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2014 Salary & Benefit Study for Community Banks and Credit Unions Released by FMSI



FMSI, a leading workforce optimization solution provider for banks and credit unions, released today its Salary & Benefit Study for Community Banks and Credit Unions. The FMSI Study is based on a compilation of labor statistics, built from financial institutions all across North America. This year’s study indicates a wide rate variation between both the segmented regions and institution sizes.

“We are in a unique position in that we have access to data comprised of more than 10,000 financial services employees from over a thousand financial institution branches,” said W. Michael Scott, President/CEO of FMSI. “Our Salary & Benefit Study compiles this valuable information and presents it in several different charts, allowing financial institutions to either validate or potentially adjust their unique rates to be more in-line with industry standards.”

The complimentary FMSI Salary & Benefit Study includes the following aggregated salary & benefit (S&B) rates from hundreds of financial institutions:

  •     Average Hourly S&B Rates per Specific Region
  •     Average Hourly S&B Rates by Institution Size
  •     Average Hourly S&B Rates for Part-Time Employees
  •     Average Hourly S&B Rates for Full-Time Employees

“How the branch is being utilized by account holders has gradually changed over the past couple of decades,” added Scott. “With transactions dropping and staffing levels remaining the same, the inevitable outcome is costly improper staffing in the branch environment. It is imperative for financial institutions to rein in their labor costs, if they want to remain a viable player in the industry.”

Copies of the FMSI 2014 Salary & Benefit Study are available to the media upon request, and the data contained in the study may be used freely in articles provided credit is given for its source.

About FMSI
Located in Atlanta, GA and established in 1990, FMSI provides easy-to-use, yet sophisticated, software-as-a-service solutions, including: Omnix Staff Scheduler™, Omnix Interactive Dashboard™, Omnix Performance Analytics™, and Omnix Lobby Tracker™. FMSI’s smart scheduling application gives banks and credit unions the ability to optimally schedule their team throughout the branch network and to manage staff through easy to read color graphics, online interactive dashboards, and succinct management reports. FMSI provides performance management information exclusively to financial institutions of all sizes, including a workforce optimization comparative data benchmarking report that allows clients to see where they rank amongst their industry peers. Visit the company's website at http://www.fmsi.com or call 877.887.3022 to schedule a complimentary online demonstration of any of our products. You can also quickly estimate your savings with FMSI’s Efficiency Calculator at http://www.fmsi.com/calculator/