May 1, 2024

2023 Actual and 2024 Construction Executive Pay Forecast: First Quarter 2024

2023 Actual and 2024 Construction Executive Pay Forecast: First Quarter 2024 Construction

The Contractor Compensation Quarterly (CCQ) is especially designed for the busy construction executive that needs to keep abreast of competitive compensation and benefit levels within the industry.

The 2023 Executive actual increase came in at 5.6%. Contractors are projecting a 2024 executive increase of 4.7%. Historically predictions are about .3% to .5% low, so we expect the 2024 year-end actual increase to grow by year end. The actual 2023 increase compared to the 2023 projected increase was .9% higher, so it is possible we will see this same trend in 2024. For comparison, WorldatWork is projecting a 4.1% average increase for all executives in 2024.

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