Simmons Bank
Simmons Bank Compensation & Benefits
This page summarizes recurring themes identified from responses generated by popular LLMs to common candidate questions about Simmons Bank and has not been reviewed or approved by Simmons Bank.
How are the compensation & benefits at Simmons Bank?
Strengths in healthcare, retirement support, and structured time off are accompanied by challenges in pay growth, incentive reliability, and benefit affordability. Together, these dynamics suggest a comprehensive package whose realized value varies by role, location, and branch conditions.
Key Insight for Candidates
Defining tradeoff: modest base pay and slow raises offset by unusually comprehensive benefits and retirement extras (HSA funding, 401(k) match plus periodic company contribution, ESPP, paid leave, even no‑cost clinic access). This suits candidates who prize stability and benefits value, less so those seeking rapid cash compensation growth.Evidence in Action
- Annual 2–5% Merit Raises — Annual merit increases of roughly 2–5% occur across many roles. This creates predictable but modest cash growth, and base pay can lag market moves without promotions or adjustments.
- 401(k) Match + Discretionary Contribution — The 401(k) match formula—100% on the first 3% plus 50% on the next 2% (max 4%)—and a 2.56% discretionary company contribution (2024) are part of the retirement program. This lifts total compensation and long‑term wealth, especially for contributors maximizing the match.
Positive Themes About Simmons Bank
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Healthcare Strength: Medical, dental and vision coverage are paired with an HSA that includes company funding. Dedicated care options and access to no‑cost services for covered members strengthen day‑to‑day healthcare support.
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Retirement Support: A 401(k) with employer match is complemented by an employee stock purchase plan and profit‑sharing eligibility. Occasional discretionary company contributions further boost long‑term savings potential.
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Leave & Time Off Breadth: A combined PTO bank and up to ten paid company holidays provide structured time away. Paid leave programs support coverage for key life events.
Considerations About Simmons Bank
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Stagnant Pay & Limited Progression: Annual increases are commonly characterized as modest, which can trail faster market movement. Progression and pay velocity in frontline roles are often viewed as slow relative to workload.
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High Benefits Costs: Health plans are at times described as higher‑deductible or costly for families. These out‑of‑pocket dynamics can dilute the perceived value of the overall package.
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Weak & Unreliable Incentives: Variable pay depends heavily on branch or team performance, and payouts are not assured. Incentive attainment can fluctuate with staffing levels and local volume.
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