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
Townhomes
Townhome Construction Gains in Popularity as Buyers Seek Medium-Density Housing
Townhouses made up 18% of single-family housing starts during Q1 2024
Housing Markets
5 Housing Markets That Would See a Huge Increase in Homeownership if Mortgage Rates Dropped
Spokane, Wash., would experience an 11.4% increase in affordability if rates dropped to 6%
Housing Markets
Spring Housing Markets: Which Markets Saw the Most Appreciation, and Which Saw the Least?
Florida metros saw the weakest appreciation of all housing markets in the US