If you're considering a career in construction management, one of the questions you may be asking is, "How much does a construction manager make?" It's an important question to consider when deciding on a career path, as salary is often a major factor in determining job satisfaction and financial stability. In this blog post, we'll explore the average and starting salary range for construction managers, as well as the factors that can influence salary variations. We'll also discuss additional compensation and benefits, the top paying industries for construction managers, and how to increase your pay after becoming a construction manager.

What is a Construction Manager?

Before we dive into the salary details, let's first define what a construction manager is. A construction manager is responsible for planning, coordinating, and overseeing construction projects from start to finish. They work closely with architects, engineers, and contractors to ensure that projects are completed on time, within budget, and according to specifications. Construction managers are also responsible for managing and coordinating the work of subcontractors, ensuring compliance with building codes and regulations, and ensuring the safety of workers on the job site.

Average and Starting Salary Range for Construction Manager

The average salary for construction managers varies depending on factors such as experience, education, location, and the size and complexity of the projects they manage. According to the Bureau of Labor Statistics (BLS), the median annual wage for construction managers was $97,180 as of May 2020. The lowest 10 percent earned less than $57,350, while the highest 10 percent earned more than $166,790.

Starting salaries for construction managers can vary widely depending on factors such as education and prior experience. Entry-level construction managers typically earn less than the median wage, with starting salaries ranging from $50,000 to $70,000 per year. However, with experience and additional certifications, construction managers can see their salaries increase significantly over time.

Factors Influencing Salary Variations

Several factors can influence the salary variations among construction managers. Some of these factors include:

• Experience: Construction managers with more experience generally earn higher salaries. As they gain more experience and expertise, they are often entrusted with larger and more complex projects, which can lead to higher pay.
• Education: While a bachelor's degree in construction management or a related field is not always required for entry-level positions, it can increase your earning potential. Construction managers with advanced degrees or additional certifications may also earn higher salaries.
• Location: The cost of living and demand for construction managers can vary greatly depending on location. Construction managers working in major metropolitan areas or regions with a high demand for construction may earn higher salaries than those in rural areas.
• Size and complexity of projects: Construction managers who handle larger and more complex projects may earn higher salaries. Managing high-rise buildings or large commercial projects often comes with increased responsibilities and higher pay.

Additional Compensation and Benefits

In addition to their base salary, construction managers may receive additional compensation and benefits. Some common forms of additional compensation and benefits include:

• Bonuses: Construction managers may receive performance-based bonuses for meeting project deadlines, staying within budget, or achieving other performance goals.
• Profit sharing: Some construction companies offer profit-sharing programs, where construction managers receive a portion of the company's profits in addition to their base salary.
• Health insurance and retirement benefits: Many construction companies offer health insurance and retirement benefits to their employees, including construction managers.
• Paid time off: Construction managers may receive paid vacation days, sick leave, and holidays.

It's important to note that the availability and amount of additional compensation and benefits can vary depending on the company and industry.

Top Paying Industries for Construction Managers

While construction managers can work in a variety of industries, some industries tend to pay higher salaries than others. According to the BLS, the top paying industries for construction managers as of May 2020 were:

1. Oil and gas extraction: Construction managers in the oil and gas extraction industry earned a median annual wage of $144,800.
2. Electric power generation, transmission, and distribution: Construction managers in the electric power generation, transmission, and distribution industry earned a median annual wage of $130,170.
3. Management of companies and enterprises: Construction managers working in management of companies and enterprises earned a median annual wage of $120,540.
4. Architectural, engineering, and related services: Construction managers in the architectural, engineering, and related services industry earned a median annual wage of $113,730.
5. Local government, excluding education and hospitals: Construction managers working for local government agencies earned a median annual wage of $101,010.

How to Increase Pay After Becoming a Construction Manager

If you're already working as a construction manager and looking to increase your pay, there are several steps you can take:

1. Gain additional certifications: Earning additional certifications, such as the Certified Construction Manager (CCM) or the Project Management Professional (PMP) certification, can demonstrate your expertise and increase your earning potential.
2. Pursue advanced education: Consider pursuing an advanced degree in construction management or a related field. An advanced degree can open up opportunities for higher-level positions and increased pay.
3. Seek out higher-level projects: Look for opportunities to work on larger and more complex projects. Managing high-profile projects can lead to increased responsibilities and higher pay.
4. Network and build relationships: Networking with other professionals in the construction industry can lead to new job opportunities and connections that can help you advance your career.
5. Stay up-to-date with industry trends: Stay informed about the latest trends and advancements in the construction industry. Continuing education and staying current with industry best practices can make you a more valuable asset to employers.

Final Thoughts

As a construction manager, your salary can vary depending on factors such as experience, education, location, and the size and complexity of the projects you manage. While the median annual wage for construction managers is around $97,180, starting salaries typically range from $50,000 to $70,000 per year. By gaining experience, additional certifications, and pursuing higher-level projects, you can increase your earning potential as a construction manager. If you're interested in pursuing a career in construction management, platforms like Dreambound can help you find the right training programs to get started on your career path. Dreambound is the largest platform for students to find vocational training programs, such as allied health or industrial trades. Their mission is to provide all the information students need to find the perfect class.

Dreambound has written many guides to help you understand what it takes to get this certification. If you're curious about the process or requirements in different states, check out our other guides below:

• How to Become a Construction Manager in Alabama
• How to Become a Construction Manager in Hawaii
• How to Become a Construction Manager in New Hampshire
• How to Become a Construction Manager in North Dakota
• How to Become a Construction Manager in West Virginia

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