Design Firm Principals Dodge Pay Cuts

Despite the economic slowdown last year, ZweigWhite researchers found that in 2001, only 5% of design firm principals took paycuts, and at a median average of 10% less than their 2000 salaries.

04/10/2002


Despite the economic slowdown last year, ZweigWhite researchers found that in 2001, only 5% of design firm principals took paycuts, and at a median average of 10% less than their 2000 salaries.

"I'm surprised at the low number of firms that report having cut principal pay," commented Kathryn Sprankle, a senior vice president at the Natick, Mass.-based ZweigWhite. "Some industry firms got through the downturn relatively unscathed, particularly those involved in public infrastructure work, but most companies tightened their belts and trimmed costs, not only in response to a general slowdown in work, but also in anticipation of whatever lies ahead."

Where did those budget cuts come from? ZweigWhite researchers suggest that benefits and compensation for lower-level staff may have borne some of the brunt.

"Cutting principal pay should occur before reducing the pay and benefits of other staff," advised Sprankle. "I don't know which is worse for a firm: losing disenfranchised staff resentful of bearing the burden of needed cost-cutting or having to let them go as work slows and the firm can't afford to keep them." For more information on ZweigWhite's "2002 Principals, Partners & Owners Survey," log on to: www.zweigwhite.com .





No comments
Consulting-Specifying Engineer's Product of the Year (POY) contest is the premier award for new products in the HVAC, fire, electrical, and...
Consulting-Specifying Engineer magazine is dedicated to encouraging and recognizing the most talented young individuals...
The MEP Giants program lists the top mechanical, electrical, plumbing, and fire protection engineering firms in the United States.
Combined heat and power; Assessing replacement of electrical systems; Energy codes and lighting; Salary Survey; Fan efficiency
Commissioning lighting control systems; 2016 Commissioning Giants; Design high-efficiency hot water systems for hospitals; Evaluating condensation and condensate
Solving HVAC challenges; Thermal comfort criteria; Liquid-immersion cooling; Specifying VRF systems; 2016 Product of the Year winners
Driving motor efficiency; Preventing Arc Flash in mission critical facilities; Integrating alternative power and existing electrical systems
Putting COPS into context; Designing medium-voltage electrical systems; Planning and designing resilient, efficient data centers; The nine steps of designing generator fuel systems
Designing generator systems; Using online commissioning tools; Selective coordination best practices
As brand protection manager for Eaton’s Electrical Sector, Tom Grace oversees counterfeit awareness...
Amara Rozgus is chief editor and content manager of Consulting-Specifier Engineer magazine.
IEEE power industry experts bring their combined experience in the electrical power industry...
Michael Heinsdorf, P.E., LEED AP, CDT is an Engineering Specification Writer at ARCOM MasterSpec.
click me