According to the latest Contractor Compensation Quarterly (CCQ) published by PAS, Inc., construction executive staff wage increases came in at 5.5% for 2022 and are also projected to rise by an average 4.7% by 2023 year-end. Historically, executive staff predictions are about 0.5% low. However, 2022 projections compared to 2022 actual numbers did not follow this pattern (see below), so it is possible that actual increases will exceed the 5.2% forecast.
PAS reported on its most recent Vehicle Allowance and Practices Survey. The survey sought to answer questions around monthly allowances and common practices such as who receives a vehicle allowance versus a company vehicle, who is provided fuel cards, and whether maintenance and repair and oil change and tire replacement are provided. As with other surveys, demographics play an important part in interpreting the practices as results vary by company size, type of contractor, and type of construction performed. For example, the Executive Vice President position had an overall average of $909 but showed an average of $774 in firms under 100 million and $959 in companies over 100 million in revenue. Similarly, design/build contractors reported an average of $970 while mechanical contractors had an average of $763.
PAS also just finished the 2023 Construction/Construction Management Staff Salary Survey which indicated a 2022 actual pay increase of 5.13%. The overall projected 2023 increases came in at 4.42% for middle managers and professionals with most regions also at 4.4%. As with the executive increase numbers, 2023 anticipated numbers are expected to grow as the year progresses.
PAS offers AGC members a special AGC discount to access PAS products. For more information, contact PAS by phone at (800) 553-4655 or www.pas1.com. You can also find more information here.
Jeff Robinson, president of PAS, Inc., is a regular sponsor and presenter at AGC’s Construction HR and Training Professionals Conference.