FMI Corporation, the leading provider of management consulting, investment banking and people development services to the engineering and construction industry, is pleased to announce the publication of its 2016 Construction Professional Compensation Survey. The survey includes data from 97 companies representing over 48,000 employees across 57 positions within U.S. engineering and construction firms.
- Survey participation increased 14% from 2015 to 2016, which resulted in the most robust compensation dataset for field salaried professionals reported to date.
- Mechanical Electrical Plumbing (MEP) positions reported the largest year-over-year salary increases exceeding twice the national average.
- A majority (60%) of eligible incumbents received an annual bonus over $10,000.
Mike Rose, FMI’s Compensation, Manager of Data Services states, “Business is brisk and markets are tightening. As these trends continue, the decline in the construction labor force is having an impact in areas where skilled worker shortages are now prevalent. Understanding market pay trends allows leaders to plan more accurately for the future and adapt to important developments that are fundamentally reshaping the industry.”
FMI is in its 21st year of providing critical market compensation data to the engineering and construction industry. Deep knowledge of labor market data and industry trends is a fundamental building block of an effective pay policy—the very cornerstone of a good human capital investment approach. This information is critical for today’s leaders to drive organizational success and long-term employee performance.