The Contractor Compensation Quarterly (CCQ) is especially designed for the busy construction executive that needs to keep abreast of competitive compensation and benefit levels within the industry.
Based on our survey data, contractors are projecting 2024 construction staff wages to increase an average of 4.38% (excludes 0% projections), reported by 350 companies in this 42nd 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%.
Originally published 16 July 2024
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