Manufacturing salary survey shows increase in 2003: the 2003 National Executive Compensation Survey shows nearly all positions in manufacturing enjoyed increases in salary and total compensation compared with the previous year.With the industry rebounding from the recent economic downturn Downturn The transition point between a rising, expanding economy to a falling, contracting one. downturn A decline in security prices or economic activity following a period of rising or stable prices or activity. , a salary Survey shows many manufacturers and metalcasters now are able to notice the benefits in their paychecks. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the 2004 National Executive Compensation Survey, median salaries for nearly all positions in the manufacturing sector were up in 2003 compared to 2002. AFS A distributed file system for large, widely dispersed Unix and Windows networks from Transarc Corporation, now part of IBM. It is noted for its ease of administration and expandability and stems from Carnegie-Mellon's Andrew File System. AFS - Andrew File System partnered with the Management Assn. of Illinois Illinois, river, United States Illinois, river, 273 mi (439 km) long, formed by the confluence of the Des Plaines and Kankakee rivers, NE Ill., and flowing SW to the Mississippi at Grafton, Ill. It is an important commercial and recreational waterway. to offer the survey, which includes 1,544 participating organizations across all areas of manufacturing representing data for 10,451 executives in 33 different positions. Data in the survey is distinguished by sales volume, type of industry (manufacturing and service organizations, and public and private organizations), stock ownership, benefits and prerequisites. The data then is further broken down for public firms by region. The average salary and total compensation for 2003 as well as the median salaries for 2002 and 2003 are given in Table 1. According to the survey, only four positions analyzed an·a·lyze tr.v. an·a·lyzed, an·a·lyz·ing, an·a·lyz·es 1. To examine methodically by separating into parts and studying their interrelations. 2. Chemistry To make a chemical analysis of. 3. saw a decrease in median salary from 2002 to 2003. Government affairs executives were the most notable, as median salaries dropped from $86,500 in 2002 to $65,000 in 2003 (a 25% decrease). Assistant human resources The fancy word for "people." The human resources department within an organization, years ago known as the "personnel department," manages the administrative aspects of the employees. executives, advertising/sales promotion managers and product/brand managers also experienced a slight decline. At the top level, chief executive officers across the nation enjoyed a 3.7% increase compared to 2002, and chief operating officers Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. saw a 4.2% increase. The median salary for a CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. in 2003 was $192,000, up from $185,000 in 2002. COOs went from $142,100 in 2002 to $148,100 in 2003. Staff legal counsels saw the biggest increase, jumping from $140,300 in 2002 to $163,700 in 2003, a 16.6% increase. Product development engineers (10% increase), regional sales managers sales manager n → gerente m/f de ventas sales manager n → directeur commercial sales manager sale n → (9.9% increase) and purchasing heads (7.7% increase) also saw modest gains. Table 2 shows the median salary, and Table 3 shows the total compensation for selected positions of a public firm in the survey's median sales volume ($27 million-$54 million) broken down by region. According to the survey, a CEO of a public manufacturing firm in the median sales volume analyzed had a median salary of $212,000 and a total compensation of $241,800. Those in the South had the highest median salary ($205,000) and total compensation ($250,000). Nationally, a CEO of a private firm with a sales volume of $3 million-$6.9 million had a median salary of $150,000 and a total compensation of $165,000. In the survey, manufacturing managers/plant managers of a public firm falling in the median sales volume enjoyed a median salary of $77,300 and a total compensation of $78,400. Salaries ($88,000) and total compensation ($93,500) were highest in the South. For a private firm with a sales volume of $3 million-$6.9 million, manufacturing managers/plant managers across the country had a median salary of $62,400 and a total compensation of $63,800. A facility engineer at a public firm in the median sales volume analyzed had a median salary of $70,000 and total compensation of $76,200. Salaries were highest in the Midwest Midwest or Middle West, region of the United States centered on the western Great Lakes and the upper-middle Mississippi valley. It is a somewhat imprecise term that has been applied to the northern section of the land between the Appalachians ($71,800), as was total compensation ($73,400). Facility engineers in the U.S. at private firms with a sales volume of $3 million-$6.9 million had a median salary of $74,600 and a total compensation of $76,700. The National Executive Compensation Survey, replaces the annual AFS Salary Survey. For more information on the survey, visit the Human Resources link at www.afsinc.org or contact the AFS Customer Service Dept. at 800/537-4237. |
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