06 Apr Jeff Wittenberg, Kaye/Bassman Managing Director, Featured in Engineering News Record
FOR IMMEDIATE RELEASE:
Jeff Wittenberg, Kaye/Bassman Managing Director, Featured in Engineering News Record, Construction Exec Pay Rose 4.2% in 2019, a Big Yearly Gain
By: Bruce Buckley
Plano, TX | 4/6/2020
Construction executives continue to make strong annual gains in compensation, particularly those willing to sign on with new employers. On average, executive base salaries rose by 4.2% in 2019, says data from compensation specialist Personnel Administration Services Inc. Although that level is relatively high compared to historical PAS data, the rate of increase has remained steady in recent years. Last year’s hike marked the third year in a row of base salary escalation above 4%. Since 2013, annual base salary hikes have not tallied below 3.8%.
Jeff Wittenberg, managing director of construction at executive search firm Kaye/Bassman, agrees that high-level job candidates know they can’t rely on projected bonuses. “Too many people have been burned by that,” he adds. With a higher expectation on guaranteed income, Wittenberg says executives expect a minimum 10% increase in base salary to move to a new company.