PAS Contractor Compensation Quarterly, The Marcum Edition Second Quarter 2023

PAS Contractor Compensation Quarterly

The Marcum Edition - Second Quarter 2023

2022 Actual and 2023 Forecast

Based on our survey data, contractors are projecting 2023 construction staff wages to increase an average of 4.42% (excludes 0% projections), reported by over 360 companies in this 41st edition of the Construction / Construction Management Staff Salary Survey. 2023 staff pay predictions are increasing each month and will exceed 5% by fall. For pay increase comparison - according to WorldatWork, across all industries exempt
professionals saw 2022 increases of 4.2% with initial projected 2023 increases of 4.2%. For construction, WorldatWork reported a 4.1% increase in 2022 and a very early projection of 4.1% for 2023.