More Projects and Pay Increases in The Construction Industry
There has been some good news over the past few months for people working in the construction industry as salaries have soared and broken through the £100,000 barrier for the first time. We’ve all become a little tired of the recession, many of us having to accept pay freezes (or even worse, pay cuts). The cost of living has gone up and it’s left many of us struggling as we try to maintain our lifestyles while we wait for the economic downturn to turn around.
Although the increased rates of pay are concentrated in London and the South East for pre-construction professionals such as planning and design managers, this increase is likely to spread in the coming months and improve incomes and prospects nationwide.
This is great news for the construction industry in general and for project managers in particular as they are beginning to see director style wages as the construction recovery gets underway and demand outstrips supply in this type of work. Recruitment specialists reveal that there are just not enough qualified people to cope with demands and they are having to pay top dollar in order to fill the roles.
Planners, design managers and estimators are also in short supply and with so much work planned in the near future, project managers on large jobs will safely be able to demand £100,000 soon.
This development is likely to have a positive effect throughout the construction industry and one recruiter has likened it to a Premier League football team. If a new striker is signed on huge wages, then the other players immediately start asking the manager for more money too. The same sort of thing is likely to happen in the construction industry. As the “top players” are able to command a higher salary, others on the job will also want an increase in pay and they are more than likely going to be successful in their quest.
Some of the house builder companies in the UK are taking on tradesmen (like bricklayers) as there is a shortage of employees with the necessary skills who are available through subcontractors. This is having the effect of increasing wages in those trades, which can only be good news for tradesmen in the UK.
Although London is leading the way in this increase in construction there are several big infrastructure projects outside the capital city where workers are needed. Projects such as premiership football club Liverpool’s new stadium and transport improvements between Yorkshire and Lancashire has led to an increasing demand for skilled workers.
There has also been an increase in the cost of construction materials which may be a bit of a headache for contractors but this has not tempered the increase in building work planned for the future.
All of these factors combine to herald some good news for everybody in the construction sector and where the construction sector goes, the rest of Britain usually follows. Hopefully the improvements we’re seeing today in the construction sector, both in terms of an increase in building and higher pay will spread throughout the UK and lead to better times for all of us.