Construction Management is a line of work that is steadily emerging nowadays. On average, the construction management salary ranges from $80,000 to $100,000 annually, which is relatively higher than other jobs. It promises young professionals a bright career ahead, and paves the way for more opportunities on their plates. But what does a construction manager really do, and what are the key benefits of being a construction manager?
A construction manager is the one who watches over various commercial and residential projects. They ensure that a project is seamlessly executed in a well-organized manner. Construction managers also warrant that a project is within budget, and the completion well within the turnaround time initially committed to the client.
Benefits of a Construction Manager
1.) Holistic career development
Since the job entails overall monitoring of an ongoing project, construction managers are exposed to all aspects of construction. From planning the project to putting the final touches, they are in-charge of the ins and outs of a construction project. This, in turn, transforms a construction manager to become very knowledgeable and versatile – a valuable asset to their current or future employers.
2.) Great potential for networking
Being a construction manager also opens doors to future opportunities and endeavors. This is due to the fact that the construction managers serve as the liaison between the customer and other people involved in the project. They regularly work with architects, engineers, electricians, cost estimators, and the likes.
3.) Appealing salary and compensation package
Since this is a key management position, construction managers can expect a very hefty salary, with other non-cash benefits. Managing a construction project entails great responsibility. Thus, most construction companies know the value of their manager well enough to give him a compensation package that is equally proportional, and sometimes even greater.
Aside from the high construction management salary, construction firms also give bonuses to their managers from time to time. Usually, bonuses are given when projects are finished ahead of the set time frame, or projects were completed below the initial proposed budget.
5.) Health insurance
Construction managers play a role of paramount importance in a project. They are considered vital assets that would bring a project to completion. However, their responsibilities overseeing the construction can be dangerous as well. Accidents and sickness can happen anytime. Therefore, they are given a higher insurance package than regular employees.
In addition to health insurance, construction managers and their families are also given the benefit of an accident and life insurance policy.
6.) Vacation entitlement
Most construction managers are given vacation benefits by construction firms. This translates to time offs that are paid by the company. Because most construction managers are expected to work extended hours and on weekends, they are in turn given ample time to rest and recuperate after the completion of a project.
7.) Vehicle allowance
A regular site visit is part of a construction manager’s day-to-day task. They travel from jobsite to jobsite, thus, needing a safe and convenient mode of transportation. Construction companies provide their managers with a company vehicle and/or transportation allowance that is enough to cover their daily transportation expenses.
8.) Security of tenure
Good construction managers know every project by heart. They know the nitty-gritty and all the pertinent information about ongoing construction projects like the back of their hands. Due to this, a construction manager is one of the most valued contributors in a project. They are taken seriously and are in a position with high bargaining power. For sure, they cannot be easily replaced or displaced, and are sure to be part of numerous projects of a construction company.
Construction management may not be one of the most popular or glamorous jobs, but it is gaining popularity among young individuals. Universities are now providing courses and degrees in construction management to provide proper classroom and practical training to individuals who are interested to pursue a career as a construction manager.
If you are a young individual that is looking for a stable and secure career in an established industry or an experienced professional that is exploring other options, construction management may be the big break that you are looking for.
After reading this article about construction management salaries and its future career, do you think you have what it takes to be a construction manager?