As a professional, I have researched and gathered information about the general contractor`s salary and earnings. In this article, we will explore the question, “What does a general contractor make?”
First of all, let`s define what a general contractor is. A general contractor is a person or company responsible for managing and overseeing construction projects. They are responsible for coordinating all aspects of the project, including hiring subcontractors, obtaining permits, and ensuring that the project is completed on time and within budget.
The salary of a general contractor can vary widely depending on their level of experience, location, and the type of projects they work on. According to the Bureau of Labor Statistics, the median annual wage for general contractors was $93,370 in May 2019. However, the top 10 percent of earners made more than $164,790.
In addition to a base salary, many general contractors earn bonuses or commissions based on the size and complexity of the projects they oversee. They may also earn extra income by taking on additional responsibilities, such as managing multiple projects at once or serving as a consultant or advisor to other construction firms.
Of course, as with any profession, there are many factors that can affect a general contractor`s salary. For example, contractors who work in high-demand areas or specialize in certain types of construction may be able to command higher salaries than those who work in less competitive markets. Additionally, contractors who own their own businesses may have the potential to earn more than those who work for others, as they can set their own rates and take on as much work as they can handle.
In conclusion, while the salary of a general contractor can vary widely depending on many factors, it is clear that this is a lucrative and rewarding profession for those who have the skills and experience to succeed. Whether you are just starting out in the industry or are a seasoned veteran, there are plenty of opportunities for success and growth in this exciting field.