HRA-NCA 2007 Compensation Survey Report Released
Washington Area Average Salary Increased 3.5% from 2006 to 2007
Security Clearance Pay Differential Reported
WASHINGTON, Sept. 11 /PRNewswire-USNewswire/ -- The Human Resource Association of the National Capital Area (HRA-NCA), the local chapter of the Society for Human Resource Management, released its 2007 Compensation Survey Report at Compensation 2007, a seminar held September 11 at 8:30 AM at the Capital Hilton Hotel. Speakers included: Lori Golino, President of HRA-NCA; Cara Carter, Compensation Consultant, Watson Wyatt; Brian Jackson, Compensation Analyst, National Association of Securities Dealers; Alan Chvotkin, Sr. Vice President and Counsel, Professional Services Council, the trade association representing the professional and technical services industry; Doug Lwin, Vice President of Human Resources, American Capital; and Angelo Kostopoulos, President, AKRON, Inc., the firm that administered the survey and compiled the survey report. 341 Washington, DC, area employers participated in the survey and provided compensation data for 320 jobs while reporting on 481,000 employees in every major industry in the Washington region. This is the 28th Annual HRA-NCA Survey and is widely viewed as the definitive source of human resource salary data and compensation practices in the greater Washington, DC, region. Highlights of the survey include: 1) From 2006 to 2007, the employees in the Washington area averaged increases in salary paid for all positions in the survey of 3.5%, while employers are budgeting 4.1% increases for the year for all positions. 2) Employee Total Turnover was reported at 19% in the DC region and voluntary turnover was 14%. 3) When reviewing the data by job type the largest increases were reported in accounting, finance and purchasing (12.7%); information technology (5.7%); computer operations and networks (10.3%) and building and facilities maintenance (12.0%). 4) The financial services industry reported the largest increase in compensation of any area industry -- up 16.3% from 2006. Associations reported the lowest aggregate increases at 0.2%. 5) The survey asked employers to report the level of security clearance (if any) that each incumbent held. Employers reported an actual pay differential of 15% for the top security clearance level. The survey reports are available for sale and further information can be found at http://www.hra-nca.org .
SOURCE Human Resource Association of the National Capital Area
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