Wednesday, October 31, 2012

Manufacturing Salaries

The composite highest-income practitioner reported in this field (salary plus cash bonus and/or cash profit-sharing) is the President "B" of a manufacturing firm (defined as a chief executive officer who has little or no financial interest in the firm). The firm manufactures automotive parts/accessories, food/beverage/tobacco products, chemical & allied products, or machinery & heavy equipment; has 1,000 or more employees; has a total annual revenue of $100,000,000 or more; and is headquartered in or near Denver/Colorado Springs, Houston, Memphis, Minneapolis/St. Paul, Modesto/Stockton, Dallas/Ft. Worth, Indianapolis, Boston, New York City, or Dayton, or outside a metropolitan area studied in Idaho. However, while the median President "B' has a total annual income of $214,966, the highest-income individuals reported are Presidents "A" (having a financial interest in the firm) and make well over $30,000,000.
Far toward the other end of the income spectrum, Assemblers "D" have a median income of $20,418. Sometimes earning under $14,600, the lowest-paid employees in this group are employed by firms that manufacture building materials; have $1 million to $4.99 million in total annual revenue; have 5,000 to 9,999 employees; and are located in or near Greensboro/Winston-Salem, Raleigh/Durham/Chapel Hill, Dallas/Ft. Worth, or Charlotte, or outside the metropolitan areas studied in Texas, North Carolina, or Florida.
These composites represent the briefest possible "boil-down" of the voluminous data provided regarding current salaries and cash bonuses and/or profit sharing, and numerous demographic variables provided by 343 firms on over 54,000 managerial, supervisory, sales, engineering, technical, clerical, and blue-collar employees in 187 benchmark jobs which resulted in the eight-volume survey report, Compensation in Manufacturing, 24th Edition - 2004, sponsored by the National Association of Manufacturers.
Copies of the entire eight-volume report are available for $1,250.00 from Abbott, Langer & Associates, Inc., Dept. ART, 548 First St., Crete, IL 60417 (telephone 708/672-4200; fax 708/672-4674; Also available is Compensation in Smaller Manufacturing Firms (under 250 employees) for $595.00. Each volume of both reports may be purchased separately. Also available is findpay-MFG04 (a computer program which permits the user to determine pay levels of each survey job on the basis of two or more variables simultaneously).
It would be an exercise in futility to attempt more than a superficial overview of the survey results in this summary. However, some overall data regarding compensation can be presented herein. In addition to the incomes of the benchmark jobs already discussed, the median total cash compensation nationally of some of the other jobs included in the survey report is:
Chief Legal Officers - $181,200
Vice Presidents of Manufacturing/Production - $135,375
Chief Marketing & Sales Executives - $133,835
Chief Corporate Financial Officers - $130,066
Vice Presidents of Manufacturing/Production Engineering - $112,274
Research & Development Managers - $90,377
Engineering Department Managers/Superintendents - $89,232
Chief Human Resources Executives - $80,849
Plant Managers/Superintendents - $78,595
Product/Brand Managers - $75,789
Design Managers - $74,347
Facilities Managers - $68,198
Cost Accounting Managers - $67,161
Sales Engineers - $67,000
Manufacturing Engineers - $66,477
Production Managers/Superintendents - $65,730
Quality Assurance/Control Managers - $64,890
Computer Programmers - $61,963
Purchasing Managers - $61,805
Warehouse Managers - $54,000
General Production Supervisors - $49,781
General Accountants - $48,725

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