With the end of 2024 approaching, NAHB’s Eye on Housing is reviewing the posts that attracted the most readers over the last year. In April, Natalia Siniavskaia shared wages by occupation in construction including the median salaries and top 25% salaries.
Half of payroll workers in construction earn more than $58,500 and the top 25% make at least $79,450, according to the latest May 2023 Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS) and analysis by the National Association of Home Builders (NAHB). In comparison, the U.S. median wage is $48,060, while the top quartile (top 25%) makes at least $76,980.
The OES publishes wages for almost 400 occupations in construction. Out of these, only 46 are construction trades. The other industry workers are in finance, sales, administration and other off-site activities.
The highest paid occupation in construction is Chief Executive Officer (CEO) with half of CEOs making over $172,000 per year. Lawyers working in construction are next on the list with the median wages of $166,450, and the top 25 percent highest paid lawyers making over $221,220. Out of the next ten highest paid trades in construction, eight are various managers. The highest paid managers in construction are architectural and engineering managers, with half of them making over $145,180 and the top 25 percent on the pay scale earning over $176,270 annually.
Among construction trades, elevator installers and repairers top the median wages list with half of them earning over $103,340 a year, and the top 25% making at least $129,090. First-line supervisors of construction trades are next on the list; their median wages are $76,960, with the top 25% highest paid supervisors earning more than $97,500.
In general, construction trades that require more years of formal education, specialized training or licensing tend to offer higher annual wages. Median wages of construction and building inspectors are $65,790 and the wages in the top quartile of the pay scale exceed $88,800. Half of plumbers in construction earn over $61,380, with the top quartile making over $80,300. Electricians’ wages are similarly high.
Carpenters are one of the most prevalent construction crafts in the industry. The trade requires less formal education. Nevertheless, the median wages of carpenters working in construction exceed the national median. Half of these craftsmen earn over $57,300 and the highest paid 25% bring in at least $73,800.
The OEWS program adopted a new estimation methodology in 2021. As a result, the previously published estimates are not directly comparable to the post-pandemic editions. Nevertheless, comparing the median wages in construction over the last two years reveals that, on average, lower-paid occupations experienced a somewhat faster wage growth. Median wages of drywall installers, for example, grew 11%. Moreover, the overall construction median increased 7.3%, one of the largest increases among all industries.
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Budget can be a major cause of problems during a project, particularly when initial costs increase during the process.
Solution: “It’s best to ask clients for their budget, so you can work around that,” says Saimir Zejneli of The Home Refurbishment Co. He believes this is the best way to avoid wasting time or causing problems later on.
“It’s easy to get into a dispute with clients if the [finish work] is included in the quote, as clients are likely to choose more expensive products,” Zejneli adds.
He recommends setting a budget for just the roughing in. For example, a kitchen budget might include supply of the kitchen cabinets, electrical and plumbing, but the client would choose items such as appliances, faucets, sinks and tile.
“You can give clients the links of traders you have accounts with to get a discount, but when they’re able to decide on their own [finish] materials, they’re in control of their budget,” he says.