-
- News
- Books
Featured Books
- smt007 Magazine
Latest Issues
Current IssueComing to Terms With AI
In this issue, we examine the profound effect artificial intelligence and machine learning are having on manufacturing and business processes. We follow technology, innovation, and money as automation becomes the new key indicator of growth in our industry.
Box Build
One trend is to add box build and final assembly to your product offering. In this issue, we explore the opportunities and risks of adding system assembly to your service portfolio.
IPC APEX EXPO 2024 Pre-show
This month’s issue devotes its pages to a comprehensive preview of the IPC APEX EXPO 2024 event. Whether your role is technical or business, if you're new-to-the-industry or seasoned veteran, you'll find value throughout this program.
- Articles
- Columns
Search Console
- Links
- Events
||| MENU - smt007 Magazine
IPC: Slight Upturn in Salary Increases in Electronics Assembly Industry for 2016
January 21, 2016 | IPCEstimated reading time: 2 minutes
IPC’s recently published biennial wage and salary study for the electronics assembly industry shows a nominal upturn in salary increases from 2015 to 2016. Reporting on data from 162 U.S. and Canadian EMS and OEM facilities, IPC’s 2015 Wage Rate & Salary Study for the North American Electronics Assembly Industry is a valuable tool for electronics assembly companies to gauge the competitiveness of their compensation, benefits and policies in competing for the best talent in the industry.
The study’s findings show that in 2015, participating companies’ organizational wage and salary budgets increased at an average rate of 2.5 percent for hourly employees and 2.0 percent for salaried and management employees. Their projected increases for 2016 are just slightly above last year’s increases.
Results of the survey presents averages, average ranges, and percentile data on 2015 hourly wages, annual salaries and sales compensation in the United States and Canada. Data on 31 positions are segmented by industry segment, region and company size. Salary budget growth in 2015 and estimates for 2016 are included. Sales compensation data covers base salaries, commissions, bonuses and total compensation, as well as compensation of independent manufacturers' representatives. Data on current HR policies cover hiring, performance appraisal, shifts, paid leave, team activities and other topics. Coverage of employee benefits includes several types of retirement plans, profit-sharing, stock ownership, various types of health insurance plans, life insurance, coverage of dependents, company contributions to insurance premiums, and tuition assistance.
Benefit costs in 2015 averaged 19.4 percent of total wages. Most of the companies that participated in the survey provide retirement benefits to their employees. In 2015, 401k plans were offered by 70 percent of those companies. The study also shows that reporting companies pay more than half of their employees’ medical insurance premiums, on average. In addition, more than half of the reporting companies offer employees paid leave in the form of personal time off (PTO) plans.
Page 1 of 2
Suggested Items
SPEA Expands in Southeast Asia with New Subsidiary in Thailand
05/17/2024 | SPEASPEA, a global leader in automatic test equipment for the manufacturing of semiconductor, microelectronic and electronic devices, today announced the opening of its new subsidiary in Thailand. This expansion marks a significant step forward in SPEA's commitment to serving the growing Southeast Asian microchip and electronics market with leading-edge manufacturing machinery and equipment.
Indium Corporation to Showcase Sustainable Solutions for Power Electronics at PCIM
05/17/2024 | Indium CorporationAs one of the leading materials providers to the power electronics assembly industry, Indium Corporation® will proudly showcase a selection of innovative products at PCIM Europe, June 11-13, in Nuremberg, Germany.
Siemens, Foxconn Team Up to Optimize Forward-thinking Manufacturing
05/16/2024 | FoxconnSiemens AG, a leading technology company, and Hon Hai Technology Group (Foxconn), the world’s largest electronics manufacturer, have signed a memorandum of understanding (MoU) to drive digital transformation and sustainability in smart manufacturing platforms.
IPC Releases May 2024 Global Sentiment of the Electronics Supply Chain Report
05/16/2024 | IPCSentiment among electronics manufacturers fell this month, after hitting a new high in April. Despite the decline, sentiment remains historically high according to IPC’s May Sentiment of the Global Electronics Manufacturing Supply Chain Report.
Sypris Reports Q1 2024 Results; Revenue Up 10%
05/15/2024 | Sypris Solutions Inc.The Company’s first quarter 2024 consolidated revenue increased 10.1% to $35.6 million compared with the prior-year quarter, representing the 11th quarter of double-digit year-over-year growth during the past 12 quarterly periods.