HR, Medical, and Engineering Fields See the Highest Increases in Wages
Media Contact: Heather Nezich, Communications Manager, ASE, email@example.com, 248.223.8040
Livonia, Mich. ---May 24, 2018 --- The American Society of Employers (ASE), an employer association serving Michigan employers for 115 years, released the organization’s 2018 Compensation Survey results yesterday at its Compensation and Benefits Conference. It’s the 66th year that ASE has published the annual survey. The findings were released by Mary E. Corrado, president and CEO of ASE.
“Despite historically low unemployment rates, we have yet to see the broad-based wage increases we were anticipating. This trend may signal that employers have shed their reliance on base pay as the sole mechanism to attract and retain talent. It may also signal that the Great Recessions continues to cast a long shadow over employers,” stated Corrado. “However, despite the muted wage growth, the truth may be in the details. A deeper analysis of the data does highlight pockets of wage growth where workforce dynamics like employee turnover and a lack of qualified talent may have lifted salaries for some.”
2018 Survey Demographic
A total of 354 companies, 56.4% of them located in the metro Detroit region, responded to the survey, which was distributed to human resource professionals via an online survey in January 2018. Nearly 60% of the respondents are classified as non-automotive suppliers, and 476 jobs were reported on. 82.5% of the organizations that responded have 1-500 employees.
2018 ASE compensation survey highlights:
· Average merit increases for all job families is projected to be slightly below 3% at 2.93% for 2018.
· Organizations offering variable or incentive pay showed a slight decline to 81% in 2018 compared to 84% in 2017.
· Several fields witnessed average wage increases of 3.5% and higher, with Human Resources at 3.9%, Engineering Support at 3.87%, Medical at 3.75%, and Design/Drafting at 3.5%.
· Entry and Lead/Sr. engineering roles’ average wage increases (3.7%) are growing at a faster rate than middle level roles (2.1%).
· The Information Systems job family has seen a 13.8% increase in wage growth over the past five years.
· Emerging jobs include Data Architect at $114,658 annual salary, Statistician at $89,345, Data Analyst, Sr. at $91,303, and Data Analyst at $54,241.
For more information and to download the survey infographic, click here. To obtain a copy of the 2018 Compensation Survey, contact Kevin Marrs, Vice President at ASE, 248-223-8025 or firstname.lastname@example.org.
About the American Society of Employers (ASE) – a Centennial Organization
The American Society of Employers (ASE) is a not-for-profit trade association providing people-management information and services to Michigan employers. Since 1902, member organizations have relied on ASE to be their single, cost-effective source for information and support, helping to grow their bottom line by enhancing the effectiveness of their people. Learn more about ASE at www.aseonline.org.