A job in construction might not be a glamorous one, but the pay can undoubtedly give you an exciting life. Skilled work in the construction industry is becoming more in demand, and wages are rising to new heights.
Higher Wages, Better Benefits, and More Incentives
The boom in the construction industry has created a massive demand for skilled construction workers. The deregulations and lower taxes under the Trump regime allowed construction companies to take in more projects and even expand their operations. The number of projects prompted construction companies to find skilled workers wherever they can — even if that included the ranks of rival companies. Construction wages shot up, breaking the $30 per hour mark in 2018. Companies offered better benefits, whether it was better healthcare, paid leave, and many others to make sure they keep workers within their ranks. Incentive programs became popular as motivation for both new and regular workers. Bonuses upon the completion of a project are now commonplace, and sign-on bonuses for new hires are also popular. Experienced construction workers can expect to earn from $80,000 to $110,000 a year, exceeding the wages of the average tech worker.
No Lack of Demand
Construction companies are continuously hiring both skilled and unskilled workers to fill their ranks, and the current pool of workers is inadequate to fill the needs of the industry. In a survey by the Commercial Construction Index, 91 percent of all construction contractors and managers were still unable to fill their ranks as much as they would have wanted, and some were forced to delay their time tables due to the lack of sufficient personnel. The high demand for skilled workers will only grow as the years go by as the median age of construction workers is at 41, and there are very few new workers entering the industry. The majority of high school graduates would rather choose college than a trade school, and the younger generation has a negative perception of blue-collar work.
A Stable Career Path
A construction career will have you earning more money than the average office job or tech job. You won’t be spending four long years in college, and you won’t need to saddle yourself with student loans to pay off your college tuition. College is great if you are devoted to studying and planning to get a master’s degree or a doctorate or if you are planning to go into STEM (science, technology, engineering, and mathematics). However, if studying isn’t your forte or you’re more likely to learn through experience, trade school would be a better match. Construction companies often sponsor specific programs in trade schools and will often give students and graduates opportunities to work in the industry as part-time or regular employees.
The construction industry is facing a worker shortage, driving wages up and making companies compete for the limited pool of available workers. Construction jobs are now one of the most stable positions in the market as every construction company is striving to reduce or eliminate turnovers as well as actively recruit more skilled workers.