Growth Trends for Related Jobs
Electrical project managers' salaries can range from $60,000 to over $150,000, according to the Bureau of Labor Statistics. Electrical project managers help budget, plan, coordinate and manage construction projects. Compensation of electrical project managers depends on factors such as education, experience, location and whether they work for a company or if they are independently employed. Although certification is not required to work in the industry, several professional associations such as the American Institute of Constructors offer certification, according to the Bureau of Labor Statistics.
Electrical project managers must have a bachelor's degree in construction science, electrical engineering, mechanical engineering or a technical degree in heating, ventilation, and air conditioning. Courses for these degrees teach students how to plan for a construction site, manage costs, supervise labor and order materials. Electrical project managers may choose to obtain a master's degree in engineering or business administration. Many more schools are now offering courses in energy careers since a large number of employees of electric and energy companies are expected to retire or leave the industry by 2013, according to a June 2011 report by the Task Force on America's Future Energy Jobs at the Bipartisan Policy Center.
Experience and specialization are factors in calculating the salary of electrical project managers. Many electrical project managers specialize in cost estimating and some in engineering, according to Electrical Contractor, an online publication. A person with up to three years of experience in the industry with a basic knowledge of electrical systems could make from $24,000 to $45,000 per year. A cost estimator with three to five years of experience and some project management experience can make from $45,000 to $75,000 per year. Electrical cost estimators with five to 10 years of project management experience can make $75,000 to $150,000 annually. Those specializing in electrical engineering and with experience can make upward of $150,000, according to the Bureau of Labor Statistics.
Company or Independently Employed
Electrical project managers that are employed by companies often make more than those employed independently. Those that are employed by electrical, energy or construction companies often bonuses and are allowed to use company vehicles, according to the Bureau of Labor Statistics. The government website says that over 300,000 in the industry are self employed. However, demand for construction and project managers is expected to increase by 17 percent by 2018, according to the Bureau of Labor Statistics.
The top paying metro area is Los Angeles, with the average worker earning $66,560, according to a 2008 study conducted by Mechanical Electrical and Plumbing. The average electrician earned an annual salary of $50,000 in New York City and $39,000 in Florida. Project managers, electrical engineers and estimators in all of the states surveyed earned an average annual salary of a little over $65,000. Those in all of the states with less than five years of experience earned less than $50,000 and those with over 11 years of experience earned over $70,000, according to the survey.
Maria McCarron has been covering Wall Street and merger and acquisitions since 2006. She's been published in "The Deal," "The Financial Times" and online at TheStreet. McCarron studied journalism at Boston University and holds a Master of Arts and Letters from Drew University.