The elevator industry is booming. Employment of elevator mechanics was estimated at 22,100 in 2016, and is projected to grow 12 percent by 2026. This is faster than the average for all occupations according to the BLS. New installation and maintenance of elevators and escalators in stores and residential and commercial buildings is expected to drive demand for workers. Another factor driving demand for this role is a growing number of elderly people requiring elevators and stair lifts in their homes.
Today, the color of your collar doesn’t have to dictate the level of your income. Year over year, Elevator Installers and Repairers rank in the Top 5 Paying Blue Collar jobs according to Forbes and the US BLS, with a median pay in 2017 of $79,480/year or $38.21/hour. Even more impressively, the top ten percent of elevator mechanics can earn $115,880.
Elevator mechanics can sleep soundly year-round, as they need to worry less about employment volatility than other construction occupations. The elevator industry is typically less affected by economic downturns and seasonality. That being said, salaries do vary considerably depending on factors such as education, experience, industry, and location, as noted by the examples in the chart below. If you’re an elevator mechanic working in Massachusetts, you could be making up to $104,170 per year!
As previously mentioned, salary variability in the elevator space is also dependant on which sector you work in. The highest paying industry sector for elevator mechanics is the federal, state, and local government sector with an annual salary of $94,030. The lowest paying sector is the real estate and rental and leasing sector with a yearly wage of $33,770.
Regardless of where you work or which sector you work for, it’s clear that working as an elevator mechanic is a promising career path in an industry that’s only expected to grow. This upward trajectory signals a healthy future for anyone looking to enter the elevator business.
FIELDBOSS is a proud member of CECA, NAEC, and ECNY and a supporter of the elevator industry. Please contact us for a free demo or to learn more about our elevator contractor management software.