flexiblefullpage
interstitial1
Currently Reading

2018 Wage & Benefits Study: Philadelphia

Advertisement
billboard
Financials

2018 Wage & Benefits Study: Philadelphia

We surveyed hundreds of design-build firms across nine of the country's most active remodeling markets, to finally answer the question: what is competitive pay? In Philadelphia, education didn’t translate into higher wages.


October 5, 2018

Compensation for production crews in Philadelphia are generally at, or ahead of, cost of living for the area. Interestingly, remodelers serving that market are more likely to offer commission to carpenters, with nearly 57% of respondents building it into their pay structure. Also notable was the relatively high number of responses for employees with less than two years’ experience—a much smaller group in most of the other markets. Ten percent of respondents in Philly also serve New York.

While it’s about 20% cheaper to live in Philly than New York, project managers there make only 8% less on average. This means that wages outpace expenses by a good margin. Carpenters are ahead as well, but by a smaller amount. Salaries for lead carpenters track behind cost of living, but only slightly. Production managers average a bit worse, with salaries at 9% under cost of living. 


*Insufficient data for statistical accuracy

Philadelphia is one of the few markets that has reliable data for staff with less than two years’ experience in their positions. It’s notable that not only does the city pay relatively well compared to cost of living, but newer leads and PMs actually earn a higher wage on average than more experienced staff. This could be because remodelers are offering additional pay to attract employees. 

About a quarter of remodeling companies reported that their carpenters had some kind of job-related education. That number increased to nearly 60% for leads and PMs and 80% for production managers—a significantly higher percentage than most other markets. Yet in the case of Philadelphia, the added education didn’t translate into higher wages.   

As is the case in New York, production managers are seeing the biggest projected increase. Not surprisingly, carpenters, leads, and project managers with less experience and company tenure with the company have received fewer and smaller raises since 2015. 

Out of the nine markets, Philadelphia ranks in the top three for percentage of companies offering medical benefits, and pays the highest percentage of medical plans. Remodelers with more revenue are likelier to offer coverage, but it’s far from a one-to-one correlation. No relationship exists between companies that provide health insurance and those in an area with a higher cost of living. 

Return to full results

Tags


Add new comment

Plain text

  • No HTML tags allowed.
  • Web page addresses and email addresses turn into links automatically.
  • Lines and paragraphs break automatically.
leaderboard2

Related Stories

Preparing for an Uncertain 2024

Here's how remodelers can prepare for unpredictable market

4 Steps to Prep Your Business for Contraction

How a remodeling company plans ahead for the worst of times (and the best of times)
 

Creating a Company Fire Drill: How to Prepare for the Worst

A disastrous fire could have been a lot worse if the business wasn’t prepared for the unexpected

The Fundamentals of Growing Profitably

On this episode of Women at WIRC podcast, Nip Tuck Remodeling Owner April Bettinger shares how she plans for her company's profitable growth

3 Things to Add to Your Construction Contract—From a Lawyer

Did you know you can add these three elements to your contracts?

Study Finds Remodelers’ Net Profits Declined

How far did net profits decline and what's influencing the drop?

The Home Depot Bets on Pros Amid Predictions of Flat Sales Growth

For the first time since 2019, The Home Depot’s revenue fell short of Wall Street’s predictions amid a general softening in the home improvement market

Indicators of a Softening Market and How to Prepare

Market conditions could be changing, but don't panic. Richardson shares ways to stay on top of market conditions and how to prepare for any potential softening down the road.

Estimating Three Ways

Three remodelers reveal how they estimate a project

Grow Your Business Through Collaboration with Remodeling Peers

Remodeling Mastery Forums offers a unique business opportuniy for remodelers

Advertisement
boombox2
Advertisement
halfpage2
Advertisement
native1

More in Category




Advertisement
native2
Advertisement
halfpage1
Advertisement
leaderboard1