How Much Do Construction Project Managers Make
The construction industry is booming with high expectations (and growth) on the horizon for the upcoming decade. The United States is set to witness an estimated 4.5 percent increase in construction management jobs until 2032. Around 23,000 new jobs for construction project managers should be created during the said period, as noted by the Bureau of Labor Statistics.
Growth for the construction industry is expected to be 10 percent for the next four years, which is faster than any other occupation in the United States. That should add $20,000 to $40,000 to the average pay range of construction project managers at their different career stages.
While the current median salary sits at around $97,000; the years of experience, skill level, excellent portfolios, and locations, among other factors, will play important roles in the continuous growth of construction managers over the coming decade. Construction-related experience is anticipated to have one of the best job prospects in the United States in 2024.
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How Much Do Construction Project Managers Make in the U.S.?
Construction Project Managers can make an estimated $97,768 on average in the United States, according to accumulated annual pay ranges by ZipRecruiter and GlassDoor as of March 30, 2024. The figure breaks down to approximately $8,147 per month, $1,880 per week, or $47 per hour.
Most job postings set the annual salary range of construction project managers from as low as $75,000 to as high as $119,000. The pay accounts for expertise where top earners with at least a decade of construction management experience can get annual salaries as high as $156,000 in the United States.
With a surge in new infrastructure projects ranging from transportation to technology to renewable energy initiatives, the United States is still not the highest-paying country for construction project managers.
That honor goes to Switzerland where entry-level construction managers can make around $129,000 on average. 10-15 years of experience boosts the average salary to $300,000 with a ceiling cap of up to $360,000, according to WorldSalaries for 2024.
Highest Construction Project Manager Paying States
Hawaii pays the highest salaries to construction managers in the United States, according to a 2024 state-wide salary median by Zippia. The average salary is $124,000 with top earners raking in packages worth $177,000.
California is another state with excellent salary packages for the construction industry. Project managers can expect to make $101,000 in average yearly income with contracts paying up to $160,000.
Washington, New Hampshire, and New Jersey approximately fall in the same category. They pay around $92,000 per year to construction managers with the highest-paying contracts averaging around $140,000.
Oregon and Nevada are the last couple of states that pay around $90,000 on average to construction managers. The lowest annual salaries in these two states come to $56,000, around $5,000 less than the previous states. Hawaii is an exception with its lowest annual salary sitting comfortably at $86,000.
California boasts an additional attraction for project managers looking to add to their construction repertoire. It contains the highest-paying cities in the United States for construction managers on average.
Bakersfield, Felton, Fresno, Livermore, Long Beach, Los Angeles, Oakland, Redwood City, and Santa Cruz range from $100,000 to $122,000 in average annual incomes in 2024. That boils down to a $50-60 hourly wage.
How Do Construction Project Manager Earnings Compare to Other Related Jobs?
The position of a construction project manager has been ranked as the fifth highest-paying job in the United States, according to a survey-based report by Indeed in February 2024. It falls between electrical and mechanical engineers where both have roughly the same pay range, but there are far more jobs for electrical engineers in comparison.
The health sector continues to dominate in 2024 with a high demand for psychiatrists, anesthesiologists, and oral and maxillofacial surgeons that is expected to grow by 13 percent until 2031. Against the $97,768 median salary of construction managers, the aforementioned health positions can make anywhere between $250,000 and $330,000 in the United States.
Furthermore, the information technology sector jumps ahead of construction management as well. Experienced IT managers can look toward an annual salary package of around $163,000 in the United States depending on location and knowledge, among other factors.
Reasons Why Construction Project Management’s a Good Career
A steady income all set to rise is not the only reason you should consider pursuing a career in construction. Several metrics indicate that the construction industry has excellent room for freshies to get experience under their hard hats. With many jobs being created in various construction-related industries, you get to choose which niche you want to jump in and learn.
Above Average Income
With a median salary of $97,768, construction managers earn significantly higher than the average United States income of $63,795. They are also paid considerably more than other construction jobs including electricians, carpenters, plumbers, and architects. The median salary is predicted to increase, even more in 2024, making it a promising and reliable career path.
Steady Work
With population and business growth, the employment of project managers is expected to increase continually. New developments such as office buildings, schools, hospitals, and houses will be in demand, as well as the rebuilding and renovations of old structures. All these construction needs indicate a positive outlook for those working in the construction industry of the United States.
Responsibility and Rapid Advancement
Construction managers are often given a large number of responsibilities in their jobs from the very beginning. There is also substantial room for growth and promotion, making it a great option for individuals looking to learn and grow within an industry. If you seek authority and leadership roles, this can be a significant advantage compared to the rather slow advancement of many other careers.
Never Boring
If you thrive under pressure, construction management is the job for you. Construction managers juggle different tasks while working with numerous teams and managing their employees. With so many responsibilities, it is quite rare to be stuck sitting in the office all day. This is a major benefit for those who dread the thought of a desk job.
Career satisfaction
There are not many careers where you get to see your work brought to life. In the construction industry, drawings on paper are transformed into a tangible asset within months. This aspect makes the construction industry fairly unique where project managers finish work knowing they have created something that will last a lifetime.
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