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HPN Compensation Study 2024:

Participant Overview

April 2024

Host Reminder! Hit record before starting

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Study Overview

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Why a compensation study?

Here are the answers…what are the questions?

13%

46%

Average US wage growth for 2022 and 2023

(Statista)

Increase in median US home sale price (2020→2023)

(MotleyFool)

95%

Percentage of workers looking for or planning to look for a new job in 2024

(Monster.com)

We live in interesting times! Both members and employees are facing unique pressures in 2024. Our goal is to equip you with the best possible data related to compensation and benefits trends data heading into the coming year.

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Study Focus

The 2024 study will provide participating members with a deep understanding of compensation and benefits across the HPN network of peer organizations.

We have two big goals in this work…�

Support members with data they can leverage to refine/improve their compensation + benefits offerings to staff (and hopefully ↑ staff retention)�
Analyze trends for HPN members related to pay equity, housing affordability, and access to a living wage

Areas of Focus

Salary ranges by role

Pay equity and wage gaps (race + gender)

Benefits - health, retirement, time off, etc

Pay practices and policies

Current pay vs. local housing affordability

New for 2024 study→

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Who else will be in the study (hint - we need you!)

We are aiming for 40-60 participating HPN member orgs in the study, representing 8,000-10,000 employees across our network.

We anticipate offering “sub analysis” by organization type and region.

2022 cohort demographics

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Report Samples

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Pay Range and Pay Policy Insights

Pay range data for ~80-120 standardized roles (estimated) by:�

Org budget size
Region/location
Organization type

Pay policy reporting for: �

Base salary rates
Increases
Bonuses/variable
Cost-of-living
Program mgmt

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Benefits, Time Off, Retirement, and Other Policies

All trends data reported for members overall, and where possible, for each organizational category (eg. CDFIs vs. Developers)

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Cohort Analysis

Cohort Analysis Questions for 2024:

Holding other factors constant, do we observe relationships between employee pay and race or gender identity? �
Do HPN members pay a living wage to all staff? If not, do we observe trends by region, org type, size, or other factors?�
Do HPN members pay wages that are aligned with housing affordability thresholds by region? If not, what trends do we observe?

Note! No members will be individually identified in the final report, nor will any organization-specific findings be shared back with orgs unless requested by organizational leaders.

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Salary Assessor Tool

Dynamic tool (Excel) for you to easily compare your own staff against benchmark data from the study.

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Participation Requirements

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Data Collection (Late May/Early June)

Organizational Policy Survey� (~100 Questions in Qualtrics)	Staff Demographic Workbook (Excel Workbook - Data Entry)
What: Questions related to your organization’s demographics, compensation, benefits, and other policies� Who: Completed by Dir of Human Resources (or similar)� How Long: 60-90 minutes to gather information and complete (estimated)	What: Excel workbook, to be loaded with staff information + benchmark matches for all roles:� Who: Completed by Dir of Human Resources & HR Generalist (or similar)� How Long: 2 - 6 hours to gather staff information, match benchmark roles, enter data (dependent on org size)

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How we’ll support you

The amount of time required to complete the survey will depend on your organization’s size and how readily you have access to relevant data in your systems. We estimate approximately 4-10 hours for a “typical” organizational (100-200 FTE). �

To make this process as easy as possible, we will provide the following:

Intuitive Data Collection Tool

Weekly Office Hours

Data Planning Sheet (“Cheat Sheet”)

Email + 1:1 Support as Needed

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Timeline & Next Steps

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Timeline and Next Steps

April 2024	May	June	July	Aug	Sept	Oct

Member Signups

3. Data Collection Window

Data Analysis and Report Creation

Training

Feedback on Data Collection Tools

Member 1:1 Meetings w/ Thruline (optional)

Window opens: Monday, May 13th

Closes:

Friday, June 14th

Report Released & Member Training

Optional: Member Training Sessions

Optional: Individual Org Reports

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Next Steps for Members

Sign up as soon as possible (by May 8th at the latest) - we’ll share link after this meeting�
Encourage your colleagues to participate as well (more members = better report)�
(encouraged) - Share a list of all unique roles/job titles at your org with Thruline. Email to come - week of April 15th. �
(encourage) - Member Focus Group to give feedback on data tools + analysis questions. Week of April 22nd�
Plan for 4-10 hours to complete study materials btw May 13th and June 14th