The 70th Edition of the Benchmark Compensation Survey is Now Available!
In July 1947, MSEC conducted its first survey collecting wage data for 30 positions from Senior Accountant and Draftsman to Stenographer and Mimeograph Operator. Seventy years later, MSEC’s 2017 Benchmark Compensation Survey collected base wages for 415 positions across 10 distinct job families. The survey has also expanded from its original geographic area of Metro Denver and now comprises employers in Arizona, Colorado, Utah, and Wyoming.
In addition to base salary, we also collected the following data for the 415 positions:
- Annual Incentive – Participants were asked to provide annual incentives for the past fiscal/calendar year. Data reported are average incentives paid and number of employees receiving an incentive.
- Target % Incentive – Participants were asked to provide targeted percentage figures for additional compensation (not earned income) for the current year.
- Exemption Status – Participants were asked to identify their matched position as exempt or nonexempt.
New positions in this year’s survey are Social Media Manager and Design Engineer.
The general information section reports data for 2016 pay increases, 2017 and 2018 projected pay increases, historical tracking of projected increases versus actual increases, average hiring rates, ratio of human resource employees to total employees, and HR service model.
When using survey data, it is important to know the demographics of organizations who participated in the survey. Are the organizations who reported data in the survey similar in geographic location, industry type, and employment size to your organization? Following are several charts showing the 2017 participant analysis by geographic location, industry type, and employment size.
The chart below shows the various industry groups represented in the survey. The data include participants in all four geographic areas: Arizona, Colorado, Utah, and Wyoming.
The chart below shows the various employment sizes of organizations in the survey. The data include participants in all four geographic areas: Arizona, Colorado, Utah, and Wyoming.
Want to Know More?
Attend the annual Benchmark Compensation Survey Briefing Session! This is a FREE session featuring highlights from the 2017 Benchmark Compensation Survey. In addition, an economist will present a regionally specific and national economic overview at all locations. Register today for one of the following dates:
To register call 800.884.1328, email firstname.lastname@example.org, or go online at MSEC.org
To request a copy of the survey, please contact the MSEC Surveys Department. Copies of these resources are available to authorized employees of MSEC members. Call 800.884.1328, email email@example.com, or go online to MSEC.org.