|Job Compensation Study Reveals Interesting Trends|
|by Troy Nix|
|Results Fall 2011|
Much like the housing market of yesteryear with the always anticipated three percent annual increase in property value, recent trends for compensation and wages have nearly followed that exact path. Wage freezes and compensation decreases during the time periods of late 2008 and throughout 2009 have created many perplexing trends in many different job functions.
To capture some of these very perplexing trends in salary trends, MAPP’s 2011 Wage and Salary study examined over 50 different job classifications from 170+ plastics industry related firms. These job classifications represent over 11,875 employees in the plastics industry, with survey participation growing by 30 percent over the 2009 report. From a demographic standpoint, the majority of survey participants represented firms between $5M - $15M in annual sales revenue, and the most predominate processes represented were injection molding followed by extrusion.
Compensation Overview: As a continuation from the 2009 study, historical trend data has been logged on several job classifications. This historical salary trend data combines information over MAPP’s last four compensation studies showing total median salaries in the ‘average wage category” from 2003, 2007, 2009 and 2011. By examining several years with of data in one snap shot, it now is possible to measure wage progressions/digressions of specific job classifications. As an example, a general manager’s incremental salary increase over the last nine years was approximately 29 percent or an average annual net gain of about 3.22 percent. With this type of analysis, it became plainly obvious that some job functions have not kept pace with even the most conservative rates of inflation. From this data, one also may be able to recognize that a wide majority of plastics professionals continue to feel the impact of the wage freezes, or in some cases, wage cuts that occurred 18-36 months ago.
To purchase the full report, visit www.mappinc.com.