At the request of a number of our members, Study Groups is planning on conducting another Employee Compensation Survey in 2021 to measure compensation levels across many important firm positions. The world has changed since our last survey was conducted in the winter of 2018 using 2017 comparison data.
The input reporting form to participate will be disseminated in February 2021 and the deadline to submit will be April 16, 2021. The final report will be available for individual firm and study group use at the beginning of June.
The 2018 survey, which was very well received, detailed compensation for 60 job positions. Positions covered ranged from c-suite employees to office personnel, truck drivers, warehouse managers, and store employees. Over 125 companies participated, representing over 40,000 employees. We examined:
- A national average for each of the listed employment positions including base salary, various bonus/benefit information, and total compensation.
- A Cost-of-Living Index (COLI) adjustment for each firm to normalize salaries. This helped facilitate an apples-to-apples comparison between firms located in different parts of the country with different costs of living levels.
- Average compensation by quartile as sorted by a firm’s gross profit dollars and by employee count. This allowed firms to compare cost-of-living-adjusted compensation to other similarly sized firms.
- Average compensation by business mix allowing firms to compare compensation with lube heavy, retail heavy and wholesale heavy firms.
- PTO and company health insurance plan offerings comparisons.
Please respond to Shara Pagels (spagels@studygroups.com) if you would like to participate in 2021. Shara will be taking the lead on this substantial project. The cost to participate will be $350 per firm. We also encourage your entire Study Group to consider utilizing the survey as a special topic. If your group chooses to do so, we will create a unique report for your group that shows detailed cost-of-living-adjusted compensation for each firm along with the averages and quartiles. This group report could then serve as a basis of discussion at your group’s meeting.