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Casual Articles - Manufacturing Salaries - 2004
Joint ventures can turn your competition into your companion!What are they and are they profitable?You can benefit greatly from sharing the costs of your advertising and promotional campaigns, while doubling the size of your target market.How can that be so? It’s simple! just look at it like this, you are in the coffee business, you have identified your major competitor, he/she is currently servicing a good portion of the customers you wish to attract. This competitor has been servicing these clients for many years and has built up a strong following. Do you think it would be easy for you to “take these clients away” from their trusted provider? Of course not.What if you offered to give your competitor free access to your client base? Do you think he/she would like that? Or if your competitor offered to do the same for you, would you like that? YES, YES, YES!A joint venture is simply offering to promote your fellow business persons product or service to your client base and in return they do the same for you.You can use tracking URLs to determine what sales are made and then split the profits or commissions in whatever way you both agree to.Another advantage is that if you sell to one of your fellow business persons clients you will be able to add them to
Managerial and supervisory personnel in plant/manufacturing/production functions receive the highest median incomes when employed by firms producing stone/clay/concrete/glass products, measuring & controlling devices, and food/beverage products, and the lowest median incomes when employed by companies producing primary ferrous metals, computer & allied products, and furniture & wood products.
Quality assurance/control, regulatory affairs, and documentation employees are paid best by producers of measuring & controlling devices, aerospace & aircraft products, and primary ferrous metals. They are paid least by manufacturers of apparel & other textile products, rubber/plastic products, medical/engineering/scientific equipment, and circuit board products.
Production employees in firms of 250 employees or more fare best among producers of chemical & allied products, paper & allied products, fabricated metal products, and measuring & controlling devices, and worst among manufacturers of furniture & wood products, apparel & textile mill products, and building materials. Production employees in firms of under 250 employees fare best in firms which product stone/clay/concrete/glass products, machinery & heavy equipment, chemicals & allied products, and fabricated metal products, and worst among manufacturers of apparel & textile mill products, circuit board products, and communications equipment.
Level of Managerial/Supervisory Responsibility
This factor is an excellent predictor of overal
Business is a single word or a subject, when analyzed gives a bundle of meanings and explanations. We define business in various ways on diverse circumstances.Generally, business is a profession of producing goods and services for a profit. When we say production, this involves the human labor primarily and machinery as a labor saving device and raw materials for conversion into consumable products. Products are too many: These products are commodities or goods of human needs. They may be wholesome products or spare parts or semi processed materials for being assembled, merged or integrated into the final product.These may be solids, liquids or gases; may be vegetative in origin, metals, or chemicals in nature; they may be naturally grown, cultivated with agricultural techniques or produced with engineering expertise. They may include living beings, birds and animals too.Products are enormous: To understand the enormity of the products, let us visit some of the places.Sweets and savories: Let us go to a sweet stall! Just see the sweets and savories made out of flours of cereals, say rice and wheat and protein rich grams like Bengal gram and green gram etc. You can see at least one hundred items there. Here,
Far toward the other end of the income spectrum, Assemblers "D" have a median income of $20,418. Sometimes earning under $14,600, the lowest-paid employees in this group are employed by firms that manufacture building materials; have $1 million to $4.99 million in total annual revenue; have 5,000 to 9,999 employees; and are located in or near Greensboro/Winston-Salem, Raleigh/Durham/Chapel Hill, Dallas/Ft. Worth, or Charlotte, or outside the metropolitan areas studied in Texas, North Carolina, or Florida.
These composites represent the briefest possible "boil-down" of the voluminous data provided regarding current salaries and cash bonuses and/or profit sharing, and numerous demographic variables provided by 343 firms on over 54,000 managerial, supervisory, sales, engineering, technical, clerical, and blue-collar employees in 187 benchmark jobs which resulted in the eight-volume survey report, Compensation in Manufacturing, 24th Edition - 2004, sponsored by the National Association of Manufacturers.
Copies of the entire eight-volume report are available for $1,250.00 from Abbott, Langer & Associates, Inc., Dept. ART, 548 First St., Crete, IL 60417 (telephone 708/672-4200; fax 708/672-4674; www.abbott-langer.com) Also available is Compensation in Smaller Manufacturing Firms (under 250 employees) for $595.00. Each volume of both reports may be purchased separately. Also available is findpay-MFG04 (a computer program which permits the user to determine pay levels of each survey job on the basis of two or more variables simultaneously).
It would be an exercise in futility to attempt more than a superficial overview of the survey results in this summary. However, some overall data regarding compensation can be presented herein. In addition to the incomes of the benchmark jobs already discussed, the median total cash compensation nationally of some of the other jobs included in the survey report is:
Chief Legal Officers - $181,200
Vice Presidents of Manufacturing/Production - $135,375
Chief Marketing & Sales Executives - $133,835
Chief Corporate Financial Officers - $130,066
Vice Presidents of Manufacturing/Production Engineering - $112,274
Research & Development Managers - $90,377
Engineering Department Managers/Superintendents - $89,232
Chief Human Resources Executives - $80,849
Plant Managers/Superintendents - $78,595
Product/Brand Managers - $75,789
Design Managers - $74,347
Facilities Managers - $68,198
Cost Accounting Managers - $67,161
Sales Engineers - $67,000
Manufacturing Engineers - $66,477
Production Managers/Superintendents - $65,730
Quality Assurance/Control Managers - $64,890
Computer Programmers - $61,963
Purchasing Managers - $61,805
Warehouse Managers - $54,000
General Production Supervisors - $49,781
General Accountants - $48,725
Product Designers - $45,000
Maintenance Leaders/Working Supervisors - $40,833
Drafters, Senior - $43,795
Buyers, Junior - $40,256
Secretaries to the Chief Executive Officer - $40,125
Machine Repairers, Maintenance - $39,192
Production Schedulers - $38,195
Automatic Screw Machine Operators - Multiple Spindle - $37,252
Maintenance Workers, General - $36,420
Chemical Production/Mixing Machine Operators - $35,686
Carpenters, Maintenance - $34,211
Quality Assurance/Control Technicians - $33,329
Inspectors "A" - $32,739
Secretaries - $32,500
Milling Machine Operators - $32,261
Payroll Clerks - $31,775
Numerically Controlled Machine Operators - $31,750
Customer Service Representatives - $29,787
Injection Molding Machine Set-up and Operators - $28,200
Senior Account Clerks - $27,913
Machine Set-Up Workers - $27,809
Material Handlers - $27,705
Lathe Operators, Engine or Turret - $27,690
Painters, Production - $27,619
Machinists, Production - $26,661
Junior Account Clerks - $26,449
Fork Lift Operators - $26,052
Shipping Clerks - $25,317
Finishers - $25,044
Janitors - $24,376
Receptionists - $23,795
Injection Molding Machine Operators - $23,443
Warehouse Laborers - $23,109
Drill Press Operators, Single - $21,320
The income relationships reported above may be distorted slightly, since some of these benchmark jobs were reported more frequently in organizations of one size, while other benchmark jobs were reported more frequently by larger or smaller organizations. This may also be true for product manufactured, geographic location, and supervisory/managerial responsibility. This possible defect is corrected in the complete survey report by reporting income for each benchmark job overall and with "break-outs" by each demographic variable.
Type of Product
Overall, administrative, fiscal, and information technology employees are paid best by manufacturers of communications equipment, medical/engineering/scientific equipment, stone/clay/concrete/glass products, and aerospace & aircraft products, and worst in firms producing building materials, heating/air conditioning/refrigeration products, chemical & allied products, and apparel & textile mill products.
Employees in the sales/marketing group enjoy the highest income in firms that produce chemical & allied products, paper & allied products, circuit board products, and measuring & controlling devices. Income is lowest among producers of building materials, apparel & textile mill products, rubber & plastic products, and heating/air conditioning/refrigeration products.
Clerical personnel are paid best by firms that manufacture aerospace & aircraft products, stone/clay/concrete/glass products, and chemical & allied products. They have the lowest median incomes in firms that produce heating/air conditioning/refrigeration products, circuit boards, and building materials.
Engineering/technical employees have the highest median incomes among manufacturers of aerospace & aircraft products, communications equipment, apparel & textile mill products, and medical/engineering/scientific equipment. The lowest median income is reported among manufacturers of circuit board products, building materials, and primary ferrous metals.
Maintenance/material acquisition personnel are best paid by firms that manufacture aerospace & aircraft products, stone/clay/concrete/glass products, and chemical & allied products. This group of employees are worst paid by manufacturers of apparel & textile mill products, building materials, furniture & wood products, and heating/air conditioning/refrigeration products.
Managerial and supervisory personnel in plant/manufacturing/production functions receive the highest median incomes when employed by firms producing stone/clay/concrete/glass products, measuring & controlling devices, and food/beverage products, and the lowest median incomes when employed by companies producing primary ferrous metals, computer & allied products, and furniture & wood products.
Quality assurance/control, regulatory affairs, and documentation employees are paid best by producers of measuring & controlling devices, aerospace & aircraft products, and primary ferrous metals. They are paid least by manufacturers of apparel & other textile products, rubber/plastic products, medical/engineering/scientific equipment, and circuit board products.
Production employees in firms of 250 employees or more fare best among producers of chemical & allied products, paper & allied products, fabricated metal products, and measuring & controlling devices, and worst among manufacturers of furniture & wood products, apparel & textile mill products, and building materials. Production employees in firms of under 250 employees fare best in firms which product stone/clay/concrete/glass products, machinery & heavy equipment, chemicals & allied products, and fabricated metal products, and worst among manufacturers of apparel & textile mill products, circuit board products, and communications equipment.
Level of Managerial/Supervisory Responsibility
This factor is an excellent predictor of overall
How much should you make from a Joint Venture? 10%? 20%? 50%? Should it be of the net or gross profit or off the top? How do you decide? This is an important consideration, especially for people who are used to paying peanuts and those who are used to accepting a few crumbs. Entrepreneurs who understand business and profit are more likely to pay and demand reasonable commissions.For example, when people attend a DollarMakers Joint Venture Broker Bootcamp, I pay the referring Members up to 50% in commissions! My cost of putting an extra chair into a Bootcamp and a few extra cups of coffee and donuts, plus a workbook, is negligible. I can afford to be generous. My DollarMakers Joint Venture Forum Members earn thousands in commissions every month. But if I was selling computer hardware, with a profit of around 6%, I could afford to pay such a generous commission. Large profit margins demand high commissions; real business people understand that. And there are other ways to reciprocate, other than financially – but that’s a subject for another newsletter or the Bootcamp.A realtor approached me with the typical offer: “Send me a buyer or a seller and I will pay you $75 for a completed sale.” So you get $7,000 and you expect me to accept $75? Are you kidding me? I’ll take 50% of the realtor’s com
Copies of the entire eight-volume report are available for $1,250.00 from Abbott, Langer & Associates, Inc., Dept. ART, 548 First St., Crete, IL 60417 (telephone 708/672-4200; fax 708/672-4674; www.abbott-langer.com) Also available is Compensation in Smaller Manufacturing Firms (under 250 employees) for $595.00. Each volume of both reports may be purchased separately. Also available is findpay-MFG04 (a computer program which permits the user to determine pay levels of each survey job on the basis of two or more variables simultaneously).
It would be an exercise in futility to attempt more than a superficial overview of the survey results in this summary. However, some overall data regarding compensation can be presented herein. In addition to the incomes of the benchmark jobs already discussed, the median total cash compensation nationally of some of the other jobs included in the survey report is:
Chief Legal Officers - $181,200
Vice Presidents of Manufacturing/Production - $135,375
Chief Marketing & Sales Executives - $133,835
Chief Corporate Financial Officers - $130,066
Vice Presidents of Manufacturing/Production Engineering - $112,274
Research & Development Managers - $90,377
Engineering Department Managers/Superintendents - $89,232
Chief Human Resources Executives - $80,849
Plant Managers/Superintendents - $78,595
Product/Brand Managers - $75,789
Design Managers - $74,347
Facilities Managers - $68,198
Cost Accounting Managers - $67,161
Sales Engineers - $67,000
Manufacturing Engineers - $66,477
Production Managers/Superintendents - $65,730
Quality Assurance/Control Managers - $64,890
Computer Programmers - $61,963
Purchasing Managers - $61,805
Warehouse Managers - $54,000
General Production Supervisors - $49,781
General Accountants - $48,725
Product Designers - $45,000
Maintenance Leaders/Working Supervisors - $40,833
Drafters, Senior - $43,795
Buyers, Junior - $40,256
Secretaries to the Chief Executive Officer - $40,125
Machine Repairers, Maintenance - $39,192
Production Schedulers - $38,195
Automatic Screw Machine Operators - Multiple Spindle - $37,252
Maintenance Workers, General - $36,420
Chemical Production/Mixing Machine Operators - $35,686
Carpenters, Maintenance - $34,211
Quality Assurance/Control Technicians - $33,329
Inspectors "A" - $32,739
Secretaries - $32,500
Milling Machine Operators - $32,261
Payroll Clerks - $31,775
Numerically Controlled Machine Operators - $31,750
Customer Service Representatives - $29,787
Injection Molding Machine Set-up and Operators - $28,200
Senior Account Clerks - $27,913
Machine Set-Up Workers - $27,809
Material Handlers - $27,705
Lathe Operators, Engine or Turret - $27,690
Painters, Production - $27,619
Machinists, Production - $26,661
Junior Account Clerks - $26,449
Fork Lift Operators - $26,052
Shipping Clerks - $25,317
Finishers - $25,044
Janitors - $24,376
Receptionists - $23,795
Injection Molding Machine Operators - $23,443
Warehouse Laborers - $23,109
Drill Press Operators, Single - $21,320
The income relationships reported above may be distorted slightly, since some of these benchmark jobs were reported more frequently in organizations of one size, while other benchmark jobs were reported more frequently by larger or smaller organizations. This may also be true for product manufactured, geographic location, and supervisory/managerial responsibility. This possible defect is corrected in the complete survey report by reporting income for each benchmark job overall and with "break-outs" by each demographic variable.
Type of Product
Overall, administrative, fiscal, and information technology employees are paid best by manufacturers of communications equipment, medical/engineering/scientific equipment, stone/clay/concrete/glass products, and aerospace & aircraft products, and worst in firms producing building materials, heating/air conditioning/refrigeration products, chemical & allied products, and apparel & textile mill products.
Employees in the sales/marketing group enjoy the highest income in firms that produce chemical & allied products, paper & allied products, circuit board products, and measuring & controlling devices. Income is lowest among producers of building materials, apparel & textile mill products, rubber & plastic products, and heating/air conditioning/refrigeration products.
Clerical personnel are paid best by firms that manufacture aerospace & aircraft products, stone/clay/concrete/glass products, and chemical & allied products. They have the lowest median incomes in firms that produce heating/air conditioning/refrigeration products, circuit boards, and building materials.
Engineering/technical employees have the highest median incomes among manufacturers of aerospace & aircraft products, communications equipment, apparel & textile mill products, and medical/engineering/scientific equipment. The lowest median income is reported among manufacturers of circuit board products, building materials, and primary ferrous metals.
Maintenance/material acquisition personnel are best paid by firms that manufacture aerospace & aircraft products, stone/clay/concrete/glass products, and chemical & allied products. This group of employees are worst paid by manufacturers of apparel & textile mill products, building materials, furniture & wood products, and heating/air conditioning/refrigeration products.
Managerial and supervisory personnel in plant/manufacturing/production functions receive the highest median incomes when employed by firms producing stone/clay/concrete/glass products, measuring & controlling devices, and food/beverage products, and the lowest median incomes when employed by companies producing primary ferrous metals, computer & allied products, and furniture & wood products.
Quality assurance/control, regulatory affairs, and documentation employees are paid best by producers of measuring & controlling devices, aerospace & aircraft products, and primary ferrous metals. They are paid least by manufacturers of apparel & other textile products, rubber/plastic products, medical/engineering/scientific equipment, and circuit board products.
Production employees in firms of 250 employees or more fare best among producers of chemical & allied products, paper & allied products, fabricated metal products, and measuring & controlling devices, and worst among manufacturers of furniture & wood products, apparel & textile mill products, and building materials. Production employees in firms of under 250 employees fare best in firms which product stone/clay/concrete/glass products, machinery & heavy equipment, chemicals & allied products, and fabricated metal products, and worst among manufacturers of apparel & textile mill products, circuit board products, and communications equipment.
Level of Managerial/Supervisory Responsibility
This factor is an excellent predictor of overal
Companies like Websense sell their web filtering software to corporate clients. Their marketing material is pointing out how much productivity is lost due to employees casually surfing the web while at work. With Websense software corporations are able to restrict web surfing to certain websites and put monitoring in place. This allows to protect the corporations from malicious viruses entering the network from untrusted websites and to limit the overall Internet activity of employees to business related websites. It also allows to run specific reporting on every user and to monitor web usage on a per user base.But how much web monitoring and filtering is really helping a corporation and when is filtering getting too tight? Everyone agrees - an employee is paid a certain amount of money in return for his or her work. An employee should not be paid for surfing the web. Websense can also be useful protecting the network environment from Trojans and viruses.But a tool like Websense does not really make a difference between the employee taking a quick break after a very hectic morning and between the lazy employee surfing the web 5 hours a day. Everyone is monitored and all activity is logged. The danger with a tool like Websense is: who is running the reports and how are these reports used. Th
Computer Programmers - $61,963
Purchasing Managers - $61,805
Warehouse Managers - $54,000
General Production Supervisors - $49,781
General Accountants - $48,725
Product Designers - $45,000
Maintenance Leaders/Working Supervisors - $40,833
Drafters, Senior - $43,795
Buyers, Junior - $40,256
Secretaries to the Chief Executive Officer - $40,125
Machine Repairers, Maintenance - $39,192
Production Schedulers - $38,195
Automatic Screw Machine Operators - Multiple Spindle - $37,252
Maintenance Workers, General - $36,420
Chemical Production/Mixing Machine Operators - $35,686
Carpenters, Maintenance - $34,211
Quality Assurance/Control Technicians - $33,329
Inspectors "A" - $32,739
Secretaries - $32,500
Milling Machine Operators - $32,261
Payroll Clerks - $31,775
Numerically Controlled Machine Operators - $31,750
Customer Service Representatives - $29,787
Injection Molding Machine Set-up and Operators - $28,200
Senior Account Clerks - $27,913
Machine Set-Up Workers - $27,809
Material Handlers - $27,705
Lathe Operators, Engine or Turret - $27,690
Painters, Production - $27,619
Machinists, Production - $26,661
Junior Account Clerks - $26,449
Fork Lift Operators - $26,052
Shipping Clerks - $25,317
Finishers - $25,044
Janitors - $24,376
Receptionists - $23,795
Injection Molding Machine Operators - $23,443
Warehouse Laborers - $23,109
Drill Press Operators, Single - $21,320
The income relationships reported above may be distorted slightly, since some of these benchmark jobs were reported more frequently in organizations of one size, while other benchmark jobs were reported more frequently by larger or smaller organizations. This may also be true for product manufactured, geographic location, and supervisory/managerial responsibility. This possible defect is corrected in the complete survey report by reporting income for each benchmark job overall and with "break-outs" by each demographic variable.
Type of Product
Overall, administrative, fiscal, and information technology employees are paid best by manufacturers of communications equipment, medical/engineering/scientific equipment, stone/clay/concrete/glass products, and aerospace & aircraft products, and worst in firms producing building materials, heating/air conditioning/refrigeration products, chemical & allied products, and apparel & textile mill products.
Employees in the sales/marketing group enjoy the highest income in firms that produce chemical & allied products, paper & allied products, circuit board products, and measuring & controlling devices. Income is lowest among producers of building materials, apparel & textile mill products, rubber & plastic products, and heating/air conditioning/refrigeration products.
Clerical personnel are paid best by firms that manufacture aerospace & aircraft products, stone/clay/concrete/glass products, and chemical & allied products. They have the lowest median incomes in firms that produce heating/air conditioning/refrigeration products, circuit boards, and building materials.
Engineering/technical employees have the highest median incomes among manufacturers of aerospace & aircraft products, communications equipment, apparel & textile mill products, and medical/engineering/scientific equipment. The lowest median income is reported among manufacturers of circuit board products, building materials, and primary ferrous metals.
Maintenance/material acquisition personnel are best paid by firms that manufacture aerospace & aircraft products, stone/clay/concrete/glass products, and chemical & allied products. This group of employees are worst paid by manufacturers of apparel & textile mill products, building materials, furniture & wood products, and heating/air conditioning/refrigeration products.
Managerial and supervisory personnel in plant/manufacturing/production functions receive the highest median incomes when employed by firms producing stone/clay/concrete/glass products, measuring & controlling devices, and food/beverage products, and the lowest median incomes when employed by companies producing primary ferrous metals, computer & allied products, and furniture & wood products.
Quality assurance/control, regulatory affairs, and documentation employees are paid best by producers of measuring & controlling devices, aerospace & aircraft products, and primary ferrous metals. They are paid least by manufacturers of apparel & other textile products, rubber/plastic products, medical/engineering/scientific equipment, and circuit board products.
Production employees in firms of 250 employees or more fare best among producers of chemical & allied products, paper & allied products, fabricated metal products, and measuring & controlling devices, and worst among manufacturers of furniture & wood products, apparel & textile mill products, and building materials. Production employees in firms of under 250 employees fare best in firms which product stone/clay/concrete/glass products, machinery & heavy equipment, chemicals & allied products, and fabricated metal products, and worst among manufacturers of apparel & textile mill products, circuit board products, and communications equipment.
Level of Managerial/Supervisory Responsibility
This factor is an excellent predictor of overal
When you are starting a new business in Florida, you can set it up under sole proprietorship, a cooperative, or as a corporation. If you go with incorporating, it is the process of forming a new corporation, which can be set up as a business, a non-profit organization, or a new government of a new city or town.Setting up your business as a corporation in Florida reaps several legal benefits.A corporation is separate from your personal assets, meaning in the event of a lawsuit or filing for bankruptcy, creditors cannot go after you and claim your personal assets as compensation for the debt of your corporation. Your stockholders, directors, and officers are also protected from being held liable for the debts and obligations of the corporation. The maximum amount you or the other investors can lose is the amount you invested in the company and nothing more.The corporation is also protected from the investor?s losses as well. In the event that a stockholder incurs debt or goes bankrupt, corporate properties cannot be seized as compensation. Only his shares can be used as compensation.In a corporation, your shares of ownership can be transferred to others either as a whole or partially. It is also easier for you to set up a retirement fund under a corporation.Under a corpor
Type of Product
Overall, administrative, fiscal, and information technology employees are paid best by manufacturers of communications equipment, medical/engineering/scientific equipment, stone/clay/concrete/glass products, and aerospace & aircraft products, and worst in firms producing building materials, heating/air conditioning/refrigeration products, chemical & allied products, and apparel & textile mill products.
Employees in the sales/marketing group enjoy the highest income in firms that produce chemical & allied products, paper & allied products, circuit board products, and measuring & controlling devices. Income is lowest among producers of building materials, apparel & textile mill products, rubber & plastic products, and heating/air conditioning/refrigeration products.
Clerical personnel are paid best by firms that manufacture aerospace & aircraft products, stone/clay/concrete/glass products, and chemical & allied products. They have the lowest median incomes in firms that produce heating/air conditioning/refrigeration products, circuit boards, and building materials.
Engineering/technical employees have the highest median incomes among manufacturers of aerospace & aircraft products, communications equipment, apparel & textile mill products, and medical/engineering/scientific equipment. The lowest median income is reported among manufacturers of circuit board products, building materials, and primary ferrous metals.
Maintenance/material acquisition personnel are best paid by firms that manufacture aerospace & aircraft products, stone/clay/concrete/glass products, and chemical & allied products. This group of employees are worst paid by manufacturers of apparel & textile mill products, building materials, furniture & wood products, and heating/air conditioning/refrigeration products.
Managerial and supervisory personnel in plant/manufacturing/production functions receive the highest median incomes when employed by firms producing stone/clay/concrete/glass products, measuring & controlling devices, and food/beverage products, and the lowest median incomes when employed by companies producing primary ferrous metals, computer & allied products, and furniture & wood products.
Quality assurance/control, regulatory affairs, and documentation employees are paid best by producers of measuring & controlling devices, aerospace & aircraft products, and primary ferrous metals. They are paid least by manufacturers of apparel & other textile products, rubber/plastic products, medical/engineering/scientific equipment, and circuit board products.
Production employees in firms of 250 employees or more fare best among producers of chemical & allied products, paper & allied products, fabricated metal products, and measuring & controlling devices, and worst among manufacturers of furniture & wood products, apparel & textile mill products, and building materials. Production employees in firms of under 250 employees fare best in firms which product stone/clay/concrete/glass products, machinery & heavy equipment, chemicals & allied products, and fabricated metal products, and worst among manufacturers of apparel & textile mill products, circuit board products, and communications equipment.
Level of Managerial/Supervisory Responsibility
This factor is an excellent predictor of overal
Medical billing industry has volumes of arcane terminology and payer- and time-dependent claim validity and pricing interpretation rules, facilitating massive payments of invalid or ineligible claims and denials of error-free claims. Process transparency provides its participants greater visibility of internal process activities. An increased level of access promotes teamwork, increases client satisfaction, and assists in process streamlining.Billing process is the interaction between the participants (i.e., insurance company (payer), healthcare service provider (provider or doctor), patient, and billing service provider (biller)) designed to pay or deny a payment request (claim) submitted by the biller to the payer and to the patient on behalf of the provider. The amount and complexity of billing information make it very difficult for the doctor to maintain compliance and identify and resolve errors and underpayments.Billing service transparency allows participants of the billing process to expedite error identification and resolution, resulting in reduced over- and under-payments and improved regulatory compliance. Attributes of Billing Transparency Billing transparency has four key attributes, including universality, continuity, ubiquity, and scalability.
Managerial and supervisory personnel in plant/manufacturing/production functions receive the highest median incomes when employed by firms producing stone/clay/concrete/glass products, measuring & controlling devices, and food/beverage products, and the lowest median incomes when employed by companies producing primary ferrous metals, computer & allied products, and furniture & wood products.
Quality assurance/control, regulatory affairs, and documentation employees are paid best by producers of measuring & controlling devices, aerospace & aircraft products, and primary ferrous metals. They are paid least by manufacturers of apparel & other textile products, rubber/plastic products, medical/engineering/scientific equipment, and circuit board products.
Production employees in firms of 250 employees or more fare best among producers of chemical & allied products, paper & allied products, fabricated metal products, and measuring & controlling devices, and worst among manufacturers of furniture & wood products, apparel & textile mill products, and building materials. Production employees in firms of under 250 employees fare best in firms which product stone/clay/concrete/glass products, machinery & heavy equipment, chemicals & allied products, and fabricated metal products, and worst among manufacturers of apparel & textile mill products, circuit board products, and communications equipment.
Level of Managerial/Supervisory Responsibility
This factor is an excellent predictor of overall income in the manufacturing field. In larger firms, median income increases from $54,060 for those supervising under five professionals to $83,916 for those who direct the activities of 100 or more non-professionals, and from $72,992 for those supervising under five professionals to $95,813 for those who direct the activities of 50 to 249 professionals. Median income increases further (to $245,650) for those who direct the activities of 250 or more professionals and non-professionals.
In smaller firms, median income increases from $48,505 for those supervising under five non-professionals to $90,000 for those who direct the activities of 100 or more non-professional employees, and from $75,401 for those supervising under five professionals to $91,617 for those who direct the activities of 50 to 249 professionals. Median income increases further (to $170,000) for those who direct the activities of 100 to 249 professionals and non-professionals.
Size of Organization and Geographic Location
Median income for job families and individual jobs varies significantly by size of organization and location. While the compensation data were analyzed by size of organization and region, state, and metropolitan area, the data are too voluminous to allow for succinct commentary herein and must be left to the complete report.
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