Surveys reveal wage, salary increases.Inside This Story: * Employee wages and benefits have increased since last year. * Executive compensation packages reflect a rebounding economy in the U.S. manufacturing sector. * Two AFS-sponsored surveys detailing trends in wages, benefits and salaries and compensation in metalcasting and manufacturing firms are discussed in this article. A rebounding economy has helped many metalcasting firms begin to recover from the slump Slump A temporary fall in performance, often describing consistently falling security prices for several weeks or months. of the early 2000s, and some of that recovery is seen in the increased wages for employees. But businesses must find a way to maintain a competitive casting price and retain customers while rewarding and recruiting its valuable workers. 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 annually offers two surveys that give a range of salaries and wages for metalcasting employees. The AFS Survey of Wages and Economic Benefits and the National Executive Compensation Survey allow firms to benchmark A performance test of hardware and/or software. There are various programs that very accurately test the raw power of a single machine, the interaction in a single client/server system (one server/multiple clients) and the transactions per second in a transaction processing system. their compensation packages with other similar metalcasting and manufacturing companies. The data in the surveys reveals trends in compensation and benefits that could direct your company to a different compensation outlook or reaffirm re·af·firm tr.v. re·af·firmed, re·af·firm·ing, re·af·firms To affirm or assert again. re your company's current compensation plan. Both surveys show an increase in wages and benefits for most employees, from the metalcasting laborers working on the floor to manufacturing executives. Further data regarding salaries and compensation are revealed in this article as well as trends in insurance, hiring wages and average executive salaries by region. Survey of Wages and Economic Benefits The Survey of Wages and Economic Benefits provides data for 28 job classifications within the metalcasting industry. Reports from 168 U.S. metalcasting facilities representing 21,466 employees and 15 Canadian Canadian (kənā`dēən), river, 906 mi (1,458 km) long, rising in NE New Mexico. and flowing E across N Texas and central Oklahoma into the Arkansas River in E Oklahoma. firms with 1,053 employees were used in developing the 2005 report. The survey covers 20 labor market labor market A place where labor is exchanged for wages; an LM is defined by geography, education and technical expertise, occupation, licensure or certification requirements, and job experience areas and reveals complete breakdowns for union and non-union metalcasting facilities and four metalcasting groups based on the type of metal poured. The study's data also is divided into five separate categories based on company size--20 or fewer employees, 21 to 50 employees, 51 to 100 employees, 101 to 250 employees and 251 or more employees. The sampling of job classifications shown in Table 1 reflects modest increases, ranging from 1.5% for pourers to 10.6% for automatic mold mold, name for certain multicellular organisms of the various classes of the kingdom Fungi, characteristically having bodies composed of a cottony mycelium. The colors of molds are caused by the spores, which are borne on the mycelium. machine operators. The positions of shell mold and/or and/or conj. Used to indicate that either or both of the items connected by it are involved. Usage Note: And/or is widely used in legal and business writing. shell coremaker and rough grinder Grinder A slang term for a person who works in the investment industry and makes small amounts of money at a time on small investments, over and over again. Notes: showed slight decreases compared to last year. Nationally, the minimum hiring rate ranges from $6.00 to $15.65, with an average of $9.58. The average hourly earnings were $14.05. Of the 164 companies responding, only 12 continue to offer an annual cost of living increase. Additionally, 27% of the respondents In the context of marketing research, a representative sample drawn from a larger population of people from whom information is collected and used to develop or confirm marketing strategy. provided health care benefits through an HMO HMO health maintenance organization. HMO n. A corporation that is financed by insurance premiums and has member physicians and professional staff who provide curative and preventive medicine within certain financial, insurance plan while 68% offered a PPO PPO abbr. preferred provider organization PPO Managed care Preferred provider organization, see there Infectious disease Pleuropneumonia-like organism, see there plan. The remaining respondents offered a combination of the two or are self-insured self-insured Self fund Health insurance adjective Referring to the practice of carrying an individual health insurance policy for oneself; self insurance is usually more expensive than group insurance . The survey also tabulated responses to questions regarding holidays and vacations, retirement plans, life insurance, sick leave and pay differentials per shift. National Executive Compensation AFS 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. , Downers Grove Downers Grove, village (1990 pop. 46,858), Du Page co., NE Ill.; settled 1832, inc. 1873. Downers Grove has undergone population growth and commercial development that include the construction of new office complexes. , Ill. to offer the National Executive Compensation Survey, which is conducted annually in cooperation with 20 other employer associations This is a list of employer associations and other business organizations. Austria
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. . Data in this survey is broken down by sales volume, type of industry (manufacturing and service organizations and public and private organizations), benefits, perquisites Fringe benefits or other incidental profits or benefits accompanying an office or position. The abbreviation perks is used in reference to extraordinary benefits afforded to business executives, such as country club memberships or the free use of automobiles. and stock ownership. Table 2 lists the 2004 average salary, median salary and the average total compensation for each job category in the public and private sector of manufacturing based on sales volume from up to more than $1 billion. This data is based on nationwide earnings and includes all sales volume breakouts. Average total compensation refers to the sum of all cash compensation including base salary, annual bonus and other cash compensation provided to those positions listed. Additional perquisites that may have been figured in to the total compensation package include automobile automobile, self-propelled vehicle used for travel on land. The term is commonly applied to a four-wheeled vehicle designed to carry two to six passengers and a limited amount of cargo, as contrasted with a truck, which is designed primarily for the transportation of allowances, additional deferred compensation, special insurances, stock options, retirement plans, etc. Median salaries for 2003 also are listed to allow comparisons to the prior year. 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 survey results, seven positions saw a decrease in median salary from 2003 to 2004, including staff legal counsel, purchasing head, product development engineer, regional sales manager sales manager n → gerente m/f de ventas sales manager n → directeur commercial sales manager sale n → , and facility engineer. At the top level, manufacturing executive officers enjoyed increases, with international executives averaging increases of 18.2%. Most notable was the 75% increase experienced by government affairs executives, showing a median salary increase from $65,000 to $113,700. Other notable salary increases included a 17.6% increase for industrial engineer heads, from a $72,500 median salary in 2003 to an $85,300 median salary in 2004. The position of general sales manager saw a 7.8% increase from 2003 to 2004, while engineering and research executives saw a 5.5% increase in median salary. Information from the national compensation survey should be used for baseline The horizontal line to which the bottoms of lowercase characters (without descenders) are aligned. See typeface. baseline - released version informational purposes only, as many factors can influence the national findings listed. The complete survey breaks this information down by region, manufacturing vs. service industry and sales volume. Table 3 provides a sample comparison of salaries and the variation by region. For More Information Visit www.afsinc.org/HR for additional information regarding the 2005 Survey of Wages and Economic Benefits or the National Executive Compensation Survey. "Manufacturing Salary Survey Shows Increase in 2003," MODERN CASTING Staff Report, Nov. 2004, p. 31-32. "Foundrymen See Slight Dip in Salaries in 2002," MODERN CASTING Staff Report, Nov. 2003, p. 47. $13.88 The average median rate paid in 2004 for furnace furnace, enclosed space for the burning of fuel. There are many kinds of furnaces, the type depending upon the fuel and the use to which the heat produced within it is put. Most familiar are the furnaces used in the heating of buildings. operators, according to the AFS Survey of Wages and Economic Benefits. [ILLUSTRATION OMITTED] $9.58 The average hiring wage for metalcasting laborers, according to AFS' Survey of Wages and Economic Benefits. Top 5 Highest-Paid Manufacturing Executive Positions (Based on Compensation) 1. 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. ($321,300) 2. COO (Cell Of Origin) See mobile positioning. ($223,000) 3. Staff legal counsel ($214,900) 4. Executive/multi-function ($188,100) 5. International executive ($173,200)
Table 1. Average and Median Hourly Earnings
Job classification Average Median Average
hourly rate hourly
earnings paid earnings
2003 2003 2004
Automatic mold machine operator 13.51 13.51 13.30
Shell mold and/or shell coremaker 12.33 12.12 12.31
Machine coremaker (blower) 12.91 12.92 13.08
Cupola or furnace operator 13.60 13.39 13.88
Melter, electric furnace 13.65 13.77 13.80
Pourer 12.94 13.06 13.06
Rough grinder 12.01 12.58 12.55
General laborer 11.48 11.46 11.59
Job classification Median % Change
rate median
paid hourly
2004 earnings
Automatic mold machine operator 14.95 10.6
Shell mold and/or shell coremaker 12.01 -0.009
Machine coremaker (blower) 13.61 5.3
Cupola or furnace operator 14.12 5.5
Melter, electric furnace 14.15 2.8
Pourer 13.25 1.5
Rough grinder 12.55 -0.002
General laborer 11.68 1.9
Table 2. Average Salary by Job Classification for All Manufacturing
Firms (in 000 dollars)
Job classification Average Median
salary salary
2004 2004
Chief executive officer 227.6 200.0
Chief operating officer 171.7 153.3
Executive/multi-function 146.8 135.0
Engineering/research executive 122.3 115.0
Manufacturing executive 120.9 114.8
Financial/accounting executive 128.3 120.8
Sales/marketing executive 130.7 124.9
International executive 134.3 130.0
Human resources executive 93.6 86.9
Staff legal counsel 171.7 161.8
Engineer 97.6 90.0
Controller 90.8 87.5
General sales manager 102.3 97.0
Manufacturing manager/plant manager 83.8 81.8
Director of materials 85.4 82.0
Purchasing head 73.4 67.9
Quality control head 80.7 76.0
Industrial engineer head 84.2 85.3
Asst. human resources executive 68.9 65.0
Compensation/benefits 88.2 70.0
Research engineer 103.5 89.5
Product development engineer 90.8 84.7
Advertising/sales promotion manager 74.4 68.8
District sales manager 68.6 62.2
Regional sales manager 81.4 80.0
Product/brand manager 83.8 81.4
Chief information officer 102.8 97.0
Facility engineer 70.7 68.1
Government affairs executive 158.9 113.7
Marketing executive (excluding sales) 123.7 119.2
Sales executive/domestic markets 130.9 126.3
Development executive (service industries) 94.3 90.0
Operations executive (non-manufacturing) 115.8 105.1
Supply chain management 99.5 99.3
Job classification Median % Change
salary median
2003 salary
from 2003
Chief executive officer 192.0 4.2
Chief operating officer 148.1 3.5
Executive/multi-function 125.5 7.6
Engineering/research executive 109.0 5.5
Manufacturing executive 109.2 5.1
Financial/accounting executive 116.7 3.5
Sales/marketing executive 122.0 2.4
International executive 110.0 18.2
Human resources executive 85.0 2.2
Staff legal counsel 163.7 -1.2
Engineer 87.2 3.2
Controller 93.0 5.4
General sales manager 90.0 7.8
Manufacturing manager/plant manager 79.2 3.3
Director of materials 78.5 4.5
Purchasing head 68.9 -1.5
Quality control head 75.0 1.3
Industrial engineer head 72.5 17.6
Asst. human resources executive 62.0 4.8
Compensation/benefits 64.0 9.4
Research engineer 88.9 0.1
Product development engineer 90.8 -7.2
Advertising/sales promotion manager 67.6 1.8
District sales manager 60.0 3.7
Regional sales manager 82.0 -2.5
Product/brand manager 79.7 2.1
Chief information officer 94.4 2.8
Facility engineer 70.5 -3.5
Government affairs executive 65.0 75.0
Marketing executive (excluding sales) 113.0 5.5
Sales executive/domestic markets 120.2 5.1
Development executive (service industries) 93.5 -3.9
Operations executive (non-manufacturing) 116.7 -11.0
Supply chain management NA NA
Job classification Average
total
compensation
Chief executive officer 321.3
Chief operating officer 223.0
Executive/multi-function 188.1
Engineering/research executive 143.9
Manufacturing executive 146.0
Financial/accounting executive 158.1
Sales/marketing executive 164.8
International executive 173.2
Human resources executive 108.6
Staff legal counsel 214.9
Engineer 108.2
Controller 102.2
General sales manager 119.9
Manufacturing manager/plant manager 93.5
Director of materials 93.9
Purchasing head 79.9
Quality control head 87.2
Industrial engineer head 90.3
Asst. human resources executive 73.7
Compensation/benefits 95.7
Research engineer 112.0
Product development engineer 102.9
Advertising/sales promotion manager 80.0
District sales manager 86.6
Regional sales manager 97.1
Product/brand manager 92.5
Chief information officer 116.4
Facility engineer 74.4
Government affairs executive 171.0
Marketing executive (excluding sales) 145.6
Sales executive/domestic markets 158.6
Development executive (service industries) 95.8
Operations executive (non-manufacturing) 140.3
Supply chain management 114.3
Table 3. Median Salaries by Region for Selected Positions (in 000
dollars)
Entire
Job classification U.S. Northeast Midwest
CEO 200.0 200.0 200.0
Manufacturing manager/plant manager 81.8 77.6 83.0
Facility engineer 68.1 67.5 70.5
General sales manager 87.0 100.0 96.6
Human resources executive 86.9 77.4 88.3
Job classification South West
CEO 231.9 198.3
Manufacturing manager/plant manager 81.7 76.8
Facility engineer 63.6 61.9
General sales manager 90.1 98.0
Human resources executive 112.0 84.3
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