For most in the construction industry, business has been good for the past few years. You may be wondering how long will this boom last as the nature of construction is cyclical. We came across an interesting post on Reddit the other day talking about the viability of having a construction management degree and if there will be work in the near future. We were so pleased with some of the responses that we’ve summarized some of the points into this blog post.
Get More Education
One of the best things you can do to increase your job security is to get more education or certification. When things get tough employers are more likely to keep their managers around longer. Consider getting your Bachelors degree in construction management. There seems to be a lot more job security for people that have more managerial roles in construction. As Reddit user, eclaircissement, states “Construction managers and other office personnel are significantly less vulnerable to economic cycles than tradesmen.”
Different parts of the economy seem to be booming at different times. As mentioned in the reddit thread, up to the 2008 Great Recession residential construction seemed to be booming, but after that, the government invested into more infrastructure, which caused commercial construction to pick up. So when the tech bubble in San Francisco bursts, perhaps the energy market will pick up in Texas. As many experienced contractors have said, there will always be work for construction professionals willing to relocate.
Diversify Into Different Industries
Having a construction management degree can really come in handy when moving into different industries. Many things will translate across all industries as most projects involve budgeting, scheduling, etc…If you are good at managing these aspects of a project then you can usually get some education in a new industry and get a job fairly quickly. In the near future, we will see major investments into residential solar as well as commercial manufacturing plants for batteries and solar panels. These are two examples of industries expected to see hyper growth in the next few years. It would be wise to take some time to get training and certifications in these trades if you are worried about job security.
Of course, you should also consider industries that have been around forever to keep growing too. As this Reddit user points out, our population is still projected to keep growing.
Invest into New Technology
We live in a world where the next ten years of construction innovation will make that last 30 years seem like nothing. Many construction managers have expressed fears of technology putting them out of a job. See this Reddit user’s opinion on it:
Comment from discussion In three years, will a job in Construction Management still be in high demand?. The best thing you can do to protect yourself from new technology is to embrace it. The world is going to need technicians and skilled tradesman that know how to use this technology. If you make an effort to learn how to use this technology as it comes out, you will be much farther ahead of the competition.
The more you can specialize in different fields the higher chance you will always have more work. If you are willing to travel or relocate there will always be money in construction. Keeping up to date with the latest innovations and technology in construction will make you a more valuable asset to any construction company.