According to the latest Contractor Compensation Quarterly (CCQ) published by PAS, Inc., construction staff wages rose by 3.7% in 2017 and contractors are projecting wages to increase an average of 3.4% in 2018. The prediction is based on data gathered from 295 companies who participated in the 36th edition of PAS’s Construction/CM Staff Salary Survey. Though the projected 2018 increase is 3.5% for professionals & middle managers, it is pointed out that historically predictions are usually about .5% low, so year-end 2018 is expected to exceed 2017’s 3.7% increase.
©PAS, Inc. and reprinted with permission
Readers are warned that it is challenging to analyze trends and interpret the resulting implications, noting that predictions last year were a little off. To give a broader picture, PAS dives deeper into the numbers gathered on base and variable pay as they each address a different need and together are important to any compensation program and the goals of companies. Companies are advised on the equal importance of each type of pay and not to put one over the other.
PAS offers AGC members a special discount on PAS products. For more information, contact PAS at (800) 553-4655 or visit www.pas1.com.
Jeff Robinson, president of PAS, Inc., is a regular sponsor and presenter at AGC's Construction HR and Training Professionals Conference.