2011 Salary Survey: Are Things Looking Up?

Pay raises and bonuses are on the rise, according to the results of Chemical Processing's 2011 Salary and Job Satisfaction Survey, although much else remains the same compared to last year's poll. An increasing number of chemical processing professionals say they received a salary increase this year. Last year, only 37% garnered a pay raise within the past 12 months. That number has now jumped to 56% (957), indicating the economy and the industry are on the mend (Figure 1).

But many respondents were quick to point out that the salary boost wasn't enough to make up for past pay cuts or wage freezes.

2011 Salary Survey Charts

• Pay Raises & Bonuses
• Job Security 
• Layoffs
• Job Satisfaction
• Challenges On The Job 
• Job Woes 
• Public Opinion

"We had a salary freeze in 2009, and for 2010, no effort was put into making up for that lost salary increase ...we got a paltry 2.5% this past year," grumbled one reader.

"Although raises were re-established at the beginning of 2011, this followed a year [with a] 7.5% pay cut, 401K match suspension, and [another] year of a salary freeze. The raises did not compensate for those past 2–3 years of lost compensation. The cost of benefits, meanwhile increased during that time," noted another respondent.

While salary increases provide a positive outlook, concerns about job security are split -- 51% said they aren't worried, while 49% voiced concern (Figure 2). These results are similar to last year's, although the concern was slightly higher then (52%). In addition, 49% report a slight chance they could be fired or laid off in the next two years and 23% indicate a moderate chance (Figure 3).

HOW MUCH DO CHEMICAL ENGINEERS MAKE?
In 2009, the average salary was $107,804, which declined for the first time last year to $97,554. For 2011, the average salary of full-time respondents climbed to $101,553. (Responses from those appearing to be unemployed, retired or working part-time were excluded from the salary calculation.)

In addition, the average pay raise was 4.34%, rising for the first time since 2009. In fact, 7.44%, of respondents received pay increases exceeding 10%. In comparison, only 3.64% had pay raises of 10% or higher in 2010.

Average bonuses also edged up to $6,102 compared with an average $5,835 in 2010.

While most readers (59%) believe they're adequately compensated, many expressed frustration that benefits are declining.

"Compensation is adequate, but I could do better by going to another company. [My current] company used the excuse of ObamaCare to more than double my health insurance premium," complained one reader.

"Benefits are very good, unfortunately the expectation is everything will be cut, particularly retirement benefits," echoed another.

"I currently feel fairly compensated, blessed and fortunate in this struggling economy.  However, the upcoming inflation and my not-terribly-distant retirement make me focus on maximizing my compensation as the economy struggles to recover," commented a respondent.

THE JOBS PICTURE
Approximately 26% (450) of respondents report staffing levels have increased in the past 12 months, compared to just 16% last year. However, 46% (794) note staff levels have not changed from 12 months ago.

How Much Do Chemical Engineers Make

Most respondents (91% or 1,545) say they work directly for an employer versus 9% (148) that work as contractors. In "Better Times Beckon for Contract Engineers," Chemical Processing reported contract engineering positions are on the rise. Of those working as contractors, 58% (90) report their positions had no fixed term. More than 22% (35) indicate their work would last over one year and 13% (21) said their contracts ran between six months and a year.