If you work in the construction industry, you may be excited about this rewarding career path and wondering whether you should invest in higher education. There is no right or wrong answer to this question; however, it is definitely a decision on which you should spend some time and consideration. Fortunately, our experienced Nashville contractor attorneys are here with some information to take into account if you are considering getting a construction management degree.
If you have not yet read Part 1 of this three-part article, we recommend starting there.
Cost vs. Salary Comparison (Continued)
According to Costhelper Education, a four-year construction management degree can cost anywhere from $28,000 to $116,000. An estimate from CollegeCalc says these figures are even higher, citing a median estimate of $137,444 total based on $34,361 per year for an out-of-state degree.
Needless to say, a four-year construction management degree also costs you four years of time during which you might otherwise be working a full-time job and gaining real-world construction experience. Many people choose to work part-time during college, but most would consider a full-time job to be inadvisable if someone is also enrolled in college full time. Being underslept at a construction job can lead to accidents and extreme fatigue in school can result in poor grades or even failed classes.
These large figures are by no means meant to scare anyone off, as they can lead to larger figures for your future salary! Essentially, one of the biggest considerations when it comes to higher education is whether your investment will pay off.
According to Payscale, the average salary for a Construction Manager amounts to $73,087 per year. Salary.com estimates this to be an even higher number, with a median salary of
$106,696. For many individuals seeking a long-term career in construction, the time and money spent on college are well worth it if they result in such a lucrative outcome.
Of course, there are a few other things to consider, such as career satisfaction and external perception of your capabilities. We will discuss those in Part 3.
Disclaimer: The information contained in this article is for general educational information only. This information does not constitute legal advice, is not intended to constitute legal advice, nor should it be relied upon as legal advice for your specific factual pattern or situation.