Engineering Salaries. on the Rise. In the 2012 Engineering Income and Salary Survey, conducted by the American Society of Mechanical Engineers (ASME) and the American Society of Civil Engineers (ASCE), we look at the state of salaries and the job market in the field of engineering.
Compensation is a systematic approach to providing monetary value to employees in exchange for work performed. Compensation may achieve several purposes assisting in recruitment, job performance, and job satisfaction.
Definition of Compensation. To survive in a complex, competitive global economy all organization (public and private) must be able to focus on the effective and efficient supply of goods and services. A key factor in promoting effective delivery of goods and services is provision of a performance base compensation system to the employees.