NAHB Report: The highest paid construction trades in 2018
Who makes the most in construction?
 |
| A report just published by the NAHB shows that in 2018 wages for construction trades professionals rose an average of 3.2 percent year over year, with some trades such as plasterers climbing 7 percent. Across all construction trades, the median wage was $38,640, while the top 25 percent earned at least $62,510. |
Half of payroll workers in construction earn more than $47,290 and the top 25% make at least $66,290, according to the 2018 Bureau of Labor Statistics Occupational Employment Statistics Survey data and analysis by NAHB. In comparison, the U.S. median wage is $38,640, while the top 25% makes at least $62,510.
Year-over-year, median wages in construction outpaced the national median wages, 3.2% vs 2.5%. Wages of various construction trades, laborers and helpers rose even faster, ranging from about 7% for plasterers, stucco masons, roofers’ helpers, tapers and floor layers to 3.6% for construction laborers.
Stonemasons saw their wages rise by more than 6% and terrazzo workers received wage hikes of more than 5%.
Historically, subcontractor bids increase faster than construction wages, adding more inflationary fuel to housing prices. These findings are consistent with record high labor shortages that are causing builders to pay higher wages and subcontractor bids and forcing them to increase home prices.
Among construction trades, elevator installers top the median wages list with half of them earning over $78,990 a year, and the top 25% making at least $100,720.
The median wages for rotary drill operators is close to $70,000, with the top quartile of the pay scale earning over $77,610 annually.
First-line supervisors of construction trades are next on the list, with half of them making over $64,600.
Boilermakers are a close fourth-highest paid construction craft. Half of these craftsmen working in construction earn over $64,480, and the highest paid 25% bring in over $78,250.
In general, construction trades that require more years of formal education, specialized training or licensing tend to offer higher annual wages.
The median wages of construction and building inspectors are $60,240 and the wages in the top quartile of the pay scale exceed $80,580.
Half of electricians and plumbers in construction earn over $53,540, with the top quartile making over $71,300.
Carpenters are one of the most prevalent construction trades in the industry. Though the trade requires less formal education, the median wages of carpenters exceed the national median. Half of carpenters working in construction earn over $46,810, and the highest paid 25% earn at least $61,810 annually.
NAHB economist Natalia Siniavskaia provides more analysis in an Eye on Housing blog post.
Source: www.NAHBnow.com
CONTRACTOR SUPPLY MAGAZINE
The April/May 2024 issue of Contractor Supply magazine is here!
This digital edition is sponsored by BECK AMERICA Inc.
Our cover story, Masters of Fasteners, visits Interstate Screw Corp. of metro Miami, which serves the fastening needs of south Florida, the Caribbean and Central and South America.
Also in this issue,our Industry Updates cover Adhesives, Tapes and Sealants, Anchoring Systems and Safety and PPE.
This digital edition is fully searchable and contains live links to every advertiser and new product listing. Click away!
