What Is the Average Salary of a General Contractor

An entrepreneur`s salary (= your salary) cannot negatively affect the company`s cash flow. As an owner, you need to make sure that the company can pay its bills. This includes payments for devices such as vehicles. This also includes the payment of material invoices. The cash flow of your projects should cover direct expenses for the work. It is difficult to determine the average salary of a contractor. If you ask how much entrepreneurs earn, then the answer is: it depends on the state you live in, the profession you are talking about, etc. General contractors are the «face» of a construction project. You are responsible for hiring subcontractors, creating cost plans, managing work schedules, and everything you can to complete the project on time and within budget. General contractors may work for large construction companies, but the majority are self-employed.

Six-figure salaries are not uncommon for the richest 20% of GCs. You don`t need specific qualifications to do this job, although graduates in construction management, civil engineering, or civil engineering tend to have the best career prospects. Most GCs start in a related occupation such as masonry, carpentry or other building specialties before moving on to general contracting; many become self-employed as independent GCs. With an industry-recognized certification, you can stand out in a crowded market. For those with the right experience, designations include Certified Construction Manager, Associate Constructor, or Certified Professional Constructor. Many states require a license for general contractors. Here`s a breakdown by occupation, according to the Bureau of Labor Statistics (updated may 2017 by BLS), and keep in mind that these wages are listed as a «median» salary. This means «the wage at which half of the workers in the profession earned more than that amount and the other half less. Data on median wages are from the BLS Survey of Occupational Employment Statistics.

Basically, this means that the salaries listed here are in the middle – half of the respondents earned less than the amounts listed here and the other half more than what is listed here. The amount you can expect for your annual electrician salary depends on your trading level. As you`d probably expect, the master electrician`s salary figures are higher than the average salary of the electrician`s journeyman. The average general contractor in the U.S. earns $69,731. The average premium for a general contractor is $2,500, or 4% of their salary, with 100% of people reporting receiving a bonus each year. General contractors are doing their best in San Francisco at $100,942 and earning an average total compensation that`s 45% higher than the U.S. average. .