Considering a job in construction? The industry has a long history; after all, buildings and roads have been required since the earliest days of civilization. In those days, the trade and barter system that was in place traded mainly goods for goods; construction was one of the first industries that traded goods for services. Over time, as buildings became more elaborate, the need for skilled artisans grew and the construction industry was one of the first to demand money as compensation for services.
The demand for skilled construction workers has grown over the past several hundred years as technology has changed and evolved. The Industrial Revolution created the first wave of demand, as the world’s population grew, especially in urban areas, creating the need for more housing and buildings.
The construction industry, like many others, is subject to the vicissitudes of the economy. While construction industry growth has been curtailed in recent years, demand is expected to pick back up as the economy rebounds.
The History of Construction: From Victorian Mansions to Skyscrapers
Improved metal-working techniques and the rise of factory labor led to a boom in construction during the late 18th and early 19th centuries. Both innovations allowed construction workers to work more quickly, as they no longer had to build certain components for housing by hand. Advancements in the field of architecture also meant that buildings could be more elaborate than in previous eras.
When steel and concrete were developed and implemented into construction design, the industry evolved farther. Concrete was cheaper than brick, which made building much less expensive. Steel beams reinforced buildings, meaning that structures could be made taller and more expansive, and still remain strongly reinforced by their strong interior frames.
After WWII ended, the American Interstate Highway system was implemented, which allowed for the creation of suburbs and urban sprawl. This led to a boom in the housing industry, and builders were able to capitalize on the boom by building homes using basic designs and inexpensive materials to supply the demand for new homes quickly. At the same time, the newly formed highway system made access between cities easier, creating a demand for more buildings in urban areas.
The home loan industry took a heavy hit in 2007, with the onset of the recession. The home construction and building construction industries are beginning to show signs of recovery, though, as demand is rising for green homes, manufactured homes, and custom homes.
The Current State of the Construction Industry
Currently, the field is heavily dominated by men; in fact, 91% of all construction employees are male. Typical job benefits include medical insurance (80%), vision benefits (40%), and dental insurance (58%). Only 19% of construction workers receive no medical or other types of benefits.
The typical construction worker makes $28, 516 a year with just a high school GED.
Usually, construction workers retire around the age of 61 and there is an unemployment rate of 5% in the industry. Of course, education levels vary and can boost your salary accordingly:
- Bachelor of Science, Construction Management – $57,607 to $87,724
- Bachelor of Science – $52,218 to $89,264
- Bachelor of Science, Civil Engineering – $60,289 to $91,964
- Bachelor of Arts – $50,042 to $91,964
- Construction Management – $53,324 to $83,757
The most popular industries for construction can provide very lucrative salaries:
- Construction – $54,571 to $84,373
- General Contractor – $52,342 to $80,248
- Electrical Contractor/Electrician – $57,314 to $89,301
- Commercial Construction – $54,177 to $82,771
- Mechanical Contractor – $53,474 to $81,692
The Construction Industry: The Future
In the past, the most common construction job was projection manager for construction, which had a salary range of $53,811 to $92,667. In the future, the most popular jobs will likely be construction manager, with a salary of $53,917 to $95,901; operations manager, with a salary of $43,663 to $76,402; and vice-president of construction management operations, with a salary of $94,895 to $166,191.
In 2008, 1,248,700 people were employed within the construction industry. By 2018, that number is expected to grow to 1,504,600, which is a change of 20%. With salaries that could range between $53,811 and $86,487 (including bonuses, profit sharing, and commissions) construction is a lucrative field with a healthy growth rate.