Despite the downturn, US mine wages increasing
U.S. Metal & Industrial Mineral Mine Salaries, Wages, and Benefits Report, 2013
Salary summaries for managerial, technical and administrative personnel at 40 metal and 53 industrial mineral mines. Wage scales listed by job title for hourly workers at 51 metal and 67 industrial mineral mines.
Executive compensation for 30 Canadian and American major, mid-tier and junior metal mining companies.
Benefit plan profiles for each mine.
Incentive bonus plan descriptions for many new and innovative plans reported by the mines.
Statistical tables for comparing salaries, wages and benefits among union and non-union mines, eastern and western U.S. mines, surface vs. underground mines and metal vs. industrial mineral mines.
Workers compensation & unemployment tax rate summaries for mining in all 50 states.
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With commodity prices suffering across the board this year, mining companies have had to tighten the purse strings in many ways: Projects have been put on hold, staff have been laid off and exploration spending has plummeted.
But according to a recent survey by CostMine, the majority of US mines have actually increased wages by an average of 3.1%. Meanwhile, no companies have decreased wages.
CostMine's Salaries, Wages and Benefits survey of US metal and industrial mineral mines also shows that a large number of companies are offering their employees the opportunity to increase wages through incentive bonus plans.
And benefits range from the standard health and life insurance to some pretty innovative packages: Education and training assistance, matching charitable gift programs, scholarships and health club memberships.
That's not all: Since safety is always at the forefront of a successful mining operation, many companies are offering cash bonuses for good safety performance.
Miners across the US are proving to be pretty creative and resourceful when it comes to compensation packages. To get a full insight into what some of America's leading mining companies are doing, check out CostMine's 2013 US Metal and Industrial Mineral Mine Salaries, Wages and Benefits report.
In addition to details on bonus plans and other benefits, the CostMine survey provides a comprehensive breakdown of compensation in the mining sector, for jobs ranging from heavy equipment operators, to secretaries to executive officers.
The survey was designed to provide current information for estimating labor costs for new projects, and to provide comparative information for establishing wages and benefit plans for new and existing operations. State and federal employment tax rates are also summarized.