AGC of Colorado Releases Its 2009 Salary Survey

Data shows 20% of responding contractors expect to hire, raise salaries in 2010

AGC of Colorado, assisted by CPA firm of BKD, released its 2009 Salary and Benefits Survey Report last week with data collected from both union and non-union general and specialty contractors in Colorado.

The majority of respondents (64%) reported that they expect salaries to remain the same in 2010, 17% expect a decline and 19% expect an increase in salaries. While 41% of contractors reporting data expect no change in their employee base, nearly the same percentage (39%) expect a decrease and 20% expect to hire in 2010.

Other results of note include the benefits provided by companies to salaried employees and craft workers. Ninety-nine percent of companies participating in the survey provide a health insurance plan for salaried employees, with 93% of those companies covering 50% to 100% of the premium for the employee. Salaried employees at 93% of firms also receive retirement plans (including 401k plans), with 64% providing company match amounts ranging from 2% to 100%.

Sixty-four companies with craft workers reported providing a health insurance plan, with more than 90% of those companies covering 50% to 92% of premiums for hourly employees. Eighty-five percent of companies with craft workers also reported providing them with a retirement plan (including 401k plans) with 57% matching contributions between 2% to 100%. Vehicle eligibility and reimbursement are also available by position.

The AGC of Colorado 2009 Salary and Benefit Survey results are available through the AGC/C by calling 303-388-2422.