Watson Wyatt Data Services' Newest Report Covers Latest Compensation Practices for Financial Institutions

Nearly half of surveyed Trust & Investment workers received bonuses in 2006. Salary Increases for Banking Executives jump an averaged 4.8 percent.

ROCHELLE PARK, N.J., (October 30, 2007) – Watson Wyatt Data Services, a wholly-owned subsidiary of Watson Wyatt Worldwide, today announced the publication of the results of the 2007/2008 Financial Institutions Compensation Survey.
Based on responses from 172 organizations, the 2007/2008 Financial Institutions Compensation Survey Set contains data based on the responses from 603 locations reporting information on 108,275 incumbents. A total of 113 geographic areas are reported on as a result of this survey. 

Seven separate reports detail data derived from this survey. The seven reports are:

• Report on Financial Institutions Commercial Banking Positions

• Report on Financial Institutions Cross-Industry Positions

• Report on Financial Institutions Retail Banking Positions

• Report on Financial Institutions Benchmark Positions

• Report on Financial Institutions Trust & Investment Services Positions

• Report on Financial Institutions Consumer Finance & Mortgage-Based Banking Positions

• Report on Financial Institutions General Executive Positions.

Topics covered within the reports include increases to salaries and total cash compensation, positions experiencing the largest increases, bonus and other variable pay programs and changes in bonus and/or other cash compensation plans.Findings from the 2007/2008 Financial Institutions Compensation Survey can be purchased individually or as a complete Financial Institutions Compensation Report Set.

About Watson Wyatt Data Services
Watson Wyatt Data Services (WWDS), a wholly owned subsidiary of Watson Wyatt Worldwide, is a leading provider of compensation, benefits, and employment practices information to the global employer community.  From offices around the world, we solicit, analyze, and publish an extensive library of printed, interactive and online survey reports. Our compensation databases are recognized worldwide as the most reliable source of current data for compensation planning.

Global scope, local knowledge …
Covering more than 80 countries across six continents, our data centers in the U.S., Canada, Europe, Asia, and Latin America annually compile reports on the remuneration, benefits, and employment practices of local and multinational companies.  Our “in-country” experts apply their local knowledge of the varied employment markets, practices, and customs to deliver a complete compensation picture that can be used to create sound, market-based pay programs for entire organizations. Our international databases contain compensation information covering millions of employees based on the annual survey participation of organizations ranging from emerging growth companies to many of the world’s largest conglomerates. 
In addition to compensation surveys, WWDS also publishes references that help HR practitioners attract, retain, and reward exceptional employees. These guides cover a wide variety of subject areas, including variable pay, performance management, and personnel policies on a local, regional, and global basis. For more information, visit our Web site at WWDS.com.

For more information, contact:
MaryBeth Iannaccone
Watson Wyatt Data ServicesTel: (201) 843-1177, extension 3480
E-mail: Marybeth.iannaccone@watsonwyatt.com