Study outlines businesses' compensation
A survey of compensation for executives of building contractors in upstate New York was released last week by Bonadio Group, a company that provides business services.
The study focused on the challenge of recruiting and retaining construction executives and managers despite the decline in home building.
More than three dozen companies participated. They were in Rochester, Buffalo and Syracuse. All are private companies, with over half of them family-owned.
Key findings include:
• Three-quarters of them have been in business more than 15 years
• Of the general contractors, half have annual revenues of less than $26 million
• Of the specialty contractors, 69 percent have annual revenues of less than 26 million
• 8 percent of all companies say their employee levels are expected to decrease
• 46 percent will maintain employment levels
• 46 percent will increase employees
The survey showed that the average annual compensation (salary and bonus) for presidents and owners ranged from $425,000 for firms with annual revenues under $26 million and up to $490,000 in compensation at companies making more.
Chief financial officers make $180,000 to $200,000 on average, including bonus.
The complete study and comparative compensation levels can be seen online at www.bonadio.com.