Need details of incentive/bonus plans offered to branch employees and
telephone banking employees at 7-10 large U.S. banks. Must attach
copies of full incentive plans for employees giving dollar amounts and
incentive formulas for each of the 7-10 banks researched.

Some of the details that these incentive plan reports will have are:
1. How much do banks pay their employees  for signing up new customers
for different accounts like checking, credit, CDs etc.
2. How much are employees paid for selling 'new products' (e.g.
savings account or credit cards) to existing customers?
3. Is the incentive amount based on the 'number' of new products sold,
type of product sold or is it based on 'account balances'?
4. Are the employees paid for each 'sign-up' or are they assigned
'annual sign-up target' and paid on basis of percentage of target attained?

Must attach copies of full incentive plans for employees giving
dollar amounts and incentive formulas for each of the 7-10 banks
researched.

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Request for Question Clarification by jbf777-ga on 25 Dec 2002 21:19 PST

Hello isd-ga! 

Do you need this information for "branch AND telephone banking
employees" *for each bank,* or "branch OR telephone banking employees"
for each bank?  Branch AND telephone banking employee information is
potentially twice the work than just finding one or the other.

jbf777-ga

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Clarification of Question by isd-ga on 26 Dec 2002 07:44 PST

Hello jbf777-ga,

Thanks for your question. Typically, the same incentive plan will
mention the bonus amount for ALL positions in the bank - both in call
centers and for branch employees too. So hopefully it should not
entail more work. However, if you do find that the reports are
separate and do require twice the work, then you can reduce the number
of banks reported to about 5. Hope this clarifies.

isd-ga

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Request for Question Clarification by jbf777-ga on 27 Dec 2002 09:16 PST

Hi again -
 
I made 4 contacts on the corporate and branch level of 3 banks.  One
of the reps specifically said this type of information is confidential
-- that she wouldn't know of any bank that would publicly disclose
their compensation information.  I've also tried searching the net,
and am coming up empty-handed for the most part.  I'm assuming you've
already contacted some banks and ran into the same problem?
    
I see it as next to impossible to obtain this information in the
"formal" format you're requesting [such as "attaching copies of full
incentive plans" to the answer].  This information is simply not
disclosed [at least according to the two major banks I contacted]. 
The only pragmatic approach I see to getting this information is if I
were to locate banks with currently-hiring teller-type positions and
see if they will informally disclose their incentive packages on the
phone.  This isn't the formal format you're requesting, but I think
it's the only thing we'd be able to do for you on this question,
unless another researcher has some brighter ideas.

jbf777-ga

Thinking a bit more about this... if I were in your position, and I
really needed the information, I would post 7-10 independent questions
on here in the $100+ range each corresponding to a different, but
named, bank.  There are 500+ researchers on here, and I think you'd
have a better chance of seeing them independently answered.  Just a
thought.
 
jbf777-ga