General Contractor Average Salary

General Contractor Average Salary: All You Need to Know

Before delving into the nitty-gritty of general contractor salary, it`s important to understand who a general contractor is, their role, and what their job entails.

A general contractor is a professional who oversees and manages construction projects from the bidding and planning stages to the final completion of the project. They are responsible for hiring and supervising subcontractors, obtaining necessary permits, adhering to building codes, and ensuring that the project is completed within the agreed timeline and budget.

Now, let`s talk about the general contractor average salary.

According to the Bureau of Labor Statistics (BLS), the median annual salary for general contractors as of May 2020 is $97,180. The lowest 10 percent of general contractors earned less than $47,350, while the highest 10 percent earned more than $173,790. The average hourly wage for general contractors is $46.73.

It`s important to note that a general contractor`s salary can vary depending on several factors, including their level of experience, the region they work in, and the type of construction projects they oversee.

For instance, a general contractor who has been in the industry for several years and has specialized in managing large-scale construction projects is likely to earn more than someone who is just starting out. Similarly, general contractors who work in high-demand regions may command higher salaries than those working in less populated areas.

Lastly, the type of construction project a general contractor manages can also influence their salary. For example, a general contractor who specializes in commercial construction is likely to earn more than one who works solely on residential projects.

So, if you`re considering a career as a general contractor, it`s essential to understand these factors and how they might impact your earnings. It`s also important to note that the demand for general contractors is expected to grow by 5 percent from 2019 to 2029, which means that there will be plenty of opportunities to secure a job and grow your earning potential.

In conclusion, the average salary for a general contractor is just under six figures per year, which is a good salary range for a professional in the construction industry. However, as with any profession, your salary will depend on several different factors, so it`s essential to do your research and understand your worth to negotiate a competitive salary.