2024 AMBA Wage and Salary Report Unveils Industry Compensation Trends and Workforce Challenges

The American Mold Builders Association announces the release of its 2024 AMBA Wage and Salary Report. As the premier compensation study for the U.S. mold building industry, this annual report provides critical insights into wage and salary data for over 50 job functions commonly found in mold building operations.

Now in its fourteenth year, the 2024 AMBA Wage and Salary Report offers an in-depth analysis of compensation trends, including cost-of-living adjustments, incentives designed to attract qualified labor and strategies to mitigate inflation impacts and vacation benefits. This year’s report captures the continued evolution of compensation practices, helping mold manufacturing leaders benchmark their practices and make informed decisions.

The 2024 report is based on data from 89 U.S. mold builders, representing nearly 4,000 employees. While respondents span the country, the majority are located in the Midwest, reflecting the geographic concentration of the industry. This year’s findings reveal that wages and salaries across the industry continue to rise, though at a slower pace than both inflation and the broader U.S. manufacturing sector.

Additionally, the report sheds light on key compensation trends impacting the U.S. mold building workforce. It explores that 62% of industry job categories experienced year-over-year wage increases. While the average growth across all positions was modest at 1.0%  — a deceleration compared to recent years— this trend reflects the impact of current-year inflation, tempered by a decline in demand for workers. As workforce participation and unemployment rates stabilize to pre-pandemic levels, mold building employers face a less competitive labor market than in the immediate post-pandemic years.

The 2024 AMBA Wage and Salary Report is an essential resource for mold building executives, providing benchmarks for wages, gross margins, vacation benefits, five-year compensation trends and more. To purchase the 2024 report, visit https://amba.org/publications/browse/. Additionally, join the AMBA for a webinar on January 14 from 12-1 EST, where the AMBA Benchmarking Team and Adam Primm, Benesch Law, will present data drawn from the report. You can register here: amba.org/events.