survey averages provided in the past with direct data. The upgrade will also include “a segmented analysis based on key company differences and characteristics” that gives lenders and servicers more granular data and allows bankers “to hone in on the best peer subsets for comparison and calibration,” the firm said.
The 2012 Stratmor Compensation Survey results will be posted online on April 15, while individualized lender reports will be sent out in May.
