Through surveys of more than 300 firms throughout the United States, the International Concrete Repair Institute (ICRI) has completed and released a first-of-its kind study of compensation levels in the concrete repair industry. Among the key findings in the study, which is available on-line, are:
- Overall median salary for project managers in the industry is approximately $85,000 US yearly;
- Median hourly wage for concrete repair project managers is approximately $50 US per hour; and
- Nearly 70 percent of companies surveyed gave an annual increase in 2017.
“In the industry of concrete repair, participating companies need ways to stay competitive in compensating existing employees and attracting new hires,” said Scott Harrison, senior associate of Construction Insight, Inc.
Harrison said the provides detailed information across all levels of employees relating to:
- Wages/total compensation – hourly/annual salary, overtime, bonuses, raises
- Insurance benefits – life, dental, vision, disability
- Vacation, holidays, sick leave, and personal leave
- Retirement plans
- Staff profiles – education level, years of experience
- Hiring trends
“This information will help companies stay competitive in this tough labor market with better knowledge of compensation changes and trends,“ Harrison said.
Among other highlights in the study:
- Nearly 50 percent of companies surveyed have increased total staffing in the past two years. Only 8 percent have decreased staff levels in that time; and
- Nearly 40 percent have steadily increased pay and 24 percent have increased use of bonus/incentive pay to retain/attract staff.
The 50-page report contains 13 pages of detailed data broken down by several categories such as region, company size, etc. It is available free to member and non-member companies that participated in the survey.
ICRI member companies can purchase the full report for $395, while it is available to non-member companies for $795.