APPA APPA Salary Salary Survey Survey Public Power Public Power Compared to Compared to IOUs and IOUs and Cooperatives Cooperatives March 2004 March 2004 Prepared by: Milliman USA 1301 Fifth Avenue, Suite 3800 Seattle, Washington 98101-2605 206-504-5545
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APPA Salary Survey Public Power Compared to IOUs and Cooperatives March 2004 APPA Salary Survey Public Power Compared to IOUs and Cooperatives March 2004.
3 Findings $5 to $50 million revenue APPA members tend to pay at or below average for all positions in the analysis. $51 to $300 million revenue APPA members tend to pay above average for lower level positions and progressively below average as positions become more senior. Other Bonus eligibility increases with the size of the organization Long-term incentive programs are virtually non-existent among the smaller organizations and only in place at one-third or less of larger organizations, depending on the position.
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APPA APPA Salary SurveySalary Survey
Public Power Public Power Compared to Compared to IOUs and IOUs and CooperativesCooperatives
March 2004March 2004
Prepared by:Milliman USA1301 Fifth Avenue, Suite 3800Seattle, Washington 98101-2605206-504-5545
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Survey Participants
Name State TypeRevenues
(000)#
CustomersBenefit
Cost/Payroll ServicesBangor Hydro-Electric Co ME IOU $128,025 107,000 45.5% Elec TransCity of Anoka, Electric Utility MN Coop $16,958 11,200 20.0% Sewer, Water, Elec DistDakota Electric Assn MN Coop $107,876 90,267 52.7% Elec DistEast Central Energy MN Coop $59,743 51,286 50.7% Elec DistEnergy United, EMC NC Coop $131,582 137,644 49.0% Elec DistFlathead Electric Coop, Inc. MT Coop $95,760 42,496 55.5% Elec DistGreen Mountain Power VT IOU $201,052 87,120 51.6% Elec Trans, Gen, DistHeartland Rural Electric Coop KS Coop $13,026 10,413 40.0% Elec Trans/DistLake Country Power MN Coop $40,486 44,516 26.0% Elec DistLee County Electric Coop Inc. FL Coop $215,273 157,900 40.2% Elec Trans/Dist, IPMedina Electric Coop Inc. TX Coop $32,102 25,202 51.0% Elec Trans, Gen, Dist, IPMid-Carolina Electric Coop, Inc. SC Coop $62,972 44,515 61.1% Elec DistMountain Electric Coop, Inc. TN Coop $37,653 30,560 57.0% Elec DistNorthern Lights, Inc. ID Coop $18,283 15,653 48.7% Elec Gen/DistPioneer Electric Coop, Inc. KS Coop $39,182 14,546 Elec DistRandolph Elec Membership Corp NC Coop $44,113 30,000 46.1% Elec DistRappahannock Electric Coop VA Coop $168,349 73,044 45.6% Elec DistSatilla REMC GA Coop $65,675 48,000 35.0% Elec DistUnitil Service Corp NH IOU $167,317 96,985 40.0% Elec Trans, Gas, Elec DistUpshur-Rural Electric Coop Corp TX Coop $45,000 40,000 45.0% Elec Dist
Median: $61,358 44,516 46.1%
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Findings$5 to $50 million revenue
APPA members tend to pay at or below average for all positions in the analysis.
$51 to $300 million revenue
APPA members tend to pay above average for lower level positions and progressively below average as positions become more senior.
Other
Bonus eligibility increases with the size of the organization
Long-term incentive programs are virtually non-existent among the smaller organizations and only in place at one-third or less of larger organizations, depending on the position.
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FindingsAPPA $5-$50 M vs. Coop/ IOU Market Average
Conclusions Cooperatives and investor-owned utilities already appear to
have established somewhat more aggressive compensation practices than their public counterparts.
Smaller public power utilities appear to be at greater risk in the competition for labor talent than do the larger organizations.
The use of short-term incentives is one approach to providing competitive total cash compensation levels, one which should be given serious consideration in establishing a competitive total pay program.
APPA members with over $50 million in revenue should seriously evaluate their incentive programs given the findings of this survey that bonuses are used by over half of the coops and IOUs.
The relative infrequency of use of long-term incentives may provide APPA members with an opportunity to lead the market by using this type of compensation vehicle.