As compensation for labor and staff continues to rise, executives are keeping pace and garnering some of the biggest pay increases seen in the C-suite in over 15 years. After a strong rebound in executive compensation between 2020 and 2021, many companies provided another significant bump in pay in 2022.
Going into 2022, construction firms predicted that base pay for executives would increase by 4.25%, according to data from industry compensation research firm PAS. That forecast held steady with 2021 compensation, which showed a 4.3% average bump in base pay.