The Steel Industry Wage Bureau began as the Cooperative Wage Bureau (CWB). CWB was an unincorporated association, which did its business under the management of American Associated Consultants, Inc., located in New York City. All receipts, disbursements and taxes were handled in the name of American Associated Consultants, Inc., and CWB was operated as a division of that corporation through an agency-consulting basis. This structural organization existed from March 2, 1948 to December 31, 1976. The termination of the CWB as a part of American Associated Consultants, Inc. was done to obtain the benefits of the Pennsylvania Non-Profit Corporation Law, and to obtain complete independence of operation for the new corporation.

In December 1976 CWB filed incorporation papers as a non-profit corporation, renaming the organization as the Steel Industry Wage Bureau. The corporation was located in Pittsburgh, PA, and the Steel Industry Wage Bureau assumed effective January 1, 1977 the functions performed and services rendered by American Associated Consultants, Inc. The Bureau's by-laws described the organization's purposes as: a) to maintain up-to-date files and data concerning all job descriptions and classifications established for jobs in the plants of the corporation's members; b) to keep said members informed of all information concerning job descriptions and classifications affecting the metal producing, fabricating and manufacturing industry and to take such action with respect thereto as may be deemed necessary to promote the general welfare of the industry; and c) to engage in research and study with respect to job description and classification procedures and related areas of study of interest to the said industry in order to develop progressive employment standards beneficial to the industry and otherwise to promote research in employment technology.

Due to declining membership, in the fall of 2000 the Steel Industry Wage Bureau proposed merging into the American Iron and Steel Institute's Employee Relations Committee, as a sub-committee. The merger was pursued during 2001, and on September 30, 2001 the Steel Industry Wage Bureau closed its Monroeville office and moved into the Steel Recycling Institute office assuming a merger with the American Iron and Steel Institute was imminent. However, on October 22, 2001 the SIWB was notified that the AISI would be unable to effect a merger as continuing financial hardships within the industry were forcing personnel reductions and other related cost cutting measures at AISI. At a special Board of Directors meeting, the decision was made to permanently close the Bureau. The final business actions, performed in the spring of 2002, included providing the active membership with copies of the Bureau's Standard Title and Code Handbook and a set of CD-ROMs containing 20,000 Job Descriptions and Classifications, and disposing of remaining financial assets by refunding the previous year's dues to member companies.