Human capital: Mercer issues compensation module for manufacturing industry
Mercer , a global provider of consulting, outsourcing, and investment services for helping clients solve complex benefit and human capital issues, has released its Manufacturing module of the 2008 US Mercer Benchmark Database , which provides an overview of pay levels, trends, and practices for jobs in the manufacturing industry.
The Manufacturing module includes responses from more than 730 organizations reporting on compensation for more than 80,390 employees in 202 positions. The positions range from top-level executives to assemblers and technicians.
According to the findings, 2008 median total cash compensation (base pay plus short-term incentives) for top corporate manufacturing executive is $256,000. The median total cash compensation for some of the other highly populated positions in the module is as follows:
• Engineering Manager: $114,500
• Plant Manager (single facility): $138,000
• Production Manager: $80,700
• Maintenance Supervisor: $66,600
• Senior Machine Operator: $39,800
The US Mercer Benchmark Database consists of 13 modules with positions in 16 functional areas, including administration, communication, corporate affairs, customer service, engineering, knowledge management, finance, human resources, information technology, manufacturing, marketing, quality, research and development, sales, supply and logistics, and top management. For each position, the database provides statistical summaries for base salary, short-term incentives, total cash compensation, pay ranges, and short- and long-term incentive eligibility and valuation.
The modules of the database are available individually or as a single, cross-functional database. Contact Mercer to learn more or call 800 333 3070.
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Annual Salary Survey
Before the calendar turned, 2016 already had the makings of a pivotal year for manufacturing, and for the world.
There were the big events for the year, including the United States as Partner Country at Hannover Messe in April and the 2016 International Manufacturing Technology Show in Chicago in September. There's also the matter of the U.S. presidential elections in November, which promise to shape policy in manufacturing for years to come.
But the year started with global economic turmoil, as a slowdown in Chinese manufacturing triggered a worldwide stock hiccup that sent values plummeting. The continued plunge in world oil prices has resulted in a slowdown in exploration and, by extension, the manufacture of exploration equipment.
Read more: 2015 Salary Survey