According to the Construction Market – Global Opportunity Analysis and Industry Forecast 2022-2030, the construction market was valued at $7.28 trillion in 2021 and it grew 12 per cent from 2020. With such exponential growth in this sector, the job of construction project manager becomes much more vital and in high demand. Construction project management falls under the ambit of project management, encompassing project managers who are in demand across a variety of industries to manage, execute, and keep projects running smoothly. Owing to the essentiality of their duties, the pay of project managers is lucrative. Now, if you are considering a career as a construction project manager, we will provide you with a comprehensive understanding of construction project manager salary packages to help you make an informed choice.
Introduction to Construction Project Management
Construction project management helps companies keep the construction process efficient and on track, from planning and design to resource management and budget allocation. It is a crucial role and the construction project manager salary levels reflect that importance.
Some of the key responsibilities of a construction project manager include breaking down tasks, delegating responsibility, ensuring quality and standards, monitoring budgets and timetables, dealing with variations, and delivering the intended results.
Are Construction Project Managers in Demand and Why?
By 2027, employers will need 88 million project managers across sectors. According to the Project Management Institute (PMI), India and China will account for about 75 per cent of the total project management roles worldwide by 2027. The constant rise of project managers in the construction sector is equally evident, given the growth in the construction market.
According to the U.S. Bureau of Labor Statistics, the growth of project management employment roles is projected at 8 per cent in the upcoming decade, whereas, other roles are expected to grow at an average of 5 per cent. Each year, in this decade, 41,000 job openings are expected in the U.S. alone, making construction project management a lucrative career.
Construction project managers are constantly looking for innovative, agile methodologies and approaches to incorporate into their projects. With that transformation in approach, construction project managers must now be more effective and skilled professionals in order to deal with new challenges and make sure that the project runs efficiently and smoothly.
Average Construction Project Manager Salary
According to LinkedIn, the average annual salary for a construction project manager in the United States is $77,000. The salary range for this role varies widely on a number of factors including knowledge, experience, and skillset.
A Bachelor’s degree in Building Construction, Construction Management, Civil Engineering, or Architecture is typically required for construction project managers. Construction project managers must be able to delegate well and be influential leaders.
Average Salary Range Based on Knowledge and Experience
As with any field, the more knowledge you have, the better your chances are for an attractive salary package. A construction project manager salary is widely dependent on their knowledge and expertise in construction.
According to Glassdoor, the minimum requirement to be a project manager is a Bachelor’s degree in building construction, construction management, civil engineering, or architecture. Along with that, a minimum of five to seven years of experience in construction project management is required. The ability to draw and read blueprints and drawings is also a must.
Build New Skills in Construction Project Management
A construction project manager is in charge of the project. Therefore, this makes it necessary for them to have a proper set of project management skills. This includes a blend of hard skills, soft skills, and technical competencies. A construction project manager must be well-versed in project management software, as well as have strong communication skills. Time management, team management, planning, scheduling, budgeting, risk management, negotiating, organization, and problem-solving are just a few of the attributes that a construction project manager must have.
Construction Project Manager Salary By Location
The average salary of a construction project manager varies worldwide, according to Glassdoor. The table below gives us an idea of the construction project manager salary packages across the U.S., U.K., India, China, UAE, and Europe.
|Location||Average Annual Salary|
What is the Highest Salary for a Construction Project Manager in the U.S.?
A construction project manager may earn up to $1,000,000 per year in the United States, minus benefits. And this is a position that will continue to have immense scope. This is due to increasing infrastructural development and new projects being introduced throughout the world.
Learn with Emeritus
To have a successful career as a construction project manager, you must know the fundamentals of project management. For this, you can explore the online project management courses on Emeritus to get a deeper insight into the field and compete for the high construction project manager salary levels globally.
(Note: All Salaries are from Glassdoor and LinkedIn)
By Siddhesh Shinde
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