Target Hiring Guidelines for Credit Union Executives
D. Hilton Associates has tracked job offers in the credit union industry for more than 20 years. Our latest study spans the executive searches we conducted over the past 24 months (2012 – 2013). Using data collected from hiring credit unions, as well as from job applicants, D. Hilton explored key trends related to the job offer process. While many readers would suspect that a base pay increase would be the prime motivator for an executive to take another position, our research found that, candidates had other reasons for making a change beyond base pay.
There is a definite executive talent shortage as more credit unions tap first-timers as their CEOs. The job title comes with a hefty salary bump. The average pay increase for first-time CEOs is 32% compared to the 14% average pay increase for senior executives making moves to non-CEO positions. These pay increases have been higher than the old adage that it takes 20% to make someone move. The following chart shows this finding to be true across all asset ranges.
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