The recent economic boost has given employers the opportunity to invest in their workforce and take actionable measures to correct pay inequities to remain competitive, finds Randstad US.
Using proprietary Randstad data and information provided by Economic Research Institute, Randstad US has released its 2018 Salary Guides. Updated annually, the Salary Guides provide job seekers with insight into how their compensation might compare with others in their field and geographic region and are a resource for employers to assess their pay rates against competitors. Continuing the trend seen over the past 2 years, this year’s analysis reveals that salaries have risen an average of 3% across many fields and industries.
This is great news for workers, but it puts pressure on employers, many of whom are finding that aligning pay with the overall market is no longer enough to attract top talent.
“Paying employees a competitive salary has never been more important than it is today,” said Jim Link, chief human resources officer at Randstad North America—in a press release. “Organizations benefiting from the recently reduced corporate tax rate should take advantage and look to invest in their workforce since today’s tight labor market means employers risk losing both current and prospective talent if they don’t pay according to job seekers’ expectations.”
Randstad’s Salary Guides include pay ranges for common job titles or positions within engineering, finance and accounting, clinical and nonclinical healthcare, Human Resources, information technology, life sciences, manufacturing and logistics, and office and administration.
A sample of what you’ll find in Randstad’s 2018 Salary Guides includes:
- Industry: Engineering
- Position: Validation Engineer—$125,233 annually
- Location: Northeast
- Experience: Senior-level
- Industry: Finance and Accounting
- Position: Financial Analysts—$65,015 to $75,090 annually
- Location: Baltimore, MD
- Experience: Large company
- Industry: Healthcare
- Position: Medical Assistant—$21.52/hour
- Location: Midwest
- Experience: Expert-level
- Industry: Nonclinical Healthcare
- Position: Medical Receptionists—$14.51 to $17.71/hour
- Location: Houston, TX
- Experience: 5 years of experience
- Industry: Human Resources
- Position: HR Generalist—$65,616 to $87,472 annually
- Location: New York, NY
- Experience: Professional services industry
- Industry: Information Technology
- Position: Machine Learning Engineer—$114,722 annually
- Location: Atlanta, GA
- Experience: Mid-level
- Industry: Life Sciences
- Position: Drug Safety Associates—$125,000 annually
- Location: Chicago, IL
- Experience: Average mid-range salary
- Industry: Manufacturing and Logistics
- Position: Maintenance Mechanics—$25.70 to $29.97/hour
- Location: Ontario/Riverside, CA
- Experience: 6 years of experience
- Industry: Office and Administration
- Position: Executive Assistants—$30.82 to $38.57/hour
- Location: Miami, FL
- Experience: 7 years of experience
About Randstad’s Salary Guides
Every year, Randstad US publishes its Salary Guides highlighting compensation information across many fields and industries in key geographic markets.
Salaries in specific regions may vary based upon local market conditions and position-specific requirements, such as experience levels, professional certifications, or knowledge of certain software. In addition, the salary data has been drawn from multiple industries and may not accurately portray a company’s specific situation.
The salary data is a combination of proprietary Randstad information and data provided by Economic Research Institute (ERI), a widely known resource of robust job competency, cost-of-living, executive compensation and salary surveys. For more information, click here.