Insurance Compensation Club Survey, Latin America

Advantages

• Better understanding of the responsibilities for each job presented in an industry catalogue.
• Competitive evaluation for every item in the total remuneration package, in relation to the banking industry.
• Salary increase information based on market practices.
• Ability to compare against market (banking industry) or against a specific segment.
• HR focus on value added activities, such as strategic planning, with less time spent on salary and benefits administrative tasks.
• Access to reliable and up to date market data, including long term incentives analysis and benefits quantification.
• Access to ad-hoc reports and statistics specific to your needs.
• Access to market information at any time and place through an online tool.

Methodology

Mercer presents this survey’s results using two different approaches:

• Traditional: comparison done by identifying the Banking industry equivalent in Mercer’s job catalogue.
• Job pre-evaluation: all positions are analyzed using a system which delimitates the job responsibilities in relation to the job titles (Mercer system IPEv3.1)

Mercer´s methodology analyzes the total remuneration in six levels:

• Base salary = Base salary multiplied by 12
• Base annual salary= Base salary + Christmas bonus (multiplied by 13)
• Total guaranteed cash compensation = Base salary plus guaranteed allowances
• Total cash compensation = Total guaranteed cash compensation plus short-term incentive, sales incentive, profit sharing or other incentive awards
• Total direct compensation = Total cash compensation plus long-term incentive awards, valued using Black-Scholes methodology for appreciation-based awards
• Total remuneration = Total direct compensation plus benefits and perquisites.

The catalogue includes approximately 400 positions from all levels (from Analysts to CEOs) in different areas of the company.

Results are delivered via Mercer WIN®, an interactive tool that allows access to the Club survey results and enables you to:

• Process the total sample of companies and one defined sample by company (with a minimum of 8 participants)
• Generate unlimited ad-hoc reports (by job title, compensation level, etc.)
• Organize job groupings for better reporting
• Export results to Excel
• Update data by index, both your company’s and the market’s data

Deadline to participate: April 2022
Effective date: May 2022
Survey Results: August/September 2022

Argentina
Inés García Toscano
+54 11 5671 3610
ines.garcia.toscano@mercer.com

Colombia
Elizabeth Manzour Gamboa
elizabeth.manzour@mercer.com