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Economic Chatter and Salary Survey Trends 2008

Economic Chatter and Salary Trends 2008
Economic Chatter and Salary Trends
Economic Chatter
from the Recruiters at automationtechies.com
We thought you would be interested to hear the chatter we’ve been hearing while filling client positions from coast to coast. Salaries have trended up in 2008 as you can read in the second part of this article below; apparently good news despite a sluggish economy. We have not been able to identify a particular region of the country with more job openings but new openings in several industries. Food and beverage and biotech/pharma industries are probably the best direction to head, as they are  fairly solid regardless of the economy. Other new industries such as solar panels and wind turbines look promising. We recruiters can help you highlight your controls and automation experiences to translate into those industries.  Controls Engineers with 2 to 5 years experience and hands-on PLC/HMI are in demand everywhere. Also MES candidates and Process Controls engineers with petrochem and chemical experience are in big demand.
Relocation is a definite issue in 2008 due to the poor housing market, which makes it very difficult for candidates to sell their houses.  If you want to relocate, you should target large companies who could possibly offer you a larger relocation package.  You should also talk to a realtor long before starting to look for a new job; we’ve seen many last minute offer rejections due to the inability to sell.
Signing bonuses are definitely on the rise.  We have had more signing bonuses in the past year than ever before.   There are few times in your career when you can request a bonus, you should take advantage of the opportunity or ask your recruiter for advice.
Salary Trends
from Rick Zabel, Vice President, Publisher of Automation.com
 
...here are just a few interesting observations from this year's survey. Please note that these results are based on 898 U.S. responses only.
 
Great news! In one year, the average overall annual salary jumped from $83,623 to $88,252...roughly a 5.5% increase since 2007. I've always said that with the skills shortage in our industry, automation professionals will be in higher demand and, as a result, they will be able to command higher salaries. This is proof of that trend.
 
It pays to obtain an advanced degree (or even attend some graduate school)...those with an advanced degree have a $11,566 higher annual salary ($101,332) than those with a bachelor's degree ($89,766). This salary difference increased by more than $1500 since last year.
 
The highest paying job function was Engineering Management at $112,118. General or Operations Management was next in line at $106,900, followed by Outside Sales at $103,060. It pays to be in management! And as you might expect the next highest salary was associated with all those hard working outside sales guys.
 
The highest paid degrees were Chemical Engineering at $106,500 followed by Mechanical Engineering at $98,085.
 
Guess which region within the U.S. demands the highest salary. If you guessed Southern California, you're WRONG. The entire Southwest region takes the cake this year with an average salary $101,199. The Pacific Northwest region came in second at $96,211, with Southern California coming in third at $93,424.
 
Independent contractors (7.1% of respondents) are bringing in an average of $100,000 per year compared to the $87,464 salary of direct employees...that's more than a $12,536 difference.
 
Professionals working for very small companies (fewer than 30 people) are paid higher than those working for companies with 30 to 49 people, or those working for companies with 250 to 499. But otherwise, the larger the company, the higher the compensation.
 
 
If you are interested in comparing 2008 salary results with 2007 salary results, view 2007 Salary Results here.
 
If you have any comments or questions regarding our 2008 survey or results, please don't hesitate to contact Rick.
 



    

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