Rising Salaries in the Construction Industry
Life as a contractor is never simple. From managing project timelines to ensuring that supply orders come to fruition to maintaining a safe jobsite and complying with countless laws and policies, a contractor’s work is truly never over. In addition, you need to focus on your bottom line to ensure that there’s something left for you after all workers, subcontractors, and materials suppliers have been paid. Plus, a recent survey conducted by the National Center for Construction Education and Research (NCCER) indicates that the average salaries of construction professionals are on the rise which means keeping good workers on your team is more difficult than ever. In this article, a Jacksonville construction attorney from Cotney Attorneys & Consultants will discuss how rising salaries in the construction will affect your work as a contractor.
A Positive Outlook for Careers in Construction
NCCER, a nonprofit organization that works to bring more skilled workers into the construction industry, surveyed over 130 companies about their employees’ earnings to build a clearer picture of the outlook on careers in construction. The results of that survey indicate a positive outlook and did not include overtime, bonuses, or incentive pay. Of the 32 categories of workers surveyed, some of the highest salaries included:
- Project managers averaged an annual salary of $92,523.
- Project supervisors averaged an annual salary of $88,355.
- Combo welders averaged an annual salary of $71,067.
- Instrumentation technicians averaged an annual salary of $70,080.
- Pipe welders averaged an annual salary of $69,222.
- Power line workers averaged an annual salary of $68,262.
- Industrial electricians averaged an annual salary of $67,269.
- Millwrights averaged an annual salary of $66,919.
- Tower crane operators averaged an annual salary of $66,329.
- Mobile crane operators averaged an annual salary of $66,119.
- 19 of the 32 categories of workers surveyed earned an average annual salary of $60,000 or more.
Comparing the Results to NCCER’s 2015 Survey
Overall, there was a considerable uptick in the annual salaries for many construction-related professions. For example, the annual salary for HVAC technicians rose 20 percent ($52,026 to $62,472) since the last survey in 2015. Similarly, the average annual salary for sheet metal workers rose from $49,189 in 2015 to $58,160 in 2018 (18 percent gain). Other notable increases included:
- Plumbers ($51,804 to $59,627; 15 percent gain)
- Scaffold builders ($47,166 to $52,990, 12 percent gain)
Unfortunately, some professions experienced a dip in annual pay since 2015 such as riggers, sprinkler fitters, welders, structural fabricators, and heavy equipment operators.
As the demand for skilled workers continues to rise, it’s vital that contractors are vigilant when tracking their expenses. Fortunately, a Jacksonville construction attorney can ensure that you are protected against costly legal disputes and citations, so you can focus on investing your capital into projects that continue to grow your business
If you would like to speak with Jacksonville construction attorneys, please contact us today.
Disclaimer: The information contained in this article is for general educational information only. This information does not constitute legal advice, is not intended to constitute legal advice, nor should it be relied upon as legal advice for your specific factual pattern or situation.