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.
Case Study Database
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Annual Salary Survey
In a year when manufacturing continued to lead the economic rebound, it makes sense that plant manager bonuses rebounded. Plant Engineering’s annual Salary Survey shows both wages and bonuses rose in 2012 after a retreat the year before.
Average salary across all job titles for plant floor management rose 3.5% to $95,446, and bonus compensation jumped to $15,162, a 4.2% increase from the 2010 level and double the 2011 total, which showed a sharp drop in bonus.