According to the latest Contractor Compensation Quarterly (CCQ) published by PAS, Inc., construction executive staff wage increases came in at 4.1% for 2018 and are projected to rise by an average 3.8% by 2019 year end. Though the projected 2019 increase is 3.8%, it is pointed out that historically executive staff predictions are low, so year-end 2019 increases might come in even as high as 4.3% to 4.5%.
Readers are advised that while contractors might grant and report an overall annual increase in the 4.1% range for example, there are other equity design changes going on behind the scenes generally not included in a simple increase schedule. PAS recommends that for companies to confirm that their compensation structures are competitive within the parameters of the industry, they should participate and utilize industry surveys to monitor one-on-one comparisons and trends.
Jeff Robinson, president of PAS, Inc., is a regular sponsor and presenter at AGC's Construction HR and Training Professionals Conference.