Overview of Truck Equipment Manufacturers
According to the 2005 National Truck Equipment Association (NTEA) Manufacturer Employee Compensation and Benefits Report, the average truck equipment manufacturer generates $12 million in annual revenue and employs 85 individuals.
Content of the Report
This report offers insights into compensation trends and benefits programs, providing comprehensive analyses of both executive and employee remuneration, which includes base salaries, commissions or bonuses, and benefit offerings.
Survey Insights
The data is segmented by typical NTEA member characteristics as well as by sales volume categories. Notably, 26% of respondents reported that their organizations distribute cash bonuses at year-end, while 61% provide educational assistance to employees.
Utilization of the Report
This report serves as a valuable resource for truck equipment manufacturers to assess the competitiveness of their employee compensation structures. Additionally, it assists companies in demonstrating that their compensation practices comply with the Internal Revenue Code regulations.
Survey Administration
The survey was conducted by the Profit Planning Group, a research organization based in Boulder, Colorado. Participants have received the report complimentary, while it is available for $50 to non-participating NTEA members and for $100 to nonmembers.
NTEA’s Role
Founded in 1964, the NTEA comprises nearly 1,600 firms involved in the manufacturing, distribution, installation, sale, and repair of commercial trucks, truck bodies, equipment, trailers, and related accessories. The association also includes buyers of work trucks and major commercial truck chassis manufacturers.
Benefits of NTEA Membership
NTEA offers extensive technical support, educational opportunities, and cost-saving benefits through its member programs, publications, and sponsorship of The Work Truck Show. Its administrative offices are located in suburban Detroit, with a government relations office situated in Washington, D.C.
