None of them are certain, but all of them are possible. This is the average monthly salary including housing, transport, and other benefits. For the latest in HR and compensation news, subscribe to our monthly e-newsletters, blogs, and white papers. We have a plan for your needs. Examines the health of the US economy from the perspective of CEOs. The OECD (Organization for Economic Co-operation and Development) dataset contains data on average annual wages for full-time and full-year equivalent employees in the total economy. Track the status of job markets across the US through online job listings. For example, manufacturing workers make a whopping average salary of $37,170 while working in the transportation industry. One-stop, member-exclusive portal for the entire suite of indicators. Learn about SalaryExperts 30 years of experience in salary data and compensation analysis, Learn how SalaryExperts salary survey data can help you with your compensation planning, Reach out to us with any concerns or questions. 0 The country's economy is growing rapidly, and its position as one of the world's leading manufacturing countries means its labour pool is always in demand. +52 (777) 319 1105 Country Series Unit; Australia: Current prices in NCU: Australian Dollar: 46 247: 48 316: 50 053: 51 799: 54 199: 56 019: 58 403: 61 884: 64 344: 65 362: 69 110: 72 979: . They include wages and salaries, remuneration for time not worked, bonuses and gratuities paid by the employer to the employee. Sure beats a few weeks, doesnt it? 4190 Telegraph Road, Suite 2100 Manufacturing workers on the lower end of that spectrum, the bottom 10% to be exact, make roughly $24,000 a year, while the top 10% makes $38,000. Average Salary. White label accounts can distribute our data. 0000007669 00000 n The average salary in China is far lower than in Western countries, but the cost of living is also much lower. Manufacturing workers may want to avoid working in the retail industry as it offers the lowest average salary of $27,942. Because of efforts such as these, the minimum wage in each state varies. Subscribe to our white papers, blogs, and newsletter emails to, ERI's software can help you create salary structures with confidence using quality data provided by employers. If we look back at our nearly five decades of being in business, we've . You may not use Our Trademarks in connection with any product or service that does not belong to us nor in any manner that is likely to cause confusion among users about whether The Conference Board is the source, sponsor, or endorser of the product or service, nor in any manner that disparages or discredits us. Assists in candy manufacturing . Salaries By Country. Manufacturing Cost Is Determined By More Than Labor Rates. (Nowadays this is called nearshoring.) Canada's real hourly minimum wage: $8.10 USD. Dougherty, Frisancho Robles and Krishna (2014) show that productivity in Indian firms in labor-intensive industries as well as in industries facing highly volatile demand was, on average, about 11%-14% higher in the states with less restrictive labor laws than in others. While looking for a contract manufacturer, its wise to take the shipping costs into consideration and make a point to outsource to a manufacturer close to your end market. Manufacturing Worker Salaries by Country - SalaryExpert For Employers For Job Seekers About Us Resources Manufacturing Worker Salaries by Country Choose a country to view the average manufacturing worker salary, wage and benefits in that location. Minimum wage relative to mean and median earnings. Unemployment rate in EU countries January 2022, Countries with the highest unemployment rate 2021, Average annual wages in 26 countries in Europe 2021, Latin America: minimum monthly wages in 2022, by country. Centers offer access to world-class experts, research, events, and senior executive communities. Schedule time with our certified representatives to learn more about our platform for salary and cost of living analyses. If you are an admin, please authenticate by logging in again. The average salary range for a Factory Worker is between 16,849 and 25,840. 0000007959 00000 n In addition, companies like Schneider Electric Industrial Services and AAON report highly competitive wages for manufacturing workers. However, a higher wage level in absolute term does not necessarily mean a more decent pay. The minimum wage set by local governments must be 37 cents per hour. All contract manufacturers have to pay their bills. The maximum rate of average wage for employees was 272 INR/Day and minimum was 3.87 INR/Day. Hourly compensation costs in manufacturing, in US dollars and as a percent of costs in the United States (US =100) Table 2. At the same time, monitoring the evolution of wages and earnings provides insights into the extent to which workers benefit from gains in productivity. Suite 116 #350 The average manufacturing worker gross salary in Germany is 33.060 or an equivalent hourly rate of 16 . The Conference Board and torch logo are registered trademarks of The Conference Board. (3) U.S. dollar changes are approximately equal to national currency changes plus exchange rate changes for each country. A country's minimum wage is the lowest amount of money that employers in that country are legally allowed to pay their workers for a given unit of work. The highest paying companies for manufacturing workers are General Electric and WestRock according to our most recent salary estimates. Civac, Jiutepec, Morelos hb```f`` Wage increases in country X can erode these savings over time, especially when wage growth outpaces workers' productivity gains. This is the equivalent of $596/week or $2,582/month. For complete definitions and country information, see Technical Notes and Country Notes. Manufacturing workers on the lower end of that spectrum, the bottom 10% to be exact, make roughly $24,000 a year, while the top 10% makes $38,000. However, the median (also called "typical") income is $40,000, which is fairly accurate for everyone but Jordan. You need a Statista Account for unlimited access. 58,129.99. If relative wage, productivity and exchange rate . In some countries (like Mexico), the legal system is honest and fair to foreign companies. . 48 Sur Centenario #205 Minimum wages were first utilized to address the exploitation of workers in sweatshops and then came to be seen as a way to prevent exploitation and help lower-income families everywhere. 0000009697 00000 n 02/27/2023 0000013883 00000 n 0000012248 00000 n Organisation for Economic. startxref Accessed March 01, 2023. https://www.statista.com/statistics/1282801/average-earnings-by-country/, Adzuna. Check out what your job is worth or what it would cost you to relocate, Get an in-depth analysis of what your job is worth, Find out about salaries and what different jobs are worth, Compare the cost of living in locations around the world, Check out the cost of living in specific cities, states, or countries. Home; . Councils are invitation-only, peer-led communities of senior executives that come together to exchange knowledge, accelerate career development, and advance their function. Track the latest short-, medium-, and long-term growth outlooks for 77 economies. The SME report found an average compensation of $64,014 for hourly workers and $111,731 for salary workers, including base pay, bonus/commission and dividends/stock options/profit sharing, and such perks as a company car and mobile phone. . In addition, they earn an average bonus of 460 . Human Capital Benchmarking & Data Analytics. Our research and analysis have helped the world's leading companies navigate challenges and seize opportunities for over 100 years. An Exploratory Study Examining the Key Aspects and Actions for Universities to Achieve High Sustainability Rankings Facebook: quarterly number of MAU (monthly active users) worldwide 2008-2022, Quarterly smartphone market share worldwide by vendor 2009-2022, Number of apps available in leading app stores Q3 2022, Profit from additional features with an Employee Account. (2) With the exception of Estonia and Turkey, 1997 is the first year data for all countries are available. Covering all aspects of labor markets, from monthly development to long-term trends. 2264 0 obj <> endobj Toggle navigation. Also, it cant hurt to contract with a manufacturer close in proximity, like Mexico. 5600 W. Lovers Lane Average annual percent change in hourly compensation costs in manufacturing and exchange rates Table 3. C 248.495.3250 Components of hourly compensation costs in manufacturing, US dollars, 2016 Table 4. The average hourly pay for a Manufacturing Worker is $16.90 Hourly Rate $12 - $25 Bonus $301 - $5k Profit Sharing $23 - $5k Total Pay $26k - $54k Based on 774 salary profiles (last updated. *NEW Please create an account with The Conference Board for complimentary access to all ILC files. 0000001820 00000 n International Minimum Wage Rates 2021 - minimum-wage.org. 5600 W. Lovers Lane You know if you are being paid fairly as a Manufacturing Worker if your pay is close to the average pay for the state you live in. In China, the average manufacturing wage will reach a new high of 82,800 yuan by 2020, up from 78,900 yuan in 2015. (5) For Austria, ISIC C Manufacturing excludes ISIC 12 Manufacture of tobacco products. Fax: +52 (777) 320 6852 Minimum wage is typically computed on a per-hour or per-month basis, but may occasionally appear as a per-day or per-week rate. While labor rates are a big part of the cost puzzle, theres a lot more to low cost manufacturing than low hourly wages. Top countries in terms of manufacturing output. For over 100 years, our cutting-edge research, data, events and executive networks have helped the world's leading companies understand the present and shape the future. For example, an average manufacturing . How much does a Manufacturing Worker make? Factory worker wages in the United States continue to be significantly higher than the average wage of an individual factory worker. 0000072830 00000 n If you want to avoid being overcharged, look into contract manufacturers with low overhead costs and/or a large client base. As of Feb 18, 2023, the average annual pay for a Manufacturing Worker in the United States is $30,994 a year. Please create an employee account to be able to mark statistics as favorites. Suite 116 #350 In the United States, this figures was 55,522 U.S.. Compare salaries for individual cities or states with the national average. Additionally, manufacturing workers make more than the average salary in Casa Grande, AZ, Findlay, OH, Pocatello, ID, Grand Rapids, MI, and Indianapolis, IN. As a Premium user you get access to the detailed source references and background information about this statistic. Partly, it can be explained by China's cheaper workers: The average hourly wage for Chinese manufacturing workers is less than a tenth that of their average U.S. counterparts, according to the Bureau of Labor Statistics. In, Adzuna. It being about twice as cheap to live in China, those lower Chinese wages go further. Minimum relative to average wages of full-time workers. Chart. (1) Compensation costs include direct pay, social insurance expenditures, and labor-related taxes. Hourly compensation costs in manufacturing, in US dollars and as a percent of costs in the United States (US =100), Table 2. 0000007708 00000 n The federal minimum wage for tipped workers is $2.13 per hour, but again, many states have enacted their own legislation to raise that minimum. 0000005430 00000 n Furthermore, many states have enacted or proposed legislation to gradually increase the minimum wage by increments over the next several years to reach a specific wage. Are you interested in testing our business solutions? What do you think? Total private: $33.03 Over-the-month employment change in thousands Average hourly earnings Employment and average hourly earnings by industry for all employees, January 2023, seasonally adjusted Bubble size represents employment level in thousands Mining and logging Construction Manufacturing Wholesale trade Retail trade Transportation and Advanced users can use our Python/R/Matlab packages. Of the twenty-one countries investigated by PRI, the monthly wage for garment workers range widely from $1,864 (USA) to $194 (Sri Lanka). Minimum relative to average wages of full-time workers. Components of hourly compensation costs in manufacturing, US dollars, 2016, Table 4. 2023 ERI Economic Research Institute, Inc. ALL RIGHTS RESERVED. as a percent of total hourly compensation. Demo. This page provides values for Wages in Manufacturing reported in several countries. dollars)." 0000013626 00000 n Profit from the additional features of your individual account. . a,0,` 0000013179 00000 n View Top Manufacturing Executive salary data across 634 cities in Mullinville, KS. Factory Worker. Show publisher information (5) Except for Argentina, Japan and Taiwan, data relate to manufacturing as defined by the International Standard Industrial Classification of All Economic Activities (ISIC) Revision 4. Filters. Tons of great salary information on Indeed.com Norway topped the list with an average manufacturing wage of $53.89 per hour, 60 percent above the U.S. average of $33.53. Utilize our salary calculator to get a more tailored salary report based on years of experience, education level, and skill set. However, this doesn't mean that the actual highest salary in India is only 1.43 Lakhs. Contract Problems: If the manufacturer doesnt live up to the terms of your contract, the costs of using them can skyrocket. What Does an Assembly/Production Worker Do. The data displayed are provided for informational purposes only and may only be accessed, reviewed, and/or used in accordance with, and the permission of, The Conference Board consistent with a subscriber or license agreement and the Terms of Use displayed on our website at www.conference-board.org. 0000007185 00000 n Advanced users can use our Python/R/Matlab packages. Register in seconds and access exclusive features. Dallas, Texas 75209 Provides a picture of the regulatory environment of working time, minimum wages and maternity protection in more than 100 countries around the world. Business Solutions including all features. ", Adzuna, Average salaries in selected countries worldwide as of June 2021 (in U.S. dollars) Statista, https://www.statista.com/statistics/1282801/average-earnings-by-country/ (last visited March 01, 2023), Average salaries in selected countries worldwide as of June 2021 (in U.S. dollars) [Graph], Adzuna, November 29, 2021. Austin, Texas, is one of the most high-tech specialized cities in the country, with 53.6 percent of manufacturing jobs classified as high-tech compared to the national average of just 16.1 percent. Find market rates for jobs by location, industry, and size. to incorporate the statistic into your presentation at any time. This is followed by the United States ($1. But what about salary? Average Salary. In fact, as automation and technology improves, labor costs become less and less important. If we look back at our nearly five decades of being in business, weve never needed fewer man hours to produce assemblies and components than we do today. 0000005315 00000 n * Indicates "Economy of [country or territory]" links. Learn more about how Statista can support your business. In some states, the wages are much higher than in others. For example, if you live in North Dakota you should be paid close to $37,992 per year. Change Country Change Country. Office: 248.334.4142 x 700. Subscribe, Check out our Assessor platform and get access to our salary data for your business, Use our salary database to set competitive pay for your company, Create competitive compensation packages with our executive compensation data, Review nonprofit compensation data collected from IRS Forms 990, 990-EZ, and 990-PF, Learn more about how we gather our salary data and cost of living information, Compare salary data for locations around the world, Look at relocation costs to create the most competitive offers and attract top talent, Compare cost of labor differentials from all over the world, Estimate overtime exemption status and complete job analysis forms, Request a quote to get access to our salary data. Wages in Manufacturing World Europe America Asia Africa Australia G20 This page displays a table with actual values, consensus figures, forecasts, statistics and historical data charts for - Wages in Manufacturing. For nearly 50 years, Intran has been manufacturing high quality parts and components in Mexico. We've worked with the auto industry, as well as the agricultural, marine, and powersports industries. Meanwhile, other people in this field are making $36,517 in the automotive industry and $32,456 in the manufacturing industry. Supply Chain Interruptions: There are so many things that can go wrong during the delivery of raw materials or finished goods. The average wage in the world is $470/month. 0000016328 00000 n The correction makes hourly compensation costs for Argentina more in line with those for Greece rather than those for certain Eastern European economies. * Indicates "Economy of [country or territory]" links. In 2019 Netherlands was ranked number 2 in Manufacturing . Average salaries in selected countries worldwide as of June 2021 (in U.S. dollars) [Graph]. China leads the world in terms of manufacturing output, with over $2.01 trillion in output (see Table 1). Manufacturing hourly compensation costs in China and India, in US dollars and as a percent of costs in the United States (US =100). Wages in US dollars are computed by the UNECE Secretariat using purchasing-power-parity dollars. (214) 425-5869, Mark W. Williams Any applications received after the deadline may not be considered.Job summaryThe . Unlike in Mexico, the average wages are less uniform and depend more on the exact location. Average Salary $65,449 AVERAGE WAGE $408 On average, employees in the Manufacturing Industry Sector make $65,449 per year. Trademarks "THE CONFERENCE BOARD," the TORCH LOGO, and other logos, indicia and trademarks featured on Our Sites are trademarks owned by The Conference Board, Inc. in the United States and other countries ("Our Trademarks"). Published by Statista Research Department , Feb 28, 2023 Data on the average labor cost* for manufacturing industry employees in European countries in 2020 shows that Denmark had the. 0000000016 00000 n statistic alerts) please log in with your personal account. Average annual wages per full-time equivalent dependent employee are obtained by dividing the national-accounts-based total wage bill by the average number of employees in the total economy, which is then multiplied by the ratio of average usual weekly hours per full-time employee to average usually weekly hours for all employees. While theres some truth to it, its still a myth. Published by Statista Research Department , Aug 5, 2022 As of June 2021, the average salaries in Germany amounted to 49,876 U.S. dollars. Use Ask Statista Research Service. All material on Our Sites are protected by United States and international copyright laws. Oregon pays Manufacturing Workers the most in the United States, with an average salary of $38,334 per year, or $18.43 per hour. Salary estimates based on salary survey data collected directly from employers and anonymous employees in Germany. Wages represent a key determinant of attractiveness, as well as the potential to increase the standards of living and the long-term sustainability of a given sector . Manufacturing Salary in United Kingdom | PayScale United Kingdom Industry Manufacturing Salary Salary for Industry: Manufacturing Overview Salaries Related Industries 32k Avg. Fax: +52 (777) 320 6852, Intran Texas In addition to Australia, Canada, Italy, and Japan, countries with higher hourly compensation costs were (214) 202-2072 Shipping is expensive and makes up a large chunk of your manufacturing costs. Source: The Conference Board, International Labor Comparisons program, February 2018. Average wages can differ from median wages; for example, the Social Security Administration estimated that the 2020 average wage in the United States was $53,383, while the 2020 median wage was $34,612.[1]. Membership in The Conference Board arms your team with an arsenal of knowledge, networks, and expertise that's unmatched in scope and depth. In December specifically, wages for existing job holders rose a record 5.9%. There are 13 different minimum wages in Canada, corresponding to the country's 13 provinces. Track the state of the business cycle for 12 global economies across Asia and Europe. Average Salary: 28,142. The corrections apply to estimates of hourly compensation costs and its components for Argentina, including "pay for time worked," "directly paid benefits," "total direct pay," and "social insurance expenditures and labor-related taxes," which were all previously understated. What Are The Different Types Of Tube Bending. 0000019271 00000 n This key economic indicator for the Manufacturing sector has been recently updated. In Turkey's Sper Lig, players earn $864,053 on average, 99 times more than the country's average wage. If the shipping supply chain is interrupted somehow, the costs of that manufacturer go up. Reprint requests are reviewed individually and may be subject to additional fees. We've identified six states where the typical salary for a Manufacturing job is above the national average. Slovenia has ranked in the top 15 for salaries and benefits > hourly minimum wage since 2012. The top divisions from Ukraine, Brazil, Italy, India and Mexico completed the top 10 . You can only download this statistic as a Premium user.