FDIC Shops for Employees
THE Federal Deposit Insurance Corporation is on the prowl for people who like to solve problems, work long hours, and don't mind the low pay. The FDIC, the fund that insures deposits at commercial banks, is planning to expand its nationwide work force of 3,700. If Congress adopts the Bush plan to reorganize banking regulators, the FDIC will grow even larger since it would take over some of the functions of the Federal Savings & Loan Insurance Corporation. Even though plans are not yet firm, the FDIC is placing classified ads in newspapers. Last week it was looking for senior level ``supervisory liquidation specialists,'' who would get a salary of $41,112 to $74,303. Similar senior-level bank managers would make $110,000 plus a 15 to 20 percent bonus and stock options, says the Wyatt Company, a compensation specialist.
Robert Cittadino, regional manager of operations, admits the pay is tough when trying to attract candidates in New York, Los Angeles, and San Francisco. ``But in Midland, Texas, this is a pretty good salary,'' he says.