According to the latest Contractor Compensation Quarterly (CCQ) published by PAS, Inc., construction executive staff wage increases came in at 3.8% for 2020 and are projected to rise by an average 3.4% in 2021. Though it is pointed out that historically executive staff predictions are low and readers are warned that it might not be until late in the second quarter that we get a better sense of true year end expectations.
PAS reports that they just finished their 2021 Construction/Construction Management Staff Salary Survey and that the results project a 3.2% increase for middle managers and professionals in the 2021, with only 4% indicating a pay freeze this year. The frequent correlation and spread between staff and executive increases leads PAS to expect the executive projected increase to grow as the year progresses and the number of firms freezing executive pay to reduce considerably. PAS also reminds readers that the most objective way for companies to confirm that their compensation structures are competitive within the parameters of the industry is to participate and utilize industry surveys.
PAS offers AGC members a special AGC discount to access PAS products. For more information, contact PAS by phone at (800) 553-4655 or www.pas1.com. You can also find more information here.
Jeff Robinson, president of PAS, Inc., is a regular sponsor and presenter at AGC's Construction HR and Training Professionals Conference.