Position Pricing, Compcompare™.
It can be bewildering to price a new position in the department or the bank, especially if the position is newly created or has not turned over in a long time. Averages are only one aspect of pricing a position and they don’t always fit a person in a position or a person being considered for a position. As useful as it is, sometimes the data from surveys such as our COMPCOMPARE™ service do not provide the information you need to price a particular position within your department or bank.
We can price a position for both incumbents and for new hires by data mining the COMPCOMPARE™ database and consulting with our Search Division staff. This is typically a project that involves a discovery call with management (and sometimes Human Resources) to define clearly the results you are seeking.
The primary parameters for the pricing exercise are typically experience and education. We adjust the findings for cost of living variances between the data sources and your market.
Deliverables: a letter defining our recommended pricing; a document with the supporting material used to formulate our recommendations.