12iw• March 2014 • industryweek.coM creation of two Midwestern manufacturing hubs. The pos iti ve new s, how eve r , is tem per ed by exa ctl y the opposite. Sharp Manufacturing, for example, confirmed to the Knoxville News Sentinel in late January that it wou ld lay off mor e than 300 wor ker s as it end s sola r panel production in Memphis. One salary survey respondent, a plant/facilities manager in the plastics and rubber in- dustry, shared this: “Our facility is currently slated to close at the end of 2014. We were bought by an equity group that decided we had too much capacity within the corporation.” An d as for res hori ng, “I hav en ’t seen mu ch of it, ” writ es a manufacturing/production manager in the paper/print- ing/publishing industry and living in the Middle Atlantic region. TTl tDtU.S . manufacturing managers earned an average salar y of $111,480, according to the 2014 IW Salary Survey. That’s up f rom $103,613 i n the previo us year’ s survey and the second consecutive year in which the average has breached the $100,000 level. Many managers received raises. Fully 71% of respon- dents reported a boost in their base salary compared with the previous year, while less than 3% said their salary has declined. Among the latter group is an R&D/product development manager in the transportation equipment and vehicles industry who reports, “I never got back sal- ary reductions from five years ago.” Some 62% of survey respondents reported receiving a bonus. The average bonus among the 600 or so manag- ers who provided a flat figure rather than a percentage was $ 29,99 1. That comp ares wit h $25, 000 in last year’ s report. And like last year, bonuses varied wildly, from less than $1,000 to several hundred thousand. Of course, salaries varied wildl y as well. While the average salary among all respondents is $111,480, the story is much different once you begin digging into the data by demographics. For example, manu- facturing management in the chemicals industry topped earners across all industry verticals, making an average base wage of $131,154. Managers in the consumer goods/durables industry, by contrast, earn L et’s cut right to the chase. For most manufacturing management, the news is good on the pay front, accordin g to the 2014 IWSalary Sur- vey. S al ar ie s fo r U.S. ma nuf act ur ing management are up over the previous year, and, more often than not, pay raises are part of compensation packages. In short, the upward trajectory of salaries demon- strated in the 2013 IW Salary S urvey continues in the current inquiry. The pay increase s are riding what has been goo d econo mic news for many. The manufacturing industry as a whole grew in 11 of the 12 months of 2013 and ex- panded again in January 2014, according to the Institute for Supply Management. M oreover, the overall economy grew for the 56th consecutive month, the ISM said. Even more, the profile of U.S . manufacturing has been raised by the buzz of reshoring and such news as the recent announcement by Presiden t Obama about the Salaries continue their upward trajectory as pay increases were the norm rather than the exception. What manufacturers really want, though, is challenging work. By Jill Jusko 2014 iwSlSPay GeTS a B 2014 iw Sl SGs Dg t l Gl.ndstk.cm/scs/sl-sfl 2014 slsvbllg vglbgf f, lg g. aiw lll, llvp. F, mf gbfm mfg pflp pv.
This document is posted to help you gain knowledge. Please leave a comment to let me know what you think about it! Share it to your friends and learn new things together.
Transcript
8/12/2019 2014 Salary Survey
http://slidepdf.com/reader/full/2014-salary-survey 1/512 iw • March 2014 • industryweek.coM
creation of two Midwestern manufacturing hubs. The positive news, however, is tempered by exac
opposite. Sharp Manufacturing, for example, confito the Knoxville News Sentinel in late January t would lay off more than 300 workers as it ends solarproduction in Memphis. One salary survey respona plant/facilities manager in the plastics and rubbdustry, shared this: “Our facility is currently slatclose at the end of 2014. We were bought by an egroup that decided we had too much capacity withicorporation.”
And as for reshoring, “I haven’t seen much of it,” a manufacturing/production manager in the paper/ping/publishing industry and living in the Middle Atlregion.
T T l t D tU.S. manufacturing managers earned an average
of $111,480, according to the 2014 IW Salary Su That’s up from $103,613 in the previous year’s s
and the second consecutive year in which the averabreached the $100,000 level.Many managers received raises. Fully 71% of re
dents reported a boost in their base salary comparedthe previous year, while less than 3% said their saladeclined. Among the latter group is an R&D/prodevelopment manager in the transportation equipmand vehicles industry who reports, “I never got bacary reductions from five years ago.”
Some 62% of survey respondents reported receibonus. The average bonus among the 600 or so maers who provided a flat figure rather than a perce was $29,991. That compares with $25,000 in last
report. And like last year, bonuses varied wildly, frothan $1,000 to several hundred thousand.Of course, salaries varied wildly as well. Whi
average salary among all respondents is $111the story is much different once you begin diginto the data by demographics. For example, mfacturing management in the chemicals indutopped earners across all industry verticals, man average base wage of $131,154. Managers consumer goods/durables industry, by contrast,
Let’s cut right to the chase. For mostmanufacturing management, the newsis good on the pay front, according tothe 2014 I W Salary Sur- vey. Salaries for U.S. manufacturing
management are up over the previous year, and, moreoften than not, pay raises are part of compensationpackages.
In short, the upward trajectory of salaries demon-strated in the 2013 IW Salary Survey continues in thecurrent inquiry.
The pay increases are riding what has been goodeconomic news for many. The manufacturing industryas a whole grew in 11 of the 12 months of 2013 and ex-panded again in January 2014, according to the Institutefor Supply Management. Moreover, the overall economygrew for the 56th consecutive month, the ISM said.
Even more, the profile of U.S. manufacturing has beenraised by the buzz of reshoring and such news as therecent announcement by President Obama about the
Salaries continue their upwardtrajectory as pay increases were thenorm rather than the exception.What manufacturers really want,though, is challenging work.
By Jill Jusko
2014 iw S l S
Pay GeTS a B
2014 iw S l
S G s D g t lG l . nd st k.c m/ s c s/s l -s f l 2014 s l s v bl l g v g
a more modest base wage at $95,012.Expectedly, age and experience are major factors
in pay as well. At the low end, managers between theages of 21 and 29—which comprised just 2% of thesurvey population—earn an average salary of $69,026; while management at the other end of the spectrum—age 60 or greater—earn $121,206. Similarly, nearly$50,000 separates the average salaries of manufactur-ing management with just one to two years in manu-facturing from those with 26 years or more.
T C ll ng nd S t s ct n M n ct ng
Brian is a 26-year-old lean leader with a de-gree in industrial engineering and about five yearsin manufacturing. He works in the fluid controlsindustry and says he is among the few peoplehe graduated with “who ended up in a field they wanted with decent pay.” Moreover, he can envisionmanufacturing as his long-term career.
“The work we do is important,” he says of manufac-turing. “I think the U.S. as a nation needs to producetangible things.”
oST No BiG SurPriSeS
Average Salary by Job Responsibility Position (% of response) Salary
It’s not a new story but perhaps it is the manufacturing stor well told: Manufacturing professionals like their careers, achallenge manufacturing presents is a big reason why. Indeed87% of survey respondents said they were satisfied with maturing as a career path, with 42% identifying themselves asatisfied.”
A smaller but still significant percentage—76%—added th were satisfied in their current job, with slightly more than a qidentifying themselves as “very satisfied.”
Manufacturers express these satisfaction levels despite sa laundry list of concerns about their industry that includemany government regulations, a shortage of incoming talenoffshoring.
“Manufacturing is one of the best jobs to experience the thchallenges every day. It covers every aspect of new productneering, processes, customers, vendors, and most of all, the h
element,” writes an operations manager in the industrial machindustry with 26-plus years of experience, living in the M Atlantic region and earning $100,000.
“I like what I do, and I make good money doing it,” sayOsborne, owner of Certified Color Corp., which produces
exPerieNCe MaTTerS Average Salary by ExperienceYears in manufacturing (% of response) Salary
i f p v mp . P v f f b . —Supply chain/logistics manager in the automotive/trans-
portation vehicles & equipment industrywith 21 to 25 years of experience, living
in the South Atlantic region and earning$70,000
i f l i m ll mp f m j b.c g pp b p
f p g f mp m mp m . o mp
p m m , b l pp f p l q p-
m j ’ . 2013
b g .—Human resources man-ager in the industrial machinery industrywith 11 to 15 years of experience, livingin the North Central region and earning$115,000
s 13 g . h v v p p f
l v g. t 8% p 10 g .e g g g l b . n
.—R&D product developmentmanager in the aerospace and defenseindustry with 26-plus years of experience,living in the Middle Atlantic region andearning $82,000
t q l f m ( mg i f , m i )
ll mp m . i l m mm l , b i ll j
i m i’m . —Lean/continuo
improvement manager in the metals indus-try with 21 to 25 years of experience, livingin the Pacific region and earning $101,000
i l gl l p m l flb l , p l m v
l .—Plant/ facilities manager in the apparel/textilesindustry, living in the North Central regionand earning $65,000
whaT MaTTerS MoST To you aBouTyour joB?
(% of response)
Job Stability 20%
Base Salary 15%
Recognition of Your Importance to Company 10%
Career Advancement Opportunities 10%
Company's Recognition of the Importanceof Manufacturing Operations
6%
Benefits 5%
Flexible Schedule 5%
Relationships with Co-Workers 4%
Challenging/Interesting Work 20%
Other 4%
Wa t e r C o o l e r — f r o m p g . 2 3
2014 iw S l S
14 iw • March 2014 • industryweek.coM
8/12/2019 2014 Salary Survey
http://slidepdf.com/reader/full/2014-salary-survey 4/5industryweek.coM • March 2014 • iw 1
for schools and the movie industry. He is located in southern Cali-fornia and has been in manufacturing for more than 45 years.
Osborne purchased the company in 2005 and did so at an age when many people would be looking toward retirement. Workethic explains some of that, he says, but he also simply enjoys run-ning daily operations and the people interaction. His company alsois about to introduce a new innovation, he says.
Which brings us back to career satisfaction. Why are so manymanufacturing professionals satisfied with their career choice? Theresponse to another survey question may help answer this question.Fully 20% of survey respondents told I W that havingchallenging and interesting work to do is what matters most to themin their job. That percentage ties “challenging work” with “job stabil-ity” as the top-rated factors that matter most to respondents in their jobs—and beats out base salary, which came in third at 15%.
“The challenges of work are what make it exciting to come to work every day. Seeing the results of good teamwork, commitmentand a well-crafted plan make it rewarding,” says a supply-chain/logistics manager in the aerospace and defense industry with morethan 20 years of experience and earning $104,000.
A director of manufacturing and production in the woodproducts/furniture industry with 26-plus years in manufactur-ing shares similar sentiments: “I am an individual that is drivenby accomplishment, not financial reward.”
Nevertheless, U.S. manufacturing remains a disappearing ca-
Discover the full global composites value chain from materials producers to end-users.See every final application sector, from design to mass production.Expand your business horizons, meet new partners, learn about the latest incomposites innovations.Techtextil North America and Texprocess Americas join the JEC Group to bring this3-in-1 international event to American composites stakeholders.
Georgia World Congress Center: May 13•14• 15• 2014
www.JECcompositesamericas-exhibitor.com
JEC Group brings the worldwide composites industryto Atlanta in a new mega event.
JEC Europe- Paris • JEC Americas-Atlanta • JEC Americas- Boston • JEC Asia - Singapore
More SChooLiNG, BeTTer PayHighest Education Level Attained(% of response) Salary
High School (4%) $80,890
Some College (12%) $83,412
Two-Year Degree (7%) $89,084
Four-Year Bachelor’s Degree (32%) $105,037
Some Graduate Study (15%) $122,119
Master's Degree (27%) $133,257
Doctorate (2%) $147,196
MajoriTy See SaLary GrowThChange in Base SalaryFrom One Year Ago(% of response)
2014Survey
2013Survey
2012Survey
Decreased more than 5% 1% 3% 1%
Decreased 3%-5% <1% 1% 1%
Decreased 1%-3% 1% 1% 1%
No change 27% 28% 31%Increased 1%-3% 39% 35% 34%
Increased 3%-5% 22% 21% 22%
Increased more than 5% 10% 11% 10%
8/12/2019 2014 Salary Survey
http://slidepdf.com/reader/full/2014-salary-survey 5/518 iw • March 2014 • industryweek.coM
reer path in the minds of many. Listen to Brian, the young intrial engineer who works in the North Central region at a mfacturing company that employs a large numbers of worker
When Brian shared with others the news that he had tained a position in manufacturing, “they were shockedthere is still manufacturing [in the region] and [by] the num
that are employed in manufacturing,” he says.■
MaNufaCTuriNG: a SaTiSfyiNG CareerHow satisfied are youwith manufacturing asa career path? (% of
response)
2014 2013 2012
Very satisfied 42% 40% 35%
Satisfied 45% 45% 49%
Neither satisfiednor unsatisfied
10% 11% 12%
Unsatisfied 2% 3% 3%
Very unsatisfied <1% 1% 1%
joB ProviDeS SaTiSfaCTioNHow satisfied are youwith your current job?(% of response)