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FAQ 

Who are we and what do we do?
Why state surveys?
Are participants names listed?
When am I responsible for the invoice?
Why Blended Bank and Credit Union Salary Results?
Do you change reported salaries?
What are Note 1, Note 1(Under) and Note 2?
Why don’t you provide PRN salaries with a note 2 or note 3
How can an average salary be higher than the salary range?
What are AS and NA?
Why the price increase?
Why the discount and penalty?
Do you take credit cards?
Why don’t you sell to third parties?
Why a Metro Area Hospital survey?
How is the questionnaire used?
What do you do with completed surveys once results are mailed?
Why do you send results certified return receipt from the United States Post Office?
How we handle a mistake?
Does your report comply with the Sherman Anti-Trust act?

 Who are we and what do we do.
Nicholas, Regan & Ross develops and conducts salary and benefit surveys. We publish results each week for 2 separate state surveys (hospitals, and banks/credit unions). In addition, we conduct Hospital Metro Area Surveys in major metropolitan areas.
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 Why state surveys?
When we started in 1986, all of our competitors published annual surveys that provided nationwide results but were published approximately six months after the data was collected. Our competitors publish annual survey results in many different industries.

We decided to concentrate on state surveys within two industries. We publish results three weeks after the completed surveys are due. We breakout state data by number of beds (for hospitals and metro area hospitals) and assets (for banks and credit unions). In addition, we report state data by geographic areas within the state and by major cities. We provide a state average and in most instances, a state average without the highest paying city which skews the state average. Survey results also provide information on a regional and national basis for each position.

We did this because participants compete on a national level for certain positions and on a regional level for a greater number but on a state or local level for the majority of their positions.
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 Are participants names listed?
We list all participants names that want their name published. We would prefer to list all participants’ names but we learned in our first year that the majority of participants do not want their names used. We respect and follow their request.
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 When am I responsible for the invoice?
A participant is responsible for our invoice only when the participant completes and returns the survey to us to be included in the survey results.
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 Why Blended Bank and Credit Union Salary Results?
Salary information is blended combining Bank and Credit Union reported salaries by assets.

This is a result of

  1. past participant’s requests.
  2. very similar salaries between Banks and Credit Unions in many positions reflecting supply and demand for qualified employees.
  3. not all Banks and Credit Unions having all the positions included in the survey which limits reporting and conflicts with antitrust “safe harbor” guidelines with; either less than five participants reporting a position, or one participant having more than 25 % of the reported number of incumbents for that position.

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 Do you change reported salaries?
We change reported salaries in only two instances:

  1. If the average salary exceeds the maximum of the salary range, we verify that the average is over the range maximum with the participant and then only report the average salary in the results. If we published the range, it would distort/lower the weighted salary range.

    Example:
    Minimum - 40,000
    Midpoint - 45,000
    Maximum - 50,000
    Average - 52,486

    In this case, we would report only the average salary.

  2. If we do not believe that we are comparing apples to apples after talking with the participant, we do not include the range or average salary in our results.

 

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 What are Note 1, Note 1(Under), Note2, and Note 3?
Note 1 indicates that the average salary is higher than the weighted salary maximum and Note 1(Under) the average salary is lower than the weighted salary minimum.

Note 2 indicates that less than five participants reported a salary range or average salary for that position. We will not publish results that would allow another participant to determine competitor’s average salary or range; therefore, we report the line as a Note 2. Even though the line is listed as a Note 2, the salary information is still used in determining the state averages.

Note 3 indicates that one participant reported more than 25% of this statistic.
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 Why don’t you provide PRN salaries with a note 2 or note 3
To do so may violate antitrust requirements and so to eliminate any inference of a violation we do not include PRN salary with any Note 2 or Note 3
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 How can an average salary be higher than the salary range?
Many participants do not have ranges for senior management or executive positions and other participants do not have ranges for every position. Also, a number of participants do not stop merit increases at the range maximum for difficult to recruit/retain positions.
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 What are AS and NA?
AS are the adjacent states that touch the state we are reporting. In our hospital survey, we breakout adjacent states by the same bed size as the state we are reporting.

NA are the national averages for that position.

AS and NA are dated data. Since we conduct one survey per week in each industry, AS and NA are the accumulation of the survey data collected in the past year. AS data is usually no more than 4 or 5 weeks old.
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 Why the price increase?
Unfortunately, the cost of business increases each year. Our major expenses are payroll, programming, accounts receivable, postage and paper.
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 Why the discount and penalty?
Our accounts receivable have increased significantly in the past two years. In addition, the average number of days from the date of survey is published until we receive payment has increased to over 100 days.

We offer a 10% discount for payment within 30 days of ordering the survey for participants and a 10% penalty for late payment (any payment after the date the survey is published). The discount is to encourage early payment.
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 Do you take credit cards?
No. Credit card companies charge a % fee on each transaction in addition to other charges. We would have to pass that charge on to our participants and we strive to keep our participant charge as low as possible.
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 Why don’t you sell to third parties?
We do not sell results to third parties (individuals, consultants, unions, etc). The information a participant provided us is confidential and is not shared with anyone. We value the trust of our participants.
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 Why a Metro Area Hospital survey?
We were asked by participants in our state surveys to conduct a metro area survey six months after our annual state surveys. The reason for doing the survey was that the salaries for hard to recruit positions change in some instances drastically over the course of the year. The metro area difficult to recruit survey does not include benefit data.
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 How is the questionnaire used?
With each survey result we included a questionnaire. The purpose of the questionnaire is to help us improve by asking what positions, benefit, or compensation questions should be included or excluded. In addition, we receive requests as we talk to participants each day seeking answers to our questions. We change our surveys twice a year to reflect what participants or purchasers tell us on the questionnaire.
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 What do you do with completed surveys once results are mailed?
They are destroyed.
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 Why do you send results certified return receipt from the United States Post Office?
Survey results are sent certified return receipt so that there is a chain of custody and the results can be traced to make sure they get into proper hands. We have a responsibility to the field of participants to ensure results do not get into the wrong hands.
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 How we handle a mistake?
Obviously, we try hard to catch mistakes before reports are mailed to participants. Occasionally, we mail reports containing an error. Embarrassingly, these are quickly caught by our participants and pointed out.

When an error is reported, an analyst will review our worksheets and determine if an error has occurred. Sometimes this involves another call to a participant to verify an answer.

If an error has occurred, we correct the wrong answers and rerun the survey and send corrected copies out to all participants within two days of the time the error was reported to us.
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 Does your report comply with the Sherman Anti-Trust act?

Yes.
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