ENGLEWOOD, CO (February 10, 2014) -- Richey May & Co, a CPA and business advisory firm serving the mortgage industry, is now gathering information for its annual salary survey. The survey includes base and incentive compensation data for a wide range of employees of privately held mortgage bankers, from the executive level to underwriting to shipping.
Richey May is urging independent mortgage bankers to participate in the survey. The deadline for submitting information is February 28, 2014. Results will be released to those that purchase the report on March 31, 2014. Participants are not compensated for completing the survey. However, those whose information is used in the survey are eligible to purchase a custom report, which is an upgraded version of the standard survey report. Custom reports indicate the participant company’s ranking against its peers, for each of the positions for which it submitted salary information. These custom reports are only available to survey participants. The cost of a custom report is $3,500, the same price as a standard report.
Richey May’s independent salary survey provides base and incentive compensation for executives, loan officers, closers, senior management, underwriters, post-closing staff, management, processors and shipping staff. Each salary report categorizes data based on the company’s loan volume, regional location, operating model and number of employees.
“Labor costs account for a substantial piece of bankers’ overhead,” said Kenneth Richey, managing partner of Richey May. “We offer the industry’s only survey of salaries paid at independent mortgage bankers, which allows those organizations to see a true comparison and gain insight into how their salary levels measure up in relation to their peers. We’re in a very competitive employment market today, so it’s vital that independent mortgage companies pay their employees’ salaries that are in line with the rest of the industry.”
Independent mortgage bankers that wish to participate may visithttps://www.surveymonkey.com/s/Independent_Mortgage_Bankers_Salary_Survey and fill out the brief online survey. All information gathered for this study will remain strictly confidential and will only be included as part of a blended average. Once the information is compiled, the report will be available for purchase and immediate use.
Reports may be reserved by emailing RMSelect@RicheyMay.com.
About Richey, May & Co, LLP
Richey, May & Co is a CPA, business advisory and technology firm specializing in the mortgage industry. The company’s offerings include audit, tax and business consulting services, as well as peer-to-peer benchmarking technology for small to mid-size independent mortgage bankers. Richey May’s clients include mortgage bankers in over 30 states, and range from small local originators to national lenders with annual loan production volumes in excess of $10 billion. In addition to its personalized advisory services and Richey May Select peer-to-peer benchmarking technology, Richey May has become known for its annual salary report of independent mortgage bankers, a survey based on the confidential responses of privately held mortgage banking firms. Richey May was founded in 1985 and is based in Englewood, Colorado. For more information on Richey May, please visit RicheyMay.com or follow Richey May at @RicheyMay.