Architecture and engineering executives forecast industry growth

As the economy continues along the path of recovery, architecture and engineering executives seem to be optimistic, according to Zetlin & De Chiara and Grassi & Co.'s 2013 A&E Market Outlook Survey. Half of the executives surveyed foresaw an overall recovery of architecture and engineering occurring in 2014. The research indicates these industries will be poised to grow in the next two years, and many firms will be able to add to their current staff, which will make the services of engineering recruiters very valuable. 

More than 75 percent of executives reported they expect their staff to increase in 2013, specifically at the professional and general administrative levels. Seventy percent of respondents said they increased engineers' salaries in 2012, and a significant percentage were able to give out bonuses as well. This could mean many new opportunities for engineers. 

Seventy-one percent of respondents said they expected their revenues in 2013 to be higher than the previous year, and less than 10 percent thought their revenues would decrease. Executives said they would continue focusing on expanding business offerings and geographical reach in 2013. In addition, 91 percent reported the majority of the work their firm performs is located in the U.S. If expansion remains a top priority, firms could be increasing their staff numbers very soon.

The U.S. Department of Labor's Bureau of Labor Statistics March employment report found 88,000 jobs were added last month. An estimated 2,100 of the new positions were in architecture or engineering. Architecture jobs have been growing at their fastest rate since November 2007.

Impact for architecture and engineering firms
According to the A&E Market Outlook Survey, many executives said their top goals for 2013 and 2014 include increasing profitability, containing costs and hiring new key staff members. Most of the respondents expressed optimism about their industry, despite the remaining uncertainty. Architecture and engineering firms were hit hard by the recession, and the industry has changed a great deal. Now however, firms are more optimistic about work coming in from the private sector than they were last year, and new jobs have been added in the industry.

The survey results seem to point toward growth in engineering and architecture, which could mean firms will need assistance hiring quality professionals. Companies looking to expand can rely on the services of an engineering headhunter to find excellent candidates for new positions. 

×