Compensation database goes online in LOMA/Towers Perrin effort

To provide the most current compensation data available to human resource professionals in the financial services industry, LOMA is partnering with Towers Perrin at its Web-based compensation survey data reporting service, Comp Online.

"Our partnership with Towers Perrin will allow LOMA participants to subscribe to Comp Online to create customized comparisons using the Towers Perrin and LOMA databases," said Thomas P. Donaldson, president and CEO of Atlanta-based LOMA, an association of life/health insurance and financial services companies. "Users can compare compensation information from banks and brokerage firms, as well as insurance companies,"

The databases from LOMA and Towers Perrin, a management and human resources consulting firm, include base salary and incentive compensation data on job levels ranging from entry level to top executive posts. Comp Online users can:

• Compare their company's compensation packages with those at companies of similar size, assets, and geographic location.
  
• Create customized comparator groups online.
  
• Assess the total value of a compensation package, looking at both short- and long-term incentives.
  
• Customize report formats and statistics.
  
• Develop sophisticated analyses using regression, long-term expected values by salary, etc.
  
• Compare compensation across the entire financial services industry.

For many years, LOMA has conducted annual surveys of compensation practices in the insurance and financial services industry and has built up an extensive database. Each year, LOMA seeks to find out what companies pay in more than 250 industry positions. Based on this data, LOMA produces three printed reports- an Executive Compensation Survey, a Managerial & Professional/Technical/Compensation Survey and an Administrative/Entry-Level Compensation Survey.

Those who submit data receive the printed survey results for a reduced fee and will be eligible to subscribe to Comp Online. Non-participants can purchase the finished report, but can't subscribe to Comp Online.

Other advantages of Comp Online are the quick turnaround time for customized information, access to new company data submitted throughout the year, and the ability to save the content in a format useful for company reports and presentations.

For more information on how to participate in the LOMA surveys, receive survey results, and subscribe to Comp Online, call Mary Ryan at 770/984- 3753, send e-mail to ryan@loma.org, or visit LOMA's Web site at www.loma.org

Edited by Steve Tarnoff