General Contractor Salaries and Rates
Reputable sources put average general contracting salaries in the $70,000 to $95,000+ range once you’re established. With some experience, you’ll probably be able to charge upwards of $500 a day and expect about $90,000 as an annual general contractor salary. General contractor rates are typically on a per-project basis and charge 10 to 20% of your overall project cost. A contractor will probably charge $300 to $500 a day for themselves, possibly more, and $150 to $250 a day per helper or laborer. That covers their overhead expense costs as well as profit.
Hiring a General Contractor
It’s worth hiring a general contractor for large projects that require more than a week, several pros or multiple permits to complete. For example, a kitchen remodel takes about 5 to 6 weeks. A general contractor ensures smooth management and execution of the project.
Comparative Salaries in Construction Industry
While specialized construction contractors typically see lower average wages than general contractors, they also don’t have all of the management responsibilities. The national average plumber salary is around €45,000—approximately 12% less than a general contractor’s salary. Electrician contractors are one of the highest-paid specialized roles and have the same average salary as a general contractor.
General Contractor Earnings Comparison
A general contractor has various management responsibilities and needs to be skilled in various trades. There are specialized trades in the construction industry; however, those require more limited yet specialized skills. People working in such trades typically earn less when compared to general contractors. Here is how the salary of a general contractor compares to other construction careers:
- General Contractors and Electricians: An electrician has the responsibility of installing, repairing, and maintaining electrical systems.
Key Factors Influencing Contractor Salaries
The salary a contractor makes depends on some general factors, including their experience, the type of work they do, and the location. Most contractors earn a good wage.
General Contractor Expenses and Fees
The national average cost to hire a general contractor is $1,500. On average, customers pay between $800-$2,212 for general contracting services. Small jobs may cost as little as $50, while big jobs may cost tens of thousands of dollars.
Licensing and Salary in Florida
Reputable sources estimate general contracting salaries range $70,000 to $95,000+ once established in Florida. Education and experience play a role in determining the salary. To become a licensed contractor in Florida, there are specific requirements to meet. General contractors earn among the highest compared to other contracting businesses with an average income of $44,000, increasing with experience.
Making Money as a General Contractor
General contractors have various opportunities to make money by renovating offices or rooms and providing full-service renovation specialist services. Developing relationships and understanding regulations are essential to become successful in the field. Finding and winning contracts is crucial for financial success.