Key Takeaways
- 45% of the aerospace workforce is over 55 years old in 2023
- Women represent 22% of the total aerospace employees globally
- 28% of aerospace engineers are from underrepresented minorities in the US
- 72% of aerospace firms report talent shortages in 2023
- Time-to-hire for aerospace engineers averages 65 days
- 55% use AI tools for aerospace candidate screening
- Retention rate in aerospace averages 82%
- Voluntary turnover rate is 9.2% annually
- 68% cite work-life balance as key retention factor
- 45% of aerospace employees receive 40+ hours training yearly
- 67% invest in upskilling for digital twins tech
- Apprenticeship programs train 15% of workforce
- Average aerospace engineer salary is $128,000 in 2023
- 85% offer health insurance coverage
- Bonus pay averages 12% of base salary
The aging aerospace workforce faces talent shortages despite growing diversity and pay incentives.
Compensation and Benefits
- Average aerospace engineer salary is $128,000 in 2023
- 85% offer health insurance coverage
- Bonus pay averages 12% of base salary
- 401(k) match at 4.5% average
- Paid time off averages 20 days yearly
- Equity grants to 67% of executives
- 92% provide tuition reimbursement up to $5K
- Overtime pay premium 1.5x for hourly workers
- 78% offer mental health benefits
- Average total comp for directors $250K
- 55% gender pay gap narrowed to 8%
- Relocation packages average $20K
- 88% life insurance 2x salary
- Performance incentives for 76% of staff
- 42% offer student loan repayment aid
- HSA contributions average $1,000 employer
- 69% childcare subsidies provided
- Long-term disability at 60% salary replacement
- 5% annual merit increase average
- 94% dental coverage standard
- Profit sharing in 51% of companies
- 33% offer pet insurance
- Executive perks total $50K avg value
- 76% vision benefits included
- Commuter benefits save employees $2K/year
- 62% ESOP participation
- Shift differentials 10% for night work
Compensation and Benefits Interpretation
Demographics
- 45% of the aerospace workforce is over 55 years old in 2023
- Women represent 22% of the total aerospace employees globally
- 28% of aerospace engineers are from underrepresented minorities in the US
- Average age of aerospace manufacturing workers is 47 years
- 15% of aerospace professionals identify as veterans
- 62% of aerospace workforce holds a bachelor's degree or higher
- Hispanic/Latino workers make up 12% of the US aerospace sector
- 8% growth in female STEM graduates entering aerospace since 2018
- 35% of entry-level aerospace roles filled by Gen Z in 2023
- Black/African American representation is 7% in aerospace engineering
- 51% of aerospace executives are Baby Boomers
- Asian employees comprise 18% of the aerospace R&D workforce
- 24% of aerospace technicians are under 35 years old
- LGBTQ+ identification among aerospace workers is 5%
- 40% of aerospace workforce in the US South region
- Disability representation stands at 4% in aerospace firms
- 67% white/Caucasian in US aerospace manufacturing
- Millennials account for 38% of mid-level managers
- 11% increase in international hires in aerospace since 2020
- 29% of aerospace pilots are female in commercial sector
- Union membership is 14% among aerospace workers
- Rural area employment in aerospace grew 9%
- 52% of aerospace software engineers are immigrants
- Veteran women in aerospace rose to 3%
- 33% of workforce in high-skill roles over 50
- Indigenous representation is 1.2% in Canada/US aerospace
- 44% part-time or contract workers in aerospace supply chain
- 19% growth in young female engineers 2020-2023
- 6% of leadership roles held by people of color
- Average tenure of aerospace employees is 8.5 years
Demographics Interpretation
Recruitment and Talent Acquisition
- 72% of aerospace firms report talent shortages in 2023
- Time-to-hire for aerospace engineers averages 65 days
- 55% use AI tools for aerospace candidate screening
- 41% of hires come from university partnerships
- Campus recruiting yields 28% of new aerospace talent
- 63% prioritize skills over degrees in hiring
- Referral programs account for 35% of aerospace hires
- 49% use LinkedIn as primary sourcing tool
- Diversity hiring goals met by 52% of firms
- 78% report difficulty hiring skilled machinists
- Virtual interviews adopted by 88% post-pandemic
- 34% increase in contract-to-hire conversions
- 61% partner with community colleges for talent
- Employer branding boosts applications by 25%
- 47% use gamified assessments in recruitment
- H1B visas fill 22% of engineering gaps
- 59% offer relocation assistance for hires
- Intern-to-full-time conversion rate is 70%
- 53% face competition from tech for talent
- Predictive analytics used by 42% for hiring forecasts
- 66% prioritize cybersecurity skills in hires
- Female candidate pool grew 18% via targeted ads
- 75% of firms increased recruiting budgets 15%
- Gig economy workers fill 12% of short-term needs
- 51% use VR for remote candidate assessments
Recruitment and Talent Acquisition Interpretation
Retention and Turnover
- Retention rate in aerospace averages 82%
- Voluntary turnover rate is 9.2% annually
- 68% cite work-life balance as key retention factor
- Top performers turnover costs $250K per employee
- 74% offer flexible hours to retain staff
- Employee engagement scores average 71/100
- 55% of exits due to career development lacks
- Retention bonuses implemented by 62% of firms
- Burnout affects 43% leading to turnover
- Mentorship programs reduce turnover by 20%
- 81% stay longer with clear promotion paths
- Remote work options retain 67% of millennials
- Exit interviews reveal pay as 29% reason
- DEI initiatives boost retention by 15%
- 52% turnover in first year for new hires
- Wellness programs cut turnover 12%
- 76% loyal due to company culture fit
- High-performer retention at 89%
- 37% leave for better opportunities elsewhere
- Alumni rehiring rate is 24%
- Predictive turnover models used by 48%
- Family leave policies retain 65% post-leave
- 69% value recognition for staying
- Turnover peaks at 11% in Q4 annually
- Leadership training reduces exec turnover 18%
- 83% retention with stock options
- Training ROI improves retention 22%
Retention and Turnover Interpretation
Training and Skill Development
- 45% of aerospace employees receive 40+ hours training yearly
- 67% invest in upskilling for digital twins tech
- Apprenticeship programs train 15% of workforce
- 52% use online platforms for compliance training
- Leadership development covers 28% of managers
- 78% require cybersecurity certification renewals
- VR simulations train 41% on assembly lines
- 34% budget increase for STEM training
- Micro-credentials earned by 29% of engineers
- 61% participate in cross-functional training
- Soft skills training for 55% of staff yearly
- 73% trained on sustainable aviation practices
- Onboarding training averages 4 weeks
- 48% use AI for personalized learning paths
- Certification completion rate 92% for safety
- 39% reskill for additive manufacturing
- Diversity training reaches 82% of employees
- 56% annual training spend per employee $2,500
- Gamification boosts training retention 30%
- 64% partner with universities for advanced training
- Hybrid learning adopted by 71%
- 27% trained in agile methodologies
- Mentoring pairs 44% of new hires
- 85% compliance with annual recertification
- Data analytics skills trained for 53%
- 62% ROI from leadership programs
- Entry-level training costs $15K per hire
Training and Skill Development Interpretation
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