Index remains stable
The Plant Engineering Cost Index (PECI) edged up by just 0.1% in February, marking the fourth consecutive month that the Index stayed in the 149-150 range.
The Plant Engineering Cost Index (PECI) edged up by just 0.1% in February, marking the fourth consecutive month that the Index stayed in the 149-150 range. Plant operating costs are nearly 2% higher than a year ago, and costs appear to be on a steady, but mild, incline since the third quarter of 1996. Some equipment components with noticeable changes are costs of wire and cable (nonferrous), dropping 1.1% in February, which is down 4.4 % from year-earlier level; and metal costs down 6.4% from a year ago.
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2012 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.