According to the latest Contractor Compensation Quarterly (CCQ) published by PAS, Inc., contractors are projecting 2024 construction staff wages to increase an average of 4.38%, as reported by over 360 companies in the 42st edition of the Construction / Construction Management Staff Salary Survey. Typically, projected increases are .3% to .5% higher by year end, so there is a good chance that pay will hit 4.7% or more this year. For pay increase comparison - according to WorldatWork, across all industries, exempt professionals saw 2023 increases of 4.5% with initial projected 2024 increases of 4.1%.
Jeff Robinson with PAS will be presenting again this year at the AGC Construction HR & Workforce Conference in November on the most recent compensation practices and trends in the industry. The conference will again focus on the intersection of HR and workforce development in our industry. The program will feature a multi-track educational program that includes sessions focused on HR practices, while others will highlight workforce development strategies. Some sessions will cover both!
Sign up for free PAS CCQ here. PAS offers AGC members a special AGC discount to access PAS products. For more information, contact PAS by phone at (800) 553-4655 or www.pas1.com. You can also find more information here (you must be signed in with your AGC of America profile to access).
Jeff Robinson, president of PAS, Inc., is a regular sponsor and presenter at AGC's Construction HR and Workforce Conference.