TECHNICAL FEATURE rates. If compensation rates exceed what can be recovered in billing rates, then profits may be negatively impacted. Billing rates have been generally tracking with total compensation. Many of the senior level roles (COO and Senior VP) have yet to fully recover to pre-recession rates, while more production-oriented positions (Senior Project Manager, Project Manager) are above 2009 numbers (Table 4). Conclusion The numbers tell the story. The A/E industry is nearly fully recovered to pre-recession compensation and billing rates. The achieved direct labor multiplier is on the rise, net revenues are increasing, and expenses are holding steady. Employees are demanding salary increases, post-recession, and by understanding the overall financial position of the A/E industry (at the median level of performance) you can use that knowledge as you consider your firm's compensation strategy-cash compensation is only one spoke in the wheel when it comes to employee engagement and attracting and retaining staff. 48 ASHRAE JOURNAL ashrae.org FEBRUARY 2015 TABLE 4 Historical billing rates by position/role for billable staff. 2014 2013 2012 2011 2010 2009 Chairman of the Board 205 197 195 200 191 190 Chief Executive Officer 198 200 195 191 190 200 COO/Executive VP 180 185 185 185 185 200 Senior VP/Senior Principal 190 195 190 186 182 200 Other Principals/ Partners 180 186 172 172 175 170 Director of Computer Operations 130 117 125 115 138 120 Branch Office Manager 165 164 154 150 139 145 Department Head 165 157 155 150 147 140 Senior Project Manager 150 144 140 135 135 135 Project Manager 126 122 120 112 117 114 Source: PSMJ's 2014 Management Compensation Benchmark Survey Report Note: If you are interested in participating in PSMJ's 2014 surveys you can find out more about the benefits of participation at: www.psmj.com/surveys-research/participation.cfm.