The Bureau of Labor Statistics' newest data show that while the U.S. median wage is $37,700, half of payroll workers in construction earn more than $45,820.
In the construction industry, CEOs are the highest paid workers in construction, making more than $167,000 annually. In construction trades, half of elevator installers earn the most, at $79,000 a year. Generally, construction trades that require more formal education, or specialized training and licensing tend to yield higher wages, according to the National Association of Home Builders.
The median wages of construction and building inspectors are $58,300 and the wages in the top quartile of the pay scale exceed $77,930. Half of electricians and plumbers in construction earn over $52,000, with the top quartile making over $70,000. Carpenters are one of the most prevalent construction trades in the industry. The trade requires less formal education. Nevertheless, the median wages of carpenters exceed the national median. Half of carpenters working in construction earn over $45,370, and the highest paid 25% earn at least $60,470 annually.
Advertisement
Related Stories
New-Home Sales
Mortgage Rates Are Up but New-Home Sales Still Solid in March
Lack of existing home inventory drove a rise in new-home sales, despite higher interest rates in March
Labor + Trade Relations
Who's Earning What in Construction
Workers in construction management roles may earn a higher median wage, but on average, lower-paid occupations have experienced somewhat faster wage growth
Build to Rent
Build-to-Rent Is Booming, Particularly in These Metros
A recent report finds that the Phoenix metro leads with more than 4,000 build-to-rent units completed in 2023, and Texas is the leading state for build-to-rent development
