New Manufacturing Compensation Report Released
Manufacturing is still riding a resurgent wave, with strong demand for top performers and potentially millions of jobs to fill in the next decade. Manufacturers interested in gaining a competitive edge are building compensation packages that attract and retain the very best.
SME surveyed nearly 700 manufacturing workers — both hourly and salary employees — taking a comprehensive look at salaries, bonuses and other compensation across multiple sectors, gender, education and regions. The report also looks at job satisfaction and upcoming hiring plans.
Among the findings:
- HOURLY COMPENSATION: Averaged more than $64,000 per year (base pay, bonus/commission and dividends/stock options/profit sharing).
- SALARIED COMPENSATION: Averaged nearly $112,000 per year.
- EMPLOYEE RAISES: 68 percent of hourly workers and 73 percent of salary workers reported a wage increase in the last year.
- JOB SATISFACTION: 67 percent are satisfied or very satisfied with their current employment.
- STRONG HIRING: Nearly three-quarters of respondents report that their company is likely or very likely to hire additional employees.
Click the button below to download your copy of the report.