r/financialindependence • u/fidgit86 • 9d ago

What do you do that you earn six figures?

It seems like a lot of people make a lot of money and it seems like I’m missing out on something. So those of you that do, whats your occupation that pays so well?

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u/Lifting_Rizzo 9d ago

Agreed. I never thought I would be in construction or end up staying as long as I have. The $$$ was hard to resist!

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u/Zealousideal-Club290 9d ago

What kind of construction? I estimate with a commercial glazing contractor and am close to 6 figures but not quite there. Do you have bonuses / incentives / commission ? I am thinking about lobbying my company to implement something along these lines as we don't have anything like that except 401k match and I feel like it would be a big motivating factor for all the estimators and PMs

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u/Wonderingexplorer69 9d ago

I’m a construction estimator as well. 2+ years experience. Over 6 figures. I get recruiters calling me a couple of times every week. Easiest way to get into the industry is to have a construction related degree.

I don’t have one. Easiest way is to get involved IMO is with a smaller level general contractor or trade. Be willing to take entry level pay to be taught. Gain a year or so experience and then either work your way up, or start job hopping to larger firms.

Now - for anyone who reads this. Please understand that estimating is one of the most thankless jobs in construction. You’re doing a good job if you stay at a 25% win mark (depending upon the type of bid) and you can never really be perfect so there is always going to be a mistake. Worst of all you can do everything 100% right, but someone else could make a mistake and you either lose the job, or end up with exposure.

More importantly - it’s incredibly stressful. Our precon team averages about 10-15hrs more a week per person than our operations teams. The deadlines are rough, the workload high, and you are 100% reliant on the market and your companies reputation to be successful (extremely important). Add in the fact that our job is to read through every detail on 300+ drawing sets and 2000+ page spec books to ensure everything is captured correctly for a bid. You do end up getting to be a professional color-er with OST.

All that said, I love it, but I’m already starting to lose my hair. I usually have 1-2 projects or budget updates due a week. I’d you don’t have a solid grasp of industry as a whole, the learning curve is incredibly steep. I’d almost recommend stepping into a field support job (PE) for a year or two, then request shifting to the office/estimator. Good luck!

TLDR: estimator is not as great as it appears to be. You have to be extremely detail oriented and willing to deal with high stress, work load, and long hours, and constant losing - unless your firm negotiates all work upfront.

Source : Commercial construction estimator for a $500M/YR GC. Touch every market segment except for heavy civil.

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u/Zealousideal-Club290 9d ago

I work for a sub and we have a pretty laid back low stress environment. Sometimes I wish it was different and there was more pressure and incentives in place to reward hard work, but for the most part I appreciate the laid back aspect and that's why I've stayed with the same company for several years

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u/InsideCompetition547 9d ago

I’m in a similar role, just for a comp for myself can I ask what you are making?

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u/Zealousideal-Club290 9d ago

80K in the midwest. Hoping for a significant salary bump soon though.

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u/InsideCompetition547 9d ago

Very helpful to know. Thank you. I’m at 60k, also in the Midwest and have been with the company for 5 years, however I came with very minimal experience. I’m hoping to get up to 70/75 soon. Seems pretty comparable, but I don’t know how much education or experience you came to the table with. I work for a stone and tile GC with approx 40 employees.

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u/Zealousideal-Club290 9d ago

I started at 60k 6 years ago with 3 previous years of experience in construction industry and engineering degree so those definitely helped me get in at a relatively high salary initially with my current company. But I think once you have experience the degree or previous experience become less important and you should be valued based on your current amount of experience and skills. I definitely think there's something to be said for sometimes having to jump to a different company to get market value for your skills as raises tend to be minimal and stagnate. But for me the $$ isn't necessarily my biggest consideration so I'm sticking it out for the time being.

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u/InsideCompetition547 9d ago

Sounds like you are in good shape. Really helpful info, thank you. I started 5 years ago at 45k, which again, I had minimal experience, so hearing your experience makes me feel more confident that I am earning an appropriate salary right now. Thank you.

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u/Zealousideal-Club290 9d ago

do you know how much you make relative to the PM's at your company ? Are you the only estimator?

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u/Lifting_Rizzo 9d ago

I work for a subcontractor, but you are sooooo spot on with what the job can entail. It is definitely not for everyone. I can only imagine the stress on the GC side of things since you have to grab numbers from multiple subs and scope them all out. I’ve been in the business almost 6 years now and that learning curve is no joke. I feel like I’m always still learning something new. I like to tell people I color electronically for a living.

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u/muffinman4456 9d ago

Do you earn commission? My husband was recently working as an estimator but only made 46k.

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u/Wonderingexplorer69 9d ago

I do not. I get bonuses at year end but that’s not factored into my salary base. But I also work for a larger GC. I have a friend that works for a different much smaller GC in town, and he is around your husbands salary. From what I have seen, estimator salaries vary. Size of the GC is typically a good indicator of potential salary (smaller GCs won’t care about preconstruction as much or the projects won’t be as complex). I’m compensated more than some other estimators within our company, but I’m also given more work and need minimal oversight. I have found that if you can prove to be a high producer in the role, then you hold all of the cards when it comes to salary negotiation.

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u/muffinman4456 9d ago

This was a relatively new department, so I guess it was smaller. How much money do you bid/month?

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u/Wonderingexplorer69 9d ago

It varies on the month, but usually we are at/above $80M + per month. But our average project size is $25M+. Last month I was over $100M, but only handled 2 projects. This week I’ve pushed out 4 projects, but only $60M. Next week, I’ll be over $100M with a single project.

He’s in a great spot to learn and cut his teeth if it’s a new department. Can really establish and implement a successful precon program. Biggest thing is company/operations buy in. Everyone has to recognize and support the precon team for it to be successful.

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u/muffinman4456 9d ago

Oh yeah he is small potatoes compared to that. Only 1-2 mil a month at the moment.

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u/bargebuggler 9d ago

Heavy civil is an entirely different animal with huge risk with underground unknowns. GC here, you’re spot on that estimating and precon is highly undervalued but also the life blood of the company. I started there, and moved into a management role shortly thereafter. Hard finding someone who is meticulous but also have a grasp of sequencing and big picture stuff.

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u/Wonderingexplorer69 9d ago

Yep! It’s the nuts and bolts of construction. A well set up job will be successful 9/10 where a poorly set up one will be a fight from the start.

Agree with your point. It’s immensely challenging because you have to wear so many hats and put so much into consideration. The drawings very seldom reflect the full story and/or how it gets completed on-site. Part of me believes that’s why I enjoy it as much as I do.

Good luck to y’all this year! Hopefully the market gets somewhat back to normal from a materials standpoint soon.

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u/bargebuggler 9d ago

Lumber is back to 2018 pricing again, and hopefully steel gets to that point soon too. That makes my life easier when deciding on how to address construction sequencing and keeping clients happy with the budget. Good luck to you as well, we’re in the Rockies so unfortunately there won’t be an opportunity to work together.

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u/BigAl7390 9d ago

Id actually agree with the stress part. Im a project manager in commercial construction and it has its stressful parts. Estimating was definitely worse. More late nights, deadlines, stress, and hands cramping up from doing onscreen takeoff all day LOL

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u/Wonderingexplorer69 9d ago

Yep! I spent a small amount of time on Ops and quickly got out of there. Mad respect to the entire project teams. Y’all deal with your own bullshit and it isn’t easy. Hope y’all have a great year!

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u/BigAl7390 3d ago

Same to you! Best of luck chasing down jobs

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u/RomaniRye 9d ago

My background is industrial design, lighting and exhibit design, and management. How would you recommend I go about breaking into the field?

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u/Wonderingexplorer69 9d ago

I’d honestly see what relationships you currently have that you may be able to leverage. If you have any close relationships with architects, trades, etc.

If not - I’d do a search for all of the general contractors in town and begin to do your due Diligence on their company and their job openings. I can’t stress that enough.

As an estimator, you are reliant upon your companies reputation. If your operations team sucks, then you won’t get negotiated work or repeat clients and you will basically be hard bidding every project. If your company doesn’t pay trades on time, they are going to raise their price to you, thus making it hard to be competitive.

The role is in high demand and you have a solid general background so you should be able to get your foot in the door.

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u/Accomplished-Bad3380 9d ago

What area are you in, making 6 figures with 2 years experience and no degree? Must be a HCOL area?

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u/Wonderingexplorer69 9d ago

I have a business degree and was studying for law school when I decided to make the jump into construction instead of taking on school loans.

I’m in a low cost of living area. Southern US. My first raise came unexpectedly within 2 months of being at my job. I’m more of a workaholic at heart and take immense pride in anything that has my name on it. This is my experience only, but estimating is one of the roles that your compensation reflects your work ethic and performance.

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u/Lifting_Rizzo 9d ago

I couldn't agree more on your last sentence!

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u/Empirical_Spirit 9d ago

Help me estimate a single family home! About to have architectural plans and start setting up a budget and need guidance. Any advice besides get a lot of bids?

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u/jasonbf78 9d ago

Be ready to pay about double or maybe even triple what you would have last year…. Materials and labor cost are through the roof… not to mention you can’t hardly find materials so the building delays are insane… one of my customers said he’s usually 4-5 months on building homes, due to materials shortages, he’s 14 months out.

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u/Wonderingexplorer69 9d ago

Oh no. I am not your guy for anything stick framed or residential. commercial and residential are almost night and day different. The residential world where I am at is like the Wild West. I’d drive around nicer neighborhoods under construction and take down all the trades that are out there working. Also try to see if you can connect with any reputable builders for home companies. Offer to take them to lunch for a list of good subs.

Construction is simple. You get what you pay for. But I’d ask a ton of questions, and be wary of any variance in numbers more than 30%. I’d also keep a 20% contingency on your end. And if possible sign contracts with the trades

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u/Empirical_Spirit 9d ago

Thank you for the advice!

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u/Garth_Holiday 9d ago

Work with a local lumber yard. There should be sales people there that will do the takeoff for you.

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u/bodhasattva 9d ago

How do you get that type of job? Is there a entry level position?

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u/Coward_and_Diva 9d ago

Estimators have people that work under them that create plans and double check their work. I was a purchasing agent for a large construction company there we probably around 10-11 people working for 3 estimators in our office. You probably won't make great money to start but learn what you can, make connections and apply to jobs regularly

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u/DLTMIAR 9d ago

Estimators have people that work under them that create plans and double check their work.

What kind of estimating do you do?

Designers or architects make plans and estimators either work under them or along side. I've never seen estimators above them

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u/Coward_and_Diva 9d ago

I did Underground work so the estimators were king at the company I was at. I was never an estimator, I worked in purchasing to ensure that we bought everything according to plan and under budget. We didn't have designers or architects but I think we had one engineer.

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u/bodhasattva 8d ago

suffice it to say.....alot of math?

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u/Coward_and_Diva 8d ago

Not really. Nothing was more than basic math. Everyone who was working under the estimators were high school level education and 1-2 drop outs. I was the only one my age that was actually going to school. I did underground construction, I'm sure it's different for other types of construction

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u/Zealousideal-Club290 9d ago

I have an engineering degree but have never worked in engineering field. I got connected to the company through a friend of a friend of a family member type of thing knew they were looking for someone with that type of background

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u/Lifting_Rizzo 9d ago

I’m in commercial MSD. Yes. I do get bonuses in my company and I feel very fortunate about it! I feel like it would only make sense to have some type of structure to reward your employees especially if they beat the Budget numbers! With what can be a high stress job at times, those incentives/bonuses make it feel worth it!

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u/Bit_Chomper 9d ago

If available in your area, look into becoming a chartered Quantity Surveyor and building your experience from there. Estimator, commercial manager, contract administrator and procurement specialist all in one. You will double 100K before you even hit a management role.

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u/stevo427 9d ago

I’ve been doing glazing through the union for close to 10 years and was looking into getting into estimating also. Don’t see the trade mentioned often in public or anywhere

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u/bodhasattva 9d ago

That actually sounds like an amazing job. Money aside, planning shit like that sounds fun. How do you get that exact job?

Is that the title "Construction estimator"?

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u/ShrimpSlapper 9d ago

Yes, construction estimator. Lately they like specific software experience like B2W, HeavyBid, HCSS, etc. From there it gets a little niche like transmission/distribution power estimating, commercial building estimating, etc.

I work for a gas transmission/distribution company as an estimator making 6 figures. Started in the field as a project manager and moved into the office estimating.

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u/bodhasattva 8d ago

Very interesting, thanks for the info. One more, just because this is brand new to me and I need a little bit of hand holding. If you were to make a recommendation to start somebody off on the best track possible, what software/experience would you recommend, and what job type?

ex:

HCSS + Renewal Energy Construction ( I made that up, but you get the point)

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u/numba1mrdata 9d ago

Takeoffs are honestly kind of fun too. Like a puzzle

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u/Lifting_Rizzo 9d ago

It’s nice that all projects that we look at my have similarities, but they are all different which is nice to keep the mind stimulated and make it not feel boring IMO.

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u/7thG0D 9d ago

Where do you get your takeoffs from?

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u/numba1mrdata 9d ago

Like what software? I use planswift

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u/shane727 9d ago

Do you need construction laborer experience to get into this? Basically...I know jack shit about construction is it possible to break into the field?

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u/DLTMIAR 9d ago

I started with a degree in civil engineering. I've seen jobs request some kind of engineering degree or construction management degree. You could also come into the job with just field experience