Wages Up Slightly for OKC

Article excerpt

By Darrell Morrow Feature Editor Wages and salaries and market job value figures in the Oklahoma City area increased only slightly during the past year, according to the 1991 Oklahoma City Area Compen- sation Survey. Weighted average salaries, a figure most reflective of the averages paid, increased 4 percent from the 1990 report figures, said Gary Keuter, compensation supervisor at Oklahoma Gas and Electric Co., who analyzed and assembled the survey results for the Oklahoma City Human Resource Society. The society, which has published the survey since 1989, released its 1991 results Thursday. The 1991 survey contains com- pensation data and practices of 46 employ- ers covering 72 jobs common to many industries and representing more than 15,100 employees, the society reported. The survey is based on figures reported Jan. 31. "The weighted average and control point (or job value) figures are pretty good numbers for comparison. If you are looking at numbers to actually show people's pay, look at the weighted average. If you are looking at assigning a value to a job, look at the control figure," Keuter said. "The weighted average is more realistic to what is being paid to the people out there. Normally the control point figure is going to be a little above the weighted average, because most of the people haven't gotten to that level." Kueter explained the weighted average as "essentially the number of employees in a job divided by the total salary. If you have two people getting $10 an hour in a company, and three people paid $5 an hour in another company, the median average of the two companies would be $7 an hour." The survey shows, for instance, that the median average pay for an accountant is $11.81, compared with the control point, or market job value, of $13.67, which employers generally consider their top level. The weighted average last year was $11. …