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Slight Gain Seen in Average Annual Salaries in the United States and United Kingdom, with a Larger Increase for Canada
The results of this year's annual corrosion career and salary survey sponsored by Materials Performance (MP) magazine bring some good news for corrosion professionals in the United States, Canada, and United Kingdom-the average annual salaries reported in 2016 for those regions rose slightly to reach new highs. This continues an upward trend previously seen for the United States and Canada for the past six years (Table 1). Although the average annual salary reported for Europe is lower than last year's, it is still higher than those reported in 2011 through 2014 for this region.
Including salary and bonuses, the average annual U.S. compensation is $115,203, which is a slight increase of 1.29% over the average annual salary of $113,734 reported in 2015, but less than last year's increase of 4.71%. The Canadian average annual taxable income this year is CAN$126,907, a 4.42% increase over last year's average annual salary of CAN$121,538 and higher than the ~0.88% increase experienced by Canadian respondents in 2015. The average annual European salary declined this year to euro73,000, down by ~4.13% from last year's reported average annual salary of euro76,147 and contrary to the 13.75% increase in average annual salary reported for Europe in 2015. The average annual salary for survey participants in the United Kingdom is £76,738, up 1.38% from £75,690 reported in 2015 and a turnaround from the decline (-3.81%) seen last year.
The 2016 survey results indicate that the average annual salaries for the United States, Canada, and United Kingdom are all above average when compared to the U.S. mean annual wage for engineers reported for May 2015 by the U.S. Bureau of Labor and Statistics,1 which is US$95,240.
When converted to U.S. dollars-US$1 equaled CAN$1.2815, euro0.8801, and £0.6918 using currency exchange rates at press time (June 6, 2016)2-the average annual salaries can be ranked as follows:
* United States: $115,203
* United Kingdom: $110,932
* Canada: $99,039
* Europe: $82,943
Earnings Comparisons
The percentage of U.S. respondents in several annual earnings ranges generally increased or remained the same compared to last year. Survey results indicate that 74% earned $80,000 or more (compared to 72% last...