Right here’s the tradeoff for workers within the automotive retail sector in america: lengthy hours for more cash.
Much more cash, truly.
Within the latest Automotive News Dealership Salary Survey, car retail professionals pulled in an annual common pay of $200,200 final 12 months — almost 3 times larger than what the typical American made in 2022.
However there was a “however,” the survey confirmed: That quantity of earnings required devoting a 50-hour-plus workweek. And it reported a major disparity in pay between women and men in the identical discipline, with males making almost $219,000 and girls making solely 66 p.c that a lot — amounting to a yearly distinction of $74,300.
The report’s science is considerably questionable. Business commerce journal Automotive Information famous that it isn’t complete of all dealership worker pay. Extra managers responded to the survey than workers, and the typical respondent had greater than 27 years within the business, indicating larger pay.
Additionally, the Automotive Information Dealership Wage Survey’s respondents had been 85 p.c male and 13 p.c feminine. Automotive Information and companion agency Analysis + Data = Insights surveyed greater than 1,000 franchised dealership professionals from Aug. 1 to Oct. 26 throughout final 12 months.
Relating to hours, males stated that they clocked a mean of 52.2 hours every week, and girls 49.7 hours. In distinction, the typical U.S. worker spent 38.6 hours at work in 2022, in accordance with the newest Census Bureau knowledge shared by the U.S. Bureau of Labor Statistics. “Youthful generations battle with hours, strain and targets,” a Technology X normal supervisor at a Mercedes-Benz retailer in Ohio stated within the survey.
Advantages compensated for a few of these points, nonetheless. Almost two-thirds of the retail workers surveyed reported an employer match or fee right into a retirement plan, and a minimum of half reported having staff’ compensation, paid sick depart, household reductions on autos, and life insurance.
A couple of third stated that they believed the business supplied them good profession prospects. A number of respondents additionally submitted feedback noting they entered the enterprise for the cash. “I wanted a job that paid higher than McDonalds, and that was that,” wrote an city Florida dealer principal at a retailer promoting Hyundai, Genesis, Chrysler, Jeep and Subaru autos. Amongst model varieties, luxury vehicle dealerships paid on common the best salaries, with $222,600 anticipated for his or her staff in 2023, the survey stated.
The total report, together with related chart knowledge, may be accessed here. A subscription is required.