There are many factors that affect your salary as a general contractor, especially the local economy or the area where you live. For example, general contractors in the northeastern United States generally earn higher wages. Keep in mind that it`s important to consider the cost of living in your area when comparing general contractor salaries in different regions. Just as states with the highest economic activity and populations tend to pay more for general contractors, so do cities in those states. In 2018, the Veterans Health Administration hired the largest number of employees with the contract title with an average salary of $79,471. Some general contractors are generalists who coordinate any type of construction project, while others have a skilled trade such as home renovation, renovation to improve the environmental performance of a building, or heavy and civil engineering. They spend most of their time on a construction site, supervising the various subcontractors and making decisions about the project. Some GCs manage multiple projects at the same time and move from one location to another. Hours can be long and unpredictable. Approximately one-third of CCs work more than 40 hours per week and many are on call 24 hours a day in the event of an emergency. A general contractor often manages multiple projects for different clients at the same time and therefore tends to earn a higher salary. So what is the average salary of a general contractor? General contractor salaries in the United States range from $12,955 to $339,343 with an average salary of $62,328. The top 57% of general contractors earn between $62,330 and $154,114, while the top 86% earn $339,343.
The average general contractor in the U.S. earns $69,731. The average premium for a general contractor is $2,500, which equates to 4% of their salary, with 100% of people saying they receive a bonus each year. San Francisco general contractors earn the most at $100,942, which translates into an average total compensation that is 45% higher than the U.S. average. ffice. Compensation: Our client offers a base salary in the range of $80,000 to $130,000, depending on experience. There is also an annual premium. For example, the five highest-paid states for general contractors are California, Texas, New York, Florida, and Illinois.
These states all have large populations and strong economies, resulting in high construction activity and a need for skilled contractors. So, if you are planning to become an entrepreneur or are already working in the field, you can expect to earn a very good salary. And with a little effort and dedication, you can even earn a six-figure salary. So, if you`re looking for a financially rewarding career, signing a contract is definitely an option to consider. Employment in the GoC is expected to increase by 11% by 2026, representing an additional 44,800 jobs. This above-average growth rate is mainly due to a growing population and its need for additional housing, offices, shops, schools and public buildings. Newcomers should have many job opportunities, regardless of their area of expertise. If there is a dark cloud on the horizon, it is because the construction industry is very sensitive to fluctuations in the economy.
In the event of an economic downturn, construction activity usually decreases, reducing the need for general contractors. The industry you work in can also have a big impact on your income as a general contractor. In general, industries with the highest construction activity tend to be the highest paid for this occupation. For example, some of the highest-paying industries for contractors are housing, non-residential, heavy engineering and civil engineering.