2008 Wage Survey Shows More Than 30% Pay Increase
Product Announcement from North American Die Casting Association (NADCA)
Wheeling, IL, January 27, 2008 – Maintenance person's pay increases 36% in 2008 over 2007 according to statistics in the latest North American Die Casting Association (NADCA) 2008 Annual Wage & Fringe Benefits Survey. Other professions proved not so fortunate, such as CNC operators embracing a 34% decrease in wages.
The findings were based on an in-depth study of 37 domestic companies in the die casting industry and a comprehensive look at 13 different job classifications. The data in the survey includes comparisons of hourly wage earners, how employees are compensated, what benefits are received, as well as an analysis of how practices vary by company size and location. In addition, summaries regarding insurance rates and absenteeism have been incorporated.
"The data in this Wage & Fringe Benefits Survey reflects total pay, including overtime, and is indicative of the economic times the die casting industry is experiencing," said Daniel L. Twarog, NADCA's president. "More companies are paying to keep their older machines running, while time in the CNC area is decreasing."
In 2008, the median annual sales of the participating companies in the survey was $21.6 million per year; such die casters utilized 16 die casting machines, employed 118 full-time direct labor employees and 79 hourly production employees. This data reflects a sampling of the information that can be found in the 2008 Wage and Fringe Benefit survey.
To provide more flexibility in the analysis, the survey comes with a searchable CD-ROM containing a database of all surveyed participants and individual company data from 1999 to 2008. Search results may be saved and exported into a spreadsheet program for individual statistical analysis. To order a copy of item #852 visit www.diecasting.org/publications