CE Pro February 2022 - 38

INDUSTRY | Research
How High Did
Wages Spike
in 2021?
The latest CE Pro Wage
& Salary Study reveals
wage increases as high
as 15% for experienced
technicians in 2021,
with executive
management/owner
compensation rising 27%.
By Jason Knott
WHAT A DIFFERENCE
a year makes! Last
year's CE Pro Wage &
Salary Study revealed that
overall wages in the custom
electronics industry were
flat in 2020 as integration
companies paused as they
waited to see the effects of
the pandemic. But 2021 is a
completely different story.
The so-called " Great
Resignation " coupled with
rising inflation and high
demand for custom
installation services has
resulted in a spike in
payroll for certain positions
as high as 15%.
38 | CE Pro February 2022
Across the board, dealers
had to pay more in 2021
for project managers, sales
staff, programmers, systems
designers, installation
and service technicians, IT
specialists, and even office
admin support staff. At
the same time, there was
a slight increase in certain
key benefits such as health
insurance that integration
companies provide to their
employees, ostensibly a
necessary boost to attract
workers.
But don't feel sorry
for integration company
owners - at the same
time they were forced
to pay higher wages to
staff, company executives
were taking in the highest
percentage increase of all.
According to the study, the
biggest victors in terms of
wages in 2021 were integration
company owners,
presidents, CEOs, general
managers, COOs and
vice presidents who saw
their own salaries rise by a
whopping 27% last year.
Of course, we all know
that the owner's compensation
ebbs and flows with
the success of the business.
During 2020 in the midst
of the initial COVID-19
outbreak in which many
businesses were shut down
and many owners were
forced to lean on business
loans such as the Paycheck
Protection Program, the
average compensation for
integration company executives
fell 15%, so the 2021
increase is well deserved.
Among the company
owners who responded to
the survey, 76% percent
reported they draw a salary
from their own company;
47% derive their compensation
from a combination of
a directly salary plus comcepro.com

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CE Pro February 2022

Table of Contents for the Digital Edition of CE Pro February 2022

CE Pro February 2022 - Presentation Page
CE Pro February 2022 - Cover1
CE Pro February 2022 - Cover2
CE Pro February 2022 - 1
CE Pro February 2022 - 2
CE Pro February 2022 - 3
CE Pro February 2022 - 4
CE Pro February 2022 - 5
CE Pro February 2022 - 6
CE Pro February 2022 - 7
CE Pro February 2022 - 8
CE Pro February 2022 - 9
CE Pro February 2022 - 10
CE Pro February 2022 - 11
CE Pro February 2022 - 12
CE Pro February 2022 - 13
CE Pro February 2022 - 14
CE Pro February 2022 - 15
CE Pro February 2022 - 16
CE Pro February 2022 - 17
CE Pro February 2022 - 18
CE Pro February 2022 - 19
CE Pro February 2022 - 20
CE Pro February 2022 - 21
CE Pro February 2022 - 22
CE Pro February 2022 - 23
CE Pro February 2022 - 24
CE Pro February 2022 - 25
CE Pro February 2022 - 26
CE Pro February 2022 - 27
CE Pro February 2022 - 28
CE Pro February 2022 - 29
CE Pro February 2022 - 30
CE Pro February 2022 - 31
CE Pro February 2022 - 32
CE Pro February 2022 - 33
CE Pro February 2022 - 34
CE Pro February 2022 - 35
CE Pro February 2022 - 36
CE Pro February 2022 - 37
CE Pro February 2022 - 38
CE Pro February 2022 - 39
CE Pro February 2022 - 40
CE Pro February 2022 - 41
CE Pro February 2022 - 42
CE Pro February 2022 - 43
CE Pro February 2022 - 44
CE Pro February 2022 - 45
CE Pro February 2022 - 46
CE Pro February 2022 - 47
CE Pro February 2022 - 48
CE Pro February 2022 - 49
CE Pro February 2022 - 50
CE Pro February 2022 - 51
CE Pro February 2022 - 52
CE Pro February 2022 - 53
CE Pro February 2022 - 54
CE Pro February 2022 - 55
CE Pro February 2022 - 56
CE Pro February 2022 - 57
CE Pro February 2022 - 58
CE Pro February 2022 - 59
CE Pro February 2022 - 60
CE Pro February 2022 - 61
CE Pro February 2022 - 62
CE Pro February 2022 - 63
CE Pro February 2022 - 64
CE Pro February 2022 - Cover3
CE Pro February 2022 - Cover4
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https://www.nxtbook.com/emerald/cepro/april_2024
https://www.nxtbook.com/emerald/cepro/march_2024
https://www.nxtbook.com/emerald/cepro/janfeb2024
https://www.nxtbook.com/emerald/cepro/december_2023
https://www.nxtbook.com/emerald/cepro/november_2023
https://www.nxtbook.com/emerald/cepro/oct_2023
https://www.nxtbook.com/emerald/cepro/sept_2023
https://www.nxtbook.com/emerald/cepro/august_2023
https://www.nxtbook.com/emerald/cepro/july_2023
https://www.nxtbook.com/emerald/cepro/june_2023
https://www.nxtbook.com/emerald/cepro/may_2023
https://www.nxtbook.com/emerald/cepro/april_2023
https://www.nxtbook.com/emerald/cepro/march_2023
https://www.nxtbook.com/emerald/cepro/february_2023
https://www.nxtbook.com/emerald/cepro/january_2023
https://www.nxtbook.com/emerald/cepro/december_2022
https://www.nxtbook.com/emerald/cepro/november_2022
https://www.nxtbook.com/emerald/cepro/october_2022
https://www.nxtbook.com/emerald/cepro/september_2022
https://www.nxtbook.com/emerald/cepro/august_2022
https://www.nxtbook.com/emerald/cepro/july_2022
https://www.nxtbook.com/emerald/cepro/june_2022
https://www.nxtbook.com/emerald/cepro/may_2022
https://www.nxtbook.com/emerald/cepro/april_2022
https://www.nxtbook.com/emerald/cepro/march_2022
https://www.nxtbook.com/emerald/cepro/february_2022
https://www.nxtbook.com/emerald/cepro/january_2022
https://www.nxtbook.com/emerald/cepro/december_2021
https://www.nxtbook.com/emerald/cepro/november_2021
https://www.nxtbook.com/emerald/cepro/october_2021
https://www.nxtbook.com/emerald/cepro/september_2021
https://www.nxtbook.com/emerald/cepro/august_2021
https://www.nxtbook.com/emerald/cepro/july_2021
https://www.nxtbook.com/emerald/cepro/june_2021
https://www.nxtbook.com/emerald/cepro/may_2021
https://www.nxtbook.com/emerald/cepro/cepro_april_2021
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