Construction salary can be difficult to determine as you must weigh a number of factors. However, you can rely on a wide range of tools to help you set compensation wages and policies.
Construction pay is subject to bad weather or downturns in the economy that affect construction activity and then spur layoffs. Salaries also reflect position, experience and leadership. For example, construction management salary is going to be greater than the salary of other workers.
When determining pay, consider this construction industry salary information:
1. Construction labor requires a variety of skills, but some projects require specialized training and experience that should be factored into construction industry compensation.
2. Most workers will learn on the job, but formal apprenticeship or internship programs provide the best opportunities and may advance a worker to receive construction management salary.
3. Location will affect salaries in the construction industry, but in many areas there will be competition for jobs requiring limited skills.
Action Steps
The best contacts and resources to help you get it done
Research current construction pay structures
A number of websites offer salary survey information. Many offer basic information for free while providing more detailed findings for purchase. Look at each individual building project separately when determining the amount of workers needed, and then figure wages.
I recommend: Find base salary, bonus and benefits information for construction and installation positions on
Salary.com. Order a salary report from
PayScale. Be sure to view a sample report and ordering options.
Keep up to date on industry news as it relates to construction salaries
The construction industry is changing constantly. Keep up with the trends so you can stay on top of your business.
I recommend: Sign up for a free construction newsletter from
AGC SmartBrief. Check out the free e-mail newsletter from
Markup & Profit; if you like what you see, click to subscribe.
Look into software options to set construction salary
Make technology work for you by looking into software options when it comes to setting wages. Many software packages exist to help you with your business compensation needs.
I recommend: Read up on
Halogen Software's eCompensation system; then consider ordering a free trial, scheduling a demo or going through a product tour. Compare construction software at
2020software.com. Many construction management software services also feature labor components, an important benefit in the construction industry.
Tips & Tactics
Helpful advice for making the most of this Guide
- You can get creative when it comes to setting construction industry salaries. Consider the new trend of paying workers a flat rate by the job rather than hourly or on salary. It may just get the job done on a more timely basis. Once the job is completed, workers are paid and can move on to the next one.
The official source of Construction Industry Salary Tools is
the Construction Industry Salary Tools page at Business.com
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