If you are considering entering the electrical contracting industry, or just curious about the earning potential, it is natural to ask the question: how much does an electrical contractor make?
The answer to this question is not a straightforward one, as it can vary greatly depending on location, experience, and the size and type of contracting company. However, we can provide a general overview of the average earnings for electrical contractors in the United States.
According to the Bureau of Labor Statistics (BLS), the median annual salary for electricians, which includes electrical contractors, was $56,180 as of May 2019. The lowest 10% of electricians earned less than $33,410, while the highest 10% earned more than $96,580.
It is important to note that this data represents electricians in general, and electrical contractors may earn more or less depending on their specific role and responsibilities. For example, a general electrical contractor who works on residential projects may earn less than one who specializes in commercial or industrial projects.
Experience is also a significant factor in determining an electrical contractor`s salary. New contractors may earn less than those with several years of experience, as they build their reputation and skills. However, experienced electrical contractors who have established a strong reputation in their industry may be able to command higher salaries.
Location can also impact an electrical contractor`s salary. Electrical contractors in urban areas with higher costs of living, such as New York City or San Francisco, may earn more than those in rural areas with lower living costs.
It is worth noting that electrical contractors may also earn additional income through overtime pay, bonuses, or owning their own business. Owning a contracting company can provide greater earning potential, but also requires additional responsibilities and risk.
In summary, the earning potential for electrical contractors can vary greatly depending on a variety of factors. The median annual salary for electricians was $56,180 as of May 2019, but electrical contractors may earn more or less depending on their specific role, experience, location, and the size and type of their company.