Salary budgets are rising, says new IPC salary study
Expanding salary budgets for North American electronics assembly companies are among the findings of a new study published by IPC this week. The 2017 Wage Rate & Salary Study for the North American Electronics Assembly Industry is now available for purchase.
Average growth in salary budgets in 2017 and 2018 for the 49 contract electronics manufacturers and OEMs that contributed data to the study was a full percentage point higher than average pay increases in both years, indicating an expanding workforce. The report also covers spending on benefits, health insurance and training.
The report presents averages, average ranges and percentile data on 2017 hourly wages, annual salaries and sales compensation. Data on 40 positions are segmented by region and company size. Sales compensation data covers base salaries, commissions and bonuses, as well as compensation of independent manufacturers’ representatives.
Data on current HR policies cover hiring, performance appraisal, shifts, paid leave, team activities and other topics. Coverage of employee benefits includes retirement plans, profit-sharing, stock ownership, health insurance plans, life insurance, coverage of dependents, company contributions to insurance premiums, and tuition assistance.
Electronics assembly companies in North America can use the data in the report to gauge the competitiveness of their compensation, benefits and policies. The findings can help companies compete for the best talent in the industry.
The report is available from IPC for $450 (IPC member price, single user) or $900 (nonmember price, single user). For more information or to purchase the report, visit www.ipc.org/WageSalary2017.