Salary/Wage & Benefit Benchmarking

By Ember Seiler | June 16, 2016

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FMA’s annual Salary/Wage & Benefit Survey gives companies an opportunity to see how they benchmark against their peers in the areas of: salary, wage, and benefits specifically in the metal processing, forming, and fabricating industry.

FMA has been collecting data for this survey for 21 years. Last year’s results compiled data from 123 companies detailing employment practices, benefits packages, salaries, and wage for 8,558 employees in 67 positions for applicable technology sectors in the industry. Below is a snapshot of selected data for Punch Press Operators.

Salary/Wage

The study offers detailed looks at production and administrative positions including both hourly and salaried workers. See the job title list. Results are viewable by demographic criteria including: number of employees, region, population, and sales by volume – giving you the ability to match up to company data that is most similar to your operation.

Each year the survey is open electronically from mid-May until the end of July with companies from all over the U.S. and Canada participating. The compiled results will be available in the fall.

Debi Lusk, Director of Human Resources at Bystronic Inc., relates that “we’ve found the FMA Wage Survey to be extremely beneficial.  The data we gathered from the survey provided a snapshot of targeted wage data.  This effort created a window to view information outside of our organization and conduct a comparative analysis of our internal base wages.  Continuous participation in the annual survey will also afford the organization to analyze trends in total compensation strategies.  Well worth the time and effort!”

Want to learn more? Visit fmanet.org/surveys and review details from the 2015 survey. For questions, contact Ann Schneider at 815-227-8220. Or if you’re ready to participate, go to fmanet.org/swb16 to complete the questionnaire for your company.

Thank you to CNA  for its ongoing sponsorship of this survey.

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