The Investment Industry Association of Canada (IIAC) is launching the latest edition of its industry compensation survey, which will canvass firms both big and small.
The industry trade group announced that the survey, which focuses on non-advisory positions, will launch on July 22. It will be conducted alongside compensation consulting firm 3rd Quartile.
“Our objective is to provide participating IIAC members with data to aid their development of compensation plans that are in line with industry trends, and to ascertain the competitiveness of their compensation policies vis-à-vis other dealers,” the group said.
“Survey results provide useful information to attract, support and retain employees in a highly competitive environment and should be part of every firm’s overall HR and organizational plan,” it added.
The group previously carried out similar exercises in 2012 and 2017, which aimed to provide smaller firms with data on industry compensation practices, enabling them to benchmark their own compensation plans against other firms in the industry.
In response to industry feedback, the upcoming survey will include large and medium-sized firms too, with the aim of making it representative of the entire industry.
“We encourage full participation to ensure the survey results reflect the industry,” the IIAC said.
The results of the survey will be distributed to firms that participate in the survey by the week of Sept. 23.
“Specific responses will be kept anonymous and only aggregated data will be shared,” the IIAC noted.