MEMBERSHIP IN clubs and deferred compensation are the perquisites most often given to bank chief executive officers, according to a recent survey.
Conducted by executive search firm Heidrick & Struggles for the American Banker, the survey was mailed to CEOs at the nation's top 300 commercial banks. Responses were received from 24 CEOs; the average asset size of their banks was $11 billion. Although the small sample makes it difficult to draw statistically valid conclusions, compensation consultants generally agree with the survey findings.
"Membership in clubs, especially for CEOs of large organizations, is pretty darn common," said Dana Daniels, senior manager of compensation studies in the New York office of KPMG Peat Marwick. "They use these clubs for business contacts: lunch meetings, dinner meetings, breakfast meetings golf."
Slightly less than one-half of survey respondents receive an automobile. Mr. Daniels thought that number low.
"A company car or a car allowance are usually very popular perks for executives," he said. "Our studies usually show them in the 70% to 75% range."
Less than one-half of respondents receive financial counseling.
Approximately one-quarter are awarded first-class air travel, while one in six enjoy the use of company planes.
"These are high numbers," said Mr. Daniels. "They are definitely big-bank driven. Only the largest organizations have company plane."
Legal counseling as cited very infrequently by the survey respondents.
Some perks enjoyed by executives in other industries were not mentioned at all by the banking executives. These include, low-cost loans and reimbursement of uninsured medical costs.