The American Mold Builders Association (AMBA; Indianapolis) has released its 2019-2020 AMBA Wage and Salary Report. This annual report represents the largest compensation study focused on the U.S. mold building industry. Now in its ninth year, AMBA’s Wage and Salary Report contains comprehensive analyses of 50 job classifications from mold manufacturing–related firms that serve a variety of end-use markets.
Participants in this year’s study included approximately 100 U.S. mold building companies reporting wage and salary information on employees in current positions. This year’s study revealed a slight 2% decrease in reported salaries, as well as a drop in intention to hire new employees over the next 12 months from 75% of respondents to 64%.
For reported roles needing to be filled, the number of technical positions significantly outweighed the availability of administrative leadership positions. Of the total jobs available, 76% represented technical positions.
The workforce age trend continues to reflect employment percentages similar to 2018 and 2019. While the percentage of workers under the age of 50 has risen to 61%, this is still a significantly lower percentage than the 70% of workers under the age of 50 reported back in 2006. For this reason, initiatives to attract youth into the mold building sector remain a top priority in 2020.
The 2019-2020 report allows mold building executives the ability to benchmark beginning and average wages for individual positions specific to the U.S. mold building industry by company size as well as region. For specific wage data analysis and other demographic trends, contact AMBA.