After five years of sluggish salary growth, the financial sector is finally seeing a spark of change, according to the 2025-2026 BalancedComp Salary & Incentive Survey, a leading national benchmark for banks and credit unions due to be published later this month. The data reveals significant upward movement in salaries, not just for executives but also for key non-executive roles.

CEO Salaries Surge After Years of Stagnation

For years, executive pay increases have been modest at best. Jordan Summervill, Director of Compensation at BalancedComp, noted, “We have had a difficult time over the past five years to move the CEO midpoint by even 2% a year.” This year, however, the tide has turned. The survey reports a striking 21.48% increase in CEO midpoint salaries when looking at all asset sizes and blending banking and credit union data. This places CEOs at the top of the fastest-growing salary categories for the first time since the survey’s existence 10 years ago.

Summervill tempers his enthusiasm with caution, emphasizing the need to cross-reference other industry surveys to confirm the extent of this growth. Nevertheless, the data suggests that financial institutions prioritize competitive pay to secure top leadership talent in an increasingly competitive market.

 

Other Executive Roles Join the Growth Trend

The salary surge isn’t limited to CEOs. The BalancedComp survey highlights several other executive positions experiencing rapid pay growth:

• Chief Operating Officer (COO): Unlike the Chief Operations Officer, the COO’s role is seeing significant increases, reflecting its critical role in driving strategic operations.
• Top IT Executive: With digital transformation and cybersecurity at the forefront, IT leaders are commanding higher salaries to meet the demands of a tech-driven industry.
• Chief Lending Officer: As lending strategies adapt to economic shifts, the compensation of this role is climbing to match its importance.

These trends vary significantly by asset size, with larger institutions (over $1 billion in assets) often showing more pronounced increases than smaller ones. Financial leaders should pay close attention to asset-specific benchmarks to ensure competitive positioning.

 

Non-Executive Roles Also See Strong Growth

The 2026 survey reveals that salary growth isn’t exclusive to the C-suite. Several non-executive positions are also on the “hot” list, driven by market dynamics and increased visibility:

• HR Specialist: As talent management becomes more critical, HR roles are seeing boosted pay.
• Operations Representatives: These roles are vital to operational efficiency, and their salaries reflect growing demand.
• Administrative Assistants: Often the backbone of organizational workflows, these positions are gaining recognition.
• Teller Supervisors: Frontline leadership in customer-facing roles is commanding higher pay.
• Business Development Officers: With a focus on growth and client acquisition, these roles are increasing in value.

Summervill attributes some of this growth to pay transparency laws, which have shed light on better-paying opportunities elsewhere, making these roles more competitive. “Some of this growth may be spurred on by pay transparency laws that have brought transparency about other opportunities in the marketplace that may pay better, making these jobs in higher demand,” he explained. He also noted that sometimes a job becomes “hot” for reasons that defy easy explanation, highlighting the complex dynamics of labor markets.

 

Navigating a “No Fire, No Hire” Economy

The broader economic context adds complexity to these trends. Summervill describes the current climate as a “no fire, no hire” economy, where employers are cautious amid concerns about stagflation—a combination of stagnant growth and inflation. In this environment, organizations aim to balance cost control with talent retention. However, adopting a “you’re just lucky to have a job” compensation philosophy is, in most cases, a risky misstep. As Summervill advises, “Paying competitively to market is always the best long-term compensation strategy instead of a knee-jerk reaction to the latest news.”

Reliable data is critical to achieving this. The BalancedComp Salary Survey provides a robust foundation for institutions to benchmark salaries, align with market trends, and make informed decisions. Whether you’re setting pay for a CEO or a Teller Supervisor, data-driven strategies are essential for staying competitive.

 

Why This Matters for Banks and Credit Unions

The 2026 BalancedComp Salary Survey underscores a pivotal moment for the financial sector. After years of minimal growth, the significant salary increases for both executive and non-executive roles signal a renewed focus on talent investment. For HR professionals, compensation committees, and leadership teams, this data offers actionable insights to navigate a complex labor market.

As institutions plan for the future, leveraging high-quality data like BalancedComp’s 2025-2026 Salary & Incentive Survey will be key to attracting and retaining top talent. All survey participants have received this final report. Order your copy of the report today to avoid the wait. 

In a time of economic uncertainty, competitive pay isn’t just a perk—it’s a strategic imperative.

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