The construction industry is currently facing a catastrophic labor shortage. With an abundance of jobs that pay well and offer ample opportunities for advancement, a career in construction is something all high school graduates should consider before settling into a multi-year commitment with an academic institute.
Choosing to forego the path of academia in pursuit of valuable, high-demand trade skills is a respectable decision that can put you on the fast track toward financial freedom. In part one of this two-part guide, the Houston contractor attorneys at Cotney Construction Law will review the benefits of entering the construction industry after high school. If you’ve never considered a career in construction, you might be surprised by the immense upside to relocating your talents to the job site.
Plenty of Jobs
One of the biggest fears facing college students is the uncertainty of job placement after graduation. A college degree doesn’t guarantee you a job, and the rising cost of education means earning a college degree requires you to take a major risk on your future. Conversely, the construction industry is facing a labor shortage that all but guarantees employment. Spending four years paying out of pocket for higher education doesn’t seem logical if you can’t land a sensible position after graduation.
Jobs in construction are unlikely to reach capacity anytime soon. It is estimated that over the next ten years, roughly 250,000 baby boomers will hang up their hard hats for good and retire from the construction industry. Employers will be aggressively searching for intelligent, well-rounded individuals to fill these positions.
The median yearly income for construction workers in the U.S. was $33,430 in 2016. Although this may seem low, when comparing it to entry-level jobs that require a college degree, construction workers actually earn more on average. Plus, construction workers in the 75th percentile earn nearly 1.5 times this amount.
A career in construction allows you to start earning money today, without the looming burden of student loans. The wage outlook in construction is positive, and salaries have steadily increased over the last decade. Location plays a large role in salary, too. Hawaii ($56,180), Illinois ($56,180), Massachusetts ($53,750), New Jersey ($50,030) and Alaska ($49,680) paid construction workers the highest mean salary in the country in 2016.
Keep in mind that these numbers reflect an entry-level career in construction. Carpenters, steelworkers, cost estimators, and construction managers all earned between $40,000 and $100,000 on average.
In part two, we will examine how a career in construction can help you achieve lifelong employment, assist others, and even travel the country.
Disclaimer: The information contained in this article is for general educational information only. This information does not constitute legal advice, is not intended to constitute legal advice, nor should it be relied upon as legal advice for your specific factual pattern or situation.