Utilities are not the only industry where this is found
Kansas City, Kan. (PRWEB) December 13, 2006
Each year, ice storms turn public attention to utilities. The quality of their work affects lives everyday, so how utilities attract and retain qualified individuals can be crucial. According to the Compensation Data annual survey of more than 5,300 employers, salaries at utilities have largely stagnated over the last three years. However, the largest difference can be seen between positions.
Education and experience create a large disparity in the salaries paid within utilities. In 2006, electrical engineering managers with eight years of related work experience and a bachelors degree earned $99,148 on average. That’s 51.8 percent more than a senior-level, cable construction technician with one year of experience and a high school degree makes each year.
Within the field, experience and apprenticeships can make a significant difference in the salary paid. Linemen at the journeyman level who have three years of experience and have completed an apprenticeship earn $54,514 on average. In comparison, apprentice linemen make $42,381, which is 22.3 percent less than those with more experience.
"Utilities are not the only industry where this is found," said Amy Kaminski, manager of marketing programs for Compdata Surveys. "However, because salaries and pay increase budgets have virtually stayed the same for the last three years, employers will have to seek new ways to retain their best employees in what could soon be a tight market for skilled labor."
Employers can often retain top performers by increasing benefits packages in a number of ways. Utilities offer tuition reimbursement to 90.1 percent of technical employees, 90.9 percent of hourly and 91.7 percent of administrative. They also provide flexible schedules to 61.1 percent of technical or professional employees and to 58.4 percent of administrative workers. In addition, utilities offer some of the highest number of sick days to their full and part time employees.
Health insurance continues to cause employers and workers concern, and utilities are no exception. While most utilities offer health insurance, 32.2 percent of utilities have increased the employee portion of health insurance premiums to reduce costs. This could cause turnover in a tight market.
About the Survey
Compensation Data 2006 contains data on 532 job titles ranging from entry-level to top executives. Information was collected on more than 6.3 million employees across the country. The results provide a comprehensive summary of pay data, benefits information and pay practices with an effective date of March 1, 2006.
Compdata Surveys, http://www.compdatasurveys.com, is the nation’s leading compensation and benefits survey data provider. Data is collected annually from thousands of organizations across 37 states. Compdata Surveys has been providing accurate, reliable data at affordable prices to organizations from coast to coast since 1988. For further information about the compensation and benefits surveys, contact Lane Lyons at (800) 300-9570.
This press release was distributed through eMediawire by Human Resources Marketer (HR Marketer: http://www.HRmarketer.com) on behalf of the company listed above.
For more information, contact:
llyons @ compdatasurveys.com