Friday, Nov. 16, 1962
Who Earns What
Salaries of middle-echelon executives rose only 2.7% in fiscal 1962, exactly the same as the rise in blue collar manufacturing wage rates. The Labor Department reported this week that its survey of more than 1,700 big companies showed that middle-echelon salaries run highest in manufacturing, utilities, wholesale trade and engineering. They scrape bottom in retail trade, finance, insurance.
Best paid of hired help are corporate attorneys, who begin straight out of law school at an average $6,552 a year and scale steadily up to $22,392 as chiefs of their legal departments. Engineers do better as beginners, at $6,708, but not quite so well when they become top-bracket veterans, averaging $19,572.
Other averages for beginners and top-scale veterans:
Auditors: $5,340 and $9,840
Office Managers: $7,380 and $12,264
Personnel Managers: $6,096 and $15,096
Chief Accountants: $9,972 and $15,192
Chemists: $6,120 and $18,984
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