Study: Trades Can Be Path to Well-Paying Jobs

December 20th, 2017 by Editor

A new study from the National Association of Home Builders (NAHB) shows that the construction trades can be the path to a high-paying career for young workers.

The recently released Single-family Compensation Survey identifies eight senior positions at home building companies that are frequently filled by those who have experience in the construction trades.  According to the study, the average annual compensation (salary and bonus combined) for each of the positions is at least $80,000, and at least $100,000 if the position is leadership of one of a company’s major functions.

The survey collected information from 308 single-family builders about full-time and part-time positions at those companies. For example, 95 percent of single-family home builders have a CEO, and roughly 89 percent of people at that level have extensive experience in the construction trades. The average annual compensation including salary and bonuses is $157,401.

An earlier NAHB study included a poll of roughly 2,000 young adults that indicated young adults would reconsider working in the construction trades if the annual salary were
$75,000 or more.

That earlier research project was developed in response to the severe labor shortages currently affecting the industry nationwide. “The current scarcity of construction labor is all the more concerning given projections from the Bureau of Labor Statistics that the construction sector will add around 790,000 new jobs in the decade leading up to 2024,” the report reads.

Another NAHB survey shows that more than 8 out of 10 single-family builders identified the cost/availability of labor as the most significant issue they would face in 2017.

Labor issues have also been cited as one factor pushing up home prices across the country.

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