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“Management participation allows us to provide the most comprehensive compensation survey in the industry, and offers metalworking executives a resource to design a competitive package for shop floor employees,” said Gerald Shankel, president and chief executive officer of FMA.
The 2007 study, sponsored by FMA and the Tube & Pipe Association International (TPA), will report hourly wages for more than 80 shop floor job titles and hundreds of positions. A benefits section will include vacation policies, medical insurance coverage, profit sharing and retirement plans, shift differentials, and overtime scales.
Major metal fabricating technologies covered in the study include stamping and pressworking, roll forming, plate and structural, coil and toll processing, precision sheet metal fabrication, and tube and pipe producing and fabricating. Data is sorted by geographic region, population, company size, sales volume, and union representation. Wages reported include high, low, and average hourly rates.
“Companies can compare their pay rates and compensation policies with those of other employers by region, company size, and company sales volume,” noted Shankel.
The full report will be available in the third quarter of this year. The deadline for submissions is Aug. 6; all data are held in the strictest confidence, the association said.
For more information, visit www.fmanet.org.
Publication date: 06/11/2007