Industry Compensation Survey Shows Growth: NACD's bi-annual survey released
ARLINGTON, Va., Sept. 6, 2013 /PRNewswire-USNewswire/ -- The results of the 2013 National Association of Chemical Distributors (NACD) Compensation and Benefits Survey has recently been released. This study, last conducted in 2011, collects data on 25 key salaried positions and 15 hourly positions. Average total compensation figures for salaried employees were up, as compared to published 2011 results, on all but two positions (Sales Representative and Freight Manager).
Across all jobs surveyed, the typical average compensation amount increased approximately 10% as compared to 2011. The highest increases in wages as compared to 2011 came from top executive level positions (CEO, Top Financial Officer, and Top Sales/Marketing Executive). Hourly positions also saw overall growth as compared to 2011 data. The typical position saw a total increase of approximately 5% over the two year period.
"The increase in compensation since 2001 shows slight improvement in the marketplace and demonstrates solid growth since 2011," commented NACD Interim President Kurt McMillan. "NACD members provide good paying jobs and benefits on par with the industry standard, keeping them competitive in a very competitive industry."
Other noteworthy highlights include:
- Healthcare costs – Total healthcare costs as a percent of total compensation dropped from 13.1% in 2011 to 11.0% in 2013. Additionally, the percent increase in healthcare costs from the prior year was only 7.3% based on the 2013 results as compared to 16.9% which was published in 2011.
- Retirement – Nearly 95% of respondents offer a retirement plan to employees. Of those who do offer a plan, 94% offer a 401(k) plan with 80% of those offering 401(k) matching contributions.
NACD and its over 400 member companies are vital to the chemical supply chain providing products to over 750,000 end users. They make a delivery every eight seconds while maintaining a safety record that is more than twice as good as all manufacturing combined. NACD members are leaders in health, safety, security, and environmental performance through implementation of Responsible Distribution, established in 1991 as a condition of membership and a third-party verified management practice. For additional information on our members, their safety record or NACD, visit NACD at www.nacd.com.
Contact: Lucinda Schofer
SOURCE National Association of Chemical Distributors (NACD)
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