2022 Actual and 2023 Forecast
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 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.
