Machinery Lubrication magazine published by Noria Corporation
Issue link: https://www.e-digitaleditions.com/i/1171112
16 | September - October 2019 | www . machinerylubrication.com After several years of stagnant wages, Machinery Lubrication's annual salary survey saw an increase of nearly 15 percent in the average compen- sation rate for lubrication professionals when compared to 2018, with the average income rising by more than $10,000. e online survey, which collects responses from readers based in the United States, also marked the largest percentage of participants receiving raises in nine years of results. Optimism remains high for next year as well, as 74 percent expect their salary to rise in 2020. Even with overall wages increasing, more lubrication professionals are putting in fewer hours than in the past, with 78 percent working just 40-49 hours each week, representing a 13 percent decrease from fi ve years ago. Surprisingly, tenure did not correspond to higher compensa- tion levels, as those who have worked for their current employer for less than fi ve years made more on average than those with longer tenures. However, the level of education did impact salaries in a major way, with those who have a bachelor's degree taking home more than $25,000 more per year on average than those with only a high-school diploma. is may help explain why the number of respondents who have earned at least a bachelor's degree has increased by 21 percent since 2018. Location was another key factor in compensation rates. In the Southwest, lubrication professionals were paid the highest salaries at nearly $105,000 on average per year, while those in the Midwest had the lowest wages, averaging just more than $81,000 annually. Age also appeared to play a signifi cant role in income, with younger workers generally earning less than older workers until about age 60. e pay gap between men and women seemed to widen in 2019, as men reported an average income of $92,962, while the women's average salary was just $68,044. Still, the number of survey participants who believe they are fairly compensated rose by 15 percent from 2018, although overall job satisfaction declined, with more dissatisfi ed and fewer "very satisfi ed" responses. e percentage of workers who feel their job is secure also dropped over the past two years. Among the companies taking part in this year's survey included Compass Minerals, Graphic Packaging International and PetroChoice. Machinery Lubrication would like to thank everyone who participated. WHAT IS YOUR CURRENT ANNUAL SALARY? HAVE YOU RECEIVED A RAISE IN THE PAST YEAR? 13% 23% 31% 25% 8% $125K – $150K $100K – $124K $80K – $99K $60K – $79K $40K – $59K e highest reported salary was $150,000. e lowest was $46,000. is marked the highest percentage of raises in nine years. 84% 16%