I work for a small engineering and surveying firm. The last couple of
years have been tough due to a variety of reasons and no bonuses have
been paid to anyone. This year is starting out much better and the potential
for a yearend bonus seems much more likely to occur.
Regarding bonus amounts, is there an industry standard for bonuses paid
as a percent of salary? Is there an industry standard for bonus paid by
various classification of staff level within firms?
BH – CO
I’m not aware of any particular standards, but I can offer you the
following. According to a 2003 survey conducted by Wind2 Software, Ft
Collins, CO, discretionary distributions reported by the sub-group of
80 engineering firms who participated in the 2003 survey worked out to
an average (mean) of 5.43% of total firm revenue. The survey did not break
down this percentage by staff classification however.
For detailed salary and benefit information you can purchase comprehensive
surveys from either ZwiegWhite (www.zweigwhite.com)
or PSMJ (www.psmj.com). Both companies
compile exhaustive surveys each year covering pay and benefit practices
by engineering and architectural firms.
Wahby & Associates © 2004 616-977-9756 firstname.lastname@example.org