Establishing Competitive Pay for Employees
Mercer releases its 2008 US Mercer Benchmark Database
New York, 2 October 2008 – Mercer has just released its 2008 US Mercer Benchmark Database, a comprehensive source of pay data for more than 1,000 functional positions. The database helps organizations assess trends in pay to ensure compensation for their employees is competitive and financial resources are properly allocated.
In addition to base pay, short-term incentive and long-term incentive data, the US Mercer Benchmark Database can be used to analyze pay data by industry, assets, revenue/sales, operating expenses/budgets, gross premiums, net revenue, total employment, geographic region and metropolitan area.
The 2008 US Mercer Benchmark Database gives employers the ability to compare pay across various functional positions and industries to help set pay differentials. At the management level, for example, there is wide variation in compensation across both, as the following chart illustrates.
Year-over-year comparisons by position, another key feature of the US Mercer Benchmark Database, indicate a range of changes in median total cash compensation. Pay increases varied considerably among some of the most common executive level positions, as illustrated below.
About the database
The US Mercer Benchmark Database consists of 13 modules with positions in 16 functional areas, including administration, communication, corporate affairs, customer service, engineering, knowledge management, finance, human resources, information technology, manufacturing, marketing, quality, research and development, sales, supply and logistics, and top management. For each position, the database provides statistical summaries for base salary, short-term incentives, total cash compensation (base pay plus short-term incentives), pay ranges and short- and long-term incentive eligibility and valuation.
The modules of the database are available individually or as a single, cross-functional database. To order the 2008 US Mercer Benchmark Database, visit www.imercer.com or call 800 333 3070.
About Mercer Mercer is a leading global provider of consulting, outsourcing and investment services. Mercer works with clients to solve their most complex benefit and human capital issues, designing and helping manage health, retirement and other benefits. It is a leader in benefit outsourcing. Mercer’s investment services include investment consulting and multi-manager investment management. Mercer’s 18,000 employees are based in more than 40 countries. The company is a wholly owned subsidiary of Marsh & McLennan Companies, Inc., which lists its stock (ticker symbol: MMC) on the New York, Chicago and London stock exchanges. For more information, visit www.mercer.com.
