Industry Buzz: Hot News for Construction Executives
SHOW US THE $$$
Demand for construction professionals in the post-recession era has pushed pay levels up 10% since 2008, says an Oct. 15 compensation survey by FMI Corp. While pay is up for a variety of positions, a push by firms for new business gave marketing managers the steepest hike (see chart). "The industry is focusing on levers of growth and efficiency that were neglected in the past," says survey author Mike Rose of FMI, noting that new complexities in business acquisition require higher-skilled and better-paid employees. The push for technology also generated a 30% bump in base pay for BIM professionals. Jobs with the slowest pay growth included project managers, project engineers and general foremen. Says FMI, "Commoditization of construction is forcing the industry to revise go-to-market strategies and channels for new business as well as the talent pool."