HVAC Technicians Are in High Demand Fortunately, HVAC is one of those careers that is in steady demand. The Bureau of Labor Statistics projects that the jobs in this sector will grow by 9% by 2033. If you want to learn how to become an HVAC technician, this is the right time.
There are always advances in HVAC technology, and finding the right HVAC company to work for is essential to have a fulfilling career path. HVAC workers are in high demand, and good career choice if you are seeking job security.
California: California has 3,960 annual openings for HVAC technicians on average, which displays significant growth each year.
There's currently a shortage of 110,000 HVAC technicians, with about 25,000 technicians leaving their company each year.
However, a skilled HVAC technician can earn more than $100,000 per year if they work hard on their skills and knowledge.
In 2015, the average employee turnover rate for service companies like those in the HVAC industry was 12.5% — and a whopping 70% of those turnovers were voluntary.
These include physically demanding work, long hours during the summer, the time it takes to learn HVAC, safety hazards, upfront cost for some certifications, and working alone often.
Approximately 20 percent of HVAC contractors fail across the industry every year, with 70 percent of new HVAC businesses failing in their first year of operation. Smaller HVAC contractors with annual revenue below $1 million typically would not consider expanding into home energy upgrade services.
HVAC Technicians Are in High Demand
Fortunately, HVAC is one of those careers that is in steady demand. The Bureau of Labor Statistics projects that the jobs in this sector will grow by 9% by 2033. If you want to learn how to become an HVAC technician, this is the right time.
Within the HVAC industry, fields that offer the highest pay include commercial HVAC service, system design, and specialized cooling and refrigeration systems. HVAC techs in these areas, especially those in the highest paying states, can earn significantly more than the industry average.
It is estimated that the average age of an HVAC Technician is around 55 years old. As the HVAC industry ages, many companies are seeking to higher younger qualified workers.
High levels of stress and irritability associated with HVAC tech burnout often translates into poor communication, increased aggressiveness, and a lack of empathy towards both customers and team members, creating a negative workplace for all.
That said, the median salary for HVAC technicians is around $48,630 per year, which still keeps HVAC technician near the top of the list of highest paying traditional trades. HVAC technicians specialize in the installation, maintenance, and repair of heating, ventilation, and air conditioning systems.
Job Security – HVAC service can't be exported. Service jobs have never left the U.S. like some other industries have, and they never will. Become a Millionaire – A lot of contractors are young millionaires because HVAC is an industry where it's possible to go from mechanic to millionaire in less than a decade.
1. Florida. Florida is considered the top state for HVAC technician jobs, with 33,210 positions filled as of May 2020. The average hourly wage in Florida for an HVAC tech was $21.85, and the average yearly salary was $45,450.
If your goal is to make six figures while working as an HVAC tech, it is definitely within reach.
The average profit margin for an HVAC company is less than 2%. This is due to poor management of expenses and a lack of consistent revenue throughout the year. With the right HVAC business plan and a solid financial plan and price book, an HVAC business can reach as high as 10-20% net profit.
HVAC contractors are, to an extent, recession-proof. However, different HVAC businesses perform very differently under economic pressures. In other words, you must put in some effort to reinforce your business against recessions.
While both positions require technical knowledge and physical stamina, the technician's role involves advanced problem-solving skills and the capability to handle emergency repairs and maintenance. Consequently, HVAC technicians often earn a higher salary compared to HVAC installers.
Some examples of blue-collar jobs include construction workers, electricians, plumbers, carpenters, welders, machinists, heating and air conditioning technicians, truck drivers, mechanics, miners, factory workers and farmers.
Your work schedule depends on whether you're an apprentice, intern, or experienced technician. As an apprentice or intern, you need to work between 15 and 30 hours a week. However, experienced technicians working full-time amass 40 or more hours every week.
Yes, HVAC technicians can earn $100K a year, especially in the highest paying states or specialized fields such as commercial HVAC or system design. As service techs gain experience and move into higher positions or own their businesses, their annual pay can reach or exceed this threshold.
According to the BLS, as of November 2019, jobs for HVAC technicians are set to grow by 13 percent between 2018 and 2028. This rate is faster than the average growth rate for all other job fields. The US Department of Energy also recently reported that jobs that support energy-efficient products are growing.