Construction remains the big Australian employer
Each year, Australia’s construction industry contributes about $350 billion to the economy, roughly 8% of our gross domestic product. Even when the property market hit rock bottom in mid-2019 (after reaching its peak 18 months earlier), construction continued to employ about a million people.
The Australian Industry and Skills Committee predicted in 2018 that the construction industry would have an annual average growth rate of 2.5% for the following five years, despite the recent downturn. Productivity is increasing too, as better technology, improved building techniques, and more efficient materials help drive smarter and more cost-effective construction processes.
It follows that those in positions of seniority within the industry are highly sought after, and very well compensated financially. At the top of that pile are Project Managers and Construction Managers.
Each year, Australia's construction industry contributes about $350 billion to the economy, which is roughly 8% of our GDP. Despite the property market hitting rock bottom mid-2019, construction still employed about 1 million people. Click To TweetWhat’s the difference?
A construction manager’s focus is centred squarely on the building phase of the project, whereas a project manager oversees everything including planning, budgets, contracts, marketing, and more. Knowing this, what is the value of a Construction Management Diploma or Project Management Diploma through College for Adult Learning? How valuable might one (or both) of these diplomas be in an industry which constantly requires senior roles to guide and inspire hundreds of workers on multi-million-dollar worksites?
Construction Management Diploma Outcomes
The average salary for a construction manager in Australia is $112,000, but the best of the best can command $187,000 or more. Project managers do even better, with an average wage of $127,000, and the best paid earning north of $249,000. Like any salary of that magnitude, it is a reflection of many factors including demand, qualifications, skills, experience and leadership abilities. These professionals are well-remunerated for a good reason. Construction Managers are ultimately responsible for not just the building’s integrity but require skills (and diplomacy) to serve the interests of major contractors, subcontractors, and often buyers.
Project Management Diploma Outcomes
Project Managers have an even longer list of responsibilities and stakeholders to keep happy. In other words, the buck stops with them when there’s often a lot of money at stake, and investors are counting on a good job to get a decent rate of return. Then there’s the issue of regulation. The building trade is overseen in all sectors and occupations at local, state, and federal government level with a multitude of rules and regulations. It follows that staying updated on those rules is an important aspect of both construction and project managers’ job. All this means that, more than ever, having the right qualifications is crucial.
An important step on the pathway to either career is the right qualification. Think of it as the ultimate investment in yourself towards getting a well-paid career that offers stability, variety, excitement, and great job satisfaction.
The value of the Project and Construction management Diplomas
The College for Adult Learning’s Construction Management and Project Management diplomas are recognised throughout the industry. Their nationally accredited training gives you the foundation to get a ‘foot in the door’, or get you closer to that promotion you’ve been chasing if you’re already in the industry.
Diplomas can be completed at your own pace, although the typical length of time is between 12-16 months for a course. You can study online with fantastic coaching and student support, at convenient times that suit you.
There are currently approximately 25,000 Australian-based construction or project management roles advertised on SEEK alone. That means the market is begging for talent, so there’s evidence of outstanding outcomes by completing either diploma.
There are also great advantages in completing both the construction AND project management qualifications in a double-diploma. Showing a prospective employer your commitment to the industry (and learning all you can about it) is a positive demonstration of your work ethic and dedication. Plus, you’ll learn even more about the construction game, and therefore broaden your choice of jobs down the track.
What’s even better, is that the crossover between these two qualifications means only 3 extra units is needed to attain two Diplomas. See the comparison below:
- Single Diploma of Building & Construction Management (CPC50308) = 12 units
- Single Diploma of Project Management (BSB51415) = 12 units
- Double Diploma of Project Management + Building & Construction Management = 15 units
What does the future hold for residential and commercial jobs?
About a third of all construction projects in Australia are residential. People will always need houses, of course, but projections are that in the next three years, that will decrease from 36% to 32% of the market.
Commercial construction is expected to help fill the void. Managing a commercial project is usually more complicated than a residential one, so construction and project managers with the right qualifications have a bright employment outlook for the future.
Experts are also predicting a swing towards modular and prefabricated construction projects, as technology improves, and cost control becomes more of an issue. Keeping across trends like that is much easier if you can gain experience and credibility in the industry.
Couple these factors with more government investment in infrastructure (state and federal), it becomes clear that construction and project management are careers of the future. Getting a solid understanding provided by a diploma in either or both disciplines is a smart move for those looking to future-proof their career.
What is next for managers in the construction sector?
By all counts, it seems that diploma outcomes in the fields of both construction and project management are bright. Both roles require a solid educational base to make you more employable. Beyond that, an exciting and rewarding industry awaits. Managers at this level need a strong initiative, the ability to work calmly under pressure, great communication skills and solid personal drive.
Undertaking a diploma qualification, in and of itself, demonstrates all these qualities. Having the ambition and enthusiasm to commit to an online diploma, even one you complete at your own pace, are attractive qualities in any workplace. The value of the project management or construction management diploma isn’t just to give you the qualifications you need. A respected diploma or double-diploma qualification demonstrates to any potential employer that you are serious and committed to the long term success of the company and the future of the construction and related industries.