I can speak to the financial rewards of being a city worker. Wages for city workers vary widely depending on geography. As an office worker, Im in the bottom 25% on our companys pay scale, down with the guys who were only with us a few months. But of course it is a dangerous job. They probably didnt know I made 30% less than them! | Financial Samurai. [wp_ad_camp_1] $60-90K a year in the midwest is like $120,000 $180,000 here in SF. It is who you know and what they think about you that counts. HELL NO! $115 $160K is the standard for Silicon Valley engineers with MS degrees.
Such opportunities are plentiful in so-called blue collar professions, or trade craft professions. You take college readiness tests. My biggest regret is going to college. My take is that when you are young and have the energy, to try and make as much as you can. I think trade school is a great way tonget started in life. My neighbor owns a boat and a diesel truck and works as a truck driver. .site-title a{background:url(//i2.wp.com/i2.wp.com/financialsamurai.com/wp-content/uploads/2020/07/cropped-financial-samurai-banner-2020.png) no-repeat !important; } What is the starting salary of an electrician? As far as I know, he likes to spend time inventing new things and fixing anything that goes wrong at home. But then, theyre also doing hard, dangerous, manual labor, through all types of weather. He doesnt make what yours makes but he gets by pretty well.
All the while us smarter kids went to college (undergrad/grad school) and dont even make what he is making!
Try to always look at the positive side of things no matter what, because if you dont believe in yourself, nobody else will. Personally, Id much rather pay an electrician or plumber a high hourly wage instead of someone who majored in gender studies, or art appreciation in college. Depending on where you live, you can earn significantly more or less as an electrician. I did earn that BS Computer Science, as well as and MBA, and earn well below $100K and am still working into my 50s. With any profession, in addition to being technically qualified, you also (in most cases) need to know people and get people to like you. Its the only book that teaches you how to negotiate a severance.
Since we all make the same $ per hour we are very open to discussing our retirement plans. Electrical contractor A guy who drives the van, repairs,installs, invents technical solutions to problems. I can still transition to WS after I have experience. .rll-youtube-player, [data-lazy-src]{display:none !important;}, Updated: 08/12/2021 by Financial Samurai 68 Comments.
By early 2012, it started making a livable income stream so I decided to negotiate a severance package. The good thing about the UK though is that university is so cheap! I also just got a new affordable 20-year term policy with them. In the early 80s, in my late teens, I was earning my BS Computer Science at a reputable New England college and working part-time at Radio Shack for $5 per hour. So, in 12 years at age 62, I will have 32 years of service, and my pension will be about $32K. And for 20+ years in order to qualify for a good pension? There is also overtime available that can bring you up to six figures if your base wage is not six figures yet. Illget roughly $5,000 a month in pension money once Ihit 55,but when they hit 55, theyll get $6,000 a month or more..
So if you do just walk in the door and get one of those 150k jobs you are very lucky. But their pension.. boy oh boy, is awesome.
He hasa decent tennis game, but because he wasnt in fighting shape he tired easily after the first set. gtag('js', new Date()); To me its at what point is it worth working more on other peoples investments than mine? Boilermakers also weld and operate tools and machinery in locomotive equipment. I agreed and asked him about other work he does given he has so much free time. Whats more remarkable Sam, is that shortages are developing for many of the trades. Union members often have access to more benefits than their nonunion counterparts such as healthcare. Check outHow To Engineer Your Layoff: Make A Small Fortune By Saying Goodbye. The blue collar jobs above are proof that you dont need a college degree to earn a good salary; all you need is some training,networking,and a good work ethic. Some people had to start over in their 60s due to the financial crisis. College isnt (and cant!) They have a 35 hour work week and get paid for 40 hours. The work is definitely harder than sitting behind a desk and computer, thats for sure. It is not difficult for these guys to make $150K. Quite a dilemma! My city government employer eliminated 100 jobs more than 10% of its workforce during 09 10 and remains as such. There are plenty of opportunities out there for people to make money.
Working for the government at all levels for an extended period of time is definitely a great way to get wealthy. If youre a woman or a minority, and a halfway decent worker, youre pretty much guaranteed as much work as you want. The biggest factor here is location. $100,000+ electricians are common. Always keep an eye out for other job openings. The best way to get started is to try to get into a union apprenticeship program. Right now the heatlhcare sector is booming and there is a shortage of al workers especially nurses. Nuclear reactor operators are responsible for controlling a nuclear reactor via the control panel in a powerplant. Conversely, if you quit your job you get nothing. Leroy is a 44 year old black man weighing in at roughly 215 pounds and stands6 feet tall. You never know where the journey will take you!
You also need to complete 4,000 hours or about two years of work as a journeyman. Id like to share with you my latest income anecdote as another example of people making way more than wethink. If you're short on work, just look for jobs outside of the electrical field. I think their hourly rate is on the order of $60/hr, PLUS BENEFITS. Having a financial runway is huge during your transition period. Do note that construction management jobs are cyclical with the real estate market. Ive personally invested $810,000 in private real estate to take advantage of lower valuations and higher cap rates in the Sunbelt. At 150 to 200k a year, it doesnt make much sense to live in Bayview to me. years of night school in addition to the apprenticeship. I spent 13 years working at Goldman Sachs and Credit Suisse. Some of my colleagues are making much more since they went straight to trade school after high school and have so much more saved up. On the basis of median wage estimates compiled by the United States Bureau of Labor Statistics (BLS), the earnings for this job would be $36 per hour. Premiums on a 55yr old ex construction worker are understandably pretty high. Leroy was a nice guy,so when I had to change my outside electrical panel, I gave him a call to do the work. Its curious no matter what the statistics say, theres somebody out there somewhere who doesnt believe the figures. How much does a union master electrician make? That being said, the guys (and gals) that I deal with are, in general, professionals and earn what they make. Likewise, your salary is fairly good as compared to what the rest of the country earns. I make more than $150k a year with a college degree, but I could have done the same thing without a degree. Author Bio: I started Financial Samurai in 2009 to help people achieve financial freedom sooner. And so long as they stay in the union, a great pension (with healthcare) is pretty much a guarantee. Construction is a physically exhausting so dont go into it if you are not physically able.
But journey-level longshoremen can expect to make up to $120,000. A lot of the trades do pay more than youd imagine at first, a lot of the times because there arent many qualified people out there to fill the jobs. And it bugs me the way some of the guys use the system; I have guys making $80,000 a year who turn around and apply for utility assistance during the winter! Given the skepticism, I like to look at real life anecdotes and report back my findings. Im only a 5th year non-union apprentice. 11 more years and hesthere. My girlfriends father was a union sheet metal worker in Massachusetts and, in 1983, he showed me his W-2 for the year $65K! My salary has increased by just 10% in the last ten years. Actual annual salary is closer to 55k before taxes.
I have a college degree, plus some graduate school, and am the bottom 1/4 of annual wages at our company (in with the new employees who only end up being employed a month or two before being let go.). But for most of us, working for the government seems like a great way to go. It is so many factors which determine what we make annually.
Im about to graduate with my EE and in NM Im looking at starting pay of 105k pre benefits on a masters and it just goes up from there If youre a top student in engineering at any school you will probably start around 100k and get 250k+. He also got a divorce. Union Membership: Many electricians are members of a union. However, most kids who excelled in academics in school nor most readers of your blog probably arent likely pursue these blue collar professions. Id have mud on my boots as the Director of Engineering for a government entity, and had a lot of respect that came with the title, but I didnt have a salary as high as some of the heavy equipment operators on site. Not only will you build more wealth by reading my book, youll also make better choices when faced with some of lifes biggest decisions.
My first year I worked in Stockton, Ca and was making a base pay of $18/hr, with a total package of around $28/hr. Most people dont realize or believe how well union electricians do, or how much job satisfaction we have. Theres a reason some jobs pay better than others. Weve been brainwashed into thinking that going to a four-year college is the only way to make enough money to live a happy life. On the one hand, its a little frustrating that I have a college degree, and some graduate school, and am making much less than guys straight out of high school with zero experience.
As a construction manager you will manage, plan, supervise, and coordinate construction projects from beginning to end. Not that it matters, but are we sure thats his gross pay or is it his gross package. Financial Samurai is now one of the largest independently run personal finance sites with about one million visitors a month. Their base rate may be closer to $60 or $65 but there are many opportunities for OT. Engineers make a LOT thinking we rarely do OT if you know where to look and great hours etc. I am a union electrician in the southeast who also happens to be a college dropout. I have a set of skills that not everyone can do and found the union when I did, my point is not everything is bells and whistles though and people can and will exaggerate things from time to time. Unfortunately many of them spend too much on big diesel trucks and greedy women who divorce them and steal half, so they begin to rely on $300k as normal.
Local government across the country are down something like 1 million over the same period. I will receive a defined benefit pension at age 62 (thats in 12 years), which, as of my current service time (20 years), will be about $20K (in todays dollars). In some states, you have to pass an exam in order to become a licensed master electrician. At my school, we have auto shop, the kids can go to a trade school and earn $1-200k a year after they graduate. Were in the Midwest, so our wage scales arent as high, but most of our guys will clear $50,000-90,000, working 6-9 months a year. Entry level positions start at $55,000 per year while most experienced workers make up to $137,594 per year. The average IBEW salary ranges from approximately $35,000 per year for Technician to $89,133 per year for Electrical Foreman. Almost all of them will claim unemployment during the off season as well. The income spread really widens the more senior you get. I am in Chicago. Drivers are in high demand and earn a great pay which many should take advantage of before driving is automated in the next 15-20 years. I figured I would pay him an hourly rate of $30 or less to get the project done. A Guy Who Just Turned 30 Gives Advice to 20-Somethings About Finance and Life, 14 Things Only Government Employees Can Understand, A journey-level union worker electrician in San Francisco makes about $150,000 a year, How the Federal Reserve Increases Money Supply. There are plenty of stories of successful entrepreneurs who never graduated from college, but make millions. I meant to say that I lost interest in college during my senior year of high school not college. I worked in Santa Clara also, which is the highest paying county, and I was making $32 base, and $48 Total package. The company installs solar energy systems. The Bureau of Labor Statistics estimates that from 2012 to 2022, the occupation is going to grow 16 percent. Federal and Local governments downsized greatly during the Great Recession as well. He is a union worker electrician. Also a huge trade to get into if you can call it that is driving.
Such opportunities are plentiful in so-called blue collar professions, or trade craft professions. You take college readiness tests. My biggest regret is going to college. My take is that when you are young and have the energy, to try and make as much as you can. I think trade school is a great way tonget started in life. My neighbor owns a boat and a diesel truck and works as a truck driver. .site-title a{background:url(//i2.wp.com/i2.wp.com/financialsamurai.com/wp-content/uploads/2020/07/cropped-financial-samurai-banner-2020.png) no-repeat !important; } What is the starting salary of an electrician? As far as I know, he likes to spend time inventing new things and fixing anything that goes wrong at home. But then, theyre also doing hard, dangerous, manual labor, through all types of weather. He doesnt make what yours makes but he gets by pretty well.
All the while us smarter kids went to college (undergrad/grad school) and dont even make what he is making!
Try to always look at the positive side of things no matter what, because if you dont believe in yourself, nobody else will. Personally, Id much rather pay an electrician or plumber a high hourly wage instead of someone who majored in gender studies, or art appreciation in college. Depending on where you live, you can earn significantly more or less as an electrician. I did earn that BS Computer Science, as well as and MBA, and earn well below $100K and am still working into my 50s. With any profession, in addition to being technically qualified, you also (in most cases) need to know people and get people to like you. Its the only book that teaches you how to negotiate a severance.
Since we all make the same $ per hour we are very open to discussing our retirement plans. Electrical contractor A guy who drives the van, repairs,installs, invents technical solutions to problems. I can still transition to WS after I have experience. .rll-youtube-player, [data-lazy-src]{display:none !important;}, Updated: 08/12/2021 by Financial Samurai 68 Comments.
By early 2012, it started making a livable income stream so I decided to negotiate a severance package. The good thing about the UK though is that university is so cheap! I also just got a new affordable 20-year term policy with them. In the early 80s, in my late teens, I was earning my BS Computer Science at a reputable New England college and working part-time at Radio Shack for $5 per hour. So, in 12 years at age 62, I will have 32 years of service, and my pension will be about $32K. And for 20+ years in order to qualify for a good pension? There is also overtime available that can bring you up to six figures if your base wage is not six figures yet. Illget roughly $5,000 a month in pension money once Ihit 55,but when they hit 55, theyll get $6,000 a month or more..
So if you do just walk in the door and get one of those 150k jobs you are very lucky. But their pension.. boy oh boy, is awesome.
He hasa decent tennis game, but because he wasnt in fighting shape he tired easily after the first set. gtag('js', new Date()); To me its at what point is it worth working more on other peoples investments than mine? Boilermakers also weld and operate tools and machinery in locomotive equipment. I agreed and asked him about other work he does given he has so much free time. Whats more remarkable Sam, is that shortages are developing for many of the trades. Union members often have access to more benefits than their nonunion counterparts such as healthcare. Check outHow To Engineer Your Layoff: Make A Small Fortune By Saying Goodbye. The blue collar jobs above are proof that you dont need a college degree to earn a good salary; all you need is some training,networking,and a good work ethic. Some people had to start over in their 60s due to the financial crisis. College isnt (and cant!) They have a 35 hour work week and get paid for 40 hours. The work is definitely harder than sitting behind a desk and computer, thats for sure. It is not difficult for these guys to make $150K. Quite a dilemma! My city government employer eliminated 100 jobs more than 10% of its workforce during 09 10 and remains as such. There are plenty of opportunities out there for people to make money.
Working for the government at all levels for an extended period of time is definitely a great way to get wealthy. If youre a woman or a minority, and a halfway decent worker, youre pretty much guaranteed as much work as you want. The biggest factor here is location. $100,000+ electricians are common. Always keep an eye out for other job openings. The best way to get started is to try to get into a union apprenticeship program. Right now the heatlhcare sector is booming and there is a shortage of al workers especially nurses. Nuclear reactor operators are responsible for controlling a nuclear reactor via the control panel in a powerplant. Conversely, if you quit your job you get nothing. Leroy is a 44 year old black man weighing in at roughly 215 pounds and stands6 feet tall. You never know where the journey will take you!
You also need to complete 4,000 hours or about two years of work as a journeyman. Id like to share with you my latest income anecdote as another example of people making way more than wethink. If you're short on work, just look for jobs outside of the electrical field. I think their hourly rate is on the order of $60/hr, PLUS BENEFITS. Having a financial runway is huge during your transition period. Do note that construction management jobs are cyclical with the real estate market. Ive personally invested $810,000 in private real estate to take advantage of lower valuations and higher cap rates in the Sunbelt. At 150 to 200k a year, it doesnt make much sense to live in Bayview to me. years of night school in addition to the apprenticeship. I spent 13 years working at Goldman Sachs and Credit Suisse. Some of my colleagues are making much more since they went straight to trade school after high school and have so much more saved up. On the basis of median wage estimates compiled by the United States Bureau of Labor Statistics (BLS), the earnings for this job would be $36 per hour. Premiums on a 55yr old ex construction worker are understandably pretty high. Leroy was a nice guy,so when I had to change my outside electrical panel, I gave him a call to do the work. Its curious no matter what the statistics say, theres somebody out there somewhere who doesnt believe the figures. How much does a union master electrician make? That being said, the guys (and gals) that I deal with are, in general, professionals and earn what they make. Likewise, your salary is fairly good as compared to what the rest of the country earns. I make more than $150k a year with a college degree, but I could have done the same thing without a degree. Author Bio: I started Financial Samurai in 2009 to help people achieve financial freedom sooner. And so long as they stay in the union, a great pension (with healthcare) is pretty much a guarantee. Construction is a physically exhausting so dont go into it if you are not physically able.
But journey-level longshoremen can expect to make up to $120,000. A lot of the trades do pay more than youd imagine at first, a lot of the times because there arent many qualified people out there to fill the jobs. And it bugs me the way some of the guys use the system; I have guys making $80,000 a year who turn around and apply for utility assistance during the winter! Given the skepticism, I like to look at real life anecdotes and report back my findings. Im only a 5th year non-union apprentice. 11 more years and hesthere. My girlfriends father was a union sheet metal worker in Massachusetts and, in 1983, he showed me his W-2 for the year $65K! My salary has increased by just 10% in the last ten years. Actual annual salary is closer to 55k before taxes.
I have a college degree, plus some graduate school, and am the bottom 1/4 of annual wages at our company (in with the new employees who only end up being employed a month or two before being let go.). But for most of us, working for the government seems like a great way to go. It is so many factors which determine what we make annually.
Im about to graduate with my EE and in NM Im looking at starting pay of 105k pre benefits on a masters and it just goes up from there If youre a top student in engineering at any school you will probably start around 100k and get 250k+. He also got a divorce. Union Membership: Many electricians are members of a union. However, most kids who excelled in academics in school nor most readers of your blog probably arent likely pursue these blue collar professions. Id have mud on my boots as the Director of Engineering for a government entity, and had a lot of respect that came with the title, but I didnt have a salary as high as some of the heavy equipment operators on site. Not only will you build more wealth by reading my book, youll also make better choices when faced with some of lifes biggest decisions.
My first year I worked in Stockton, Ca and was making a base pay of $18/hr, with a total package of around $28/hr. Most people dont realize or believe how well union electricians do, or how much job satisfaction we have. Theres a reason some jobs pay better than others. Weve been brainwashed into thinking that going to a four-year college is the only way to make enough money to live a happy life. On the one hand, its a little frustrating that I have a college degree, and some graduate school, and am making much less than guys straight out of high school with zero experience.
As a construction manager you will manage, plan, supervise, and coordinate construction projects from beginning to end. Not that it matters, but are we sure thats his gross pay or is it his gross package. Financial Samurai is now one of the largest independently run personal finance sites with about one million visitors a month. Their base rate may be closer to $60 or $65 but there are many opportunities for OT. Engineers make a LOT thinking we rarely do OT if you know where to look and great hours etc. I am a union electrician in the southeast who also happens to be a college dropout. I have a set of skills that not everyone can do and found the union when I did, my point is not everything is bells and whistles though and people can and will exaggerate things from time to time. Unfortunately many of them spend too much on big diesel trucks and greedy women who divorce them and steal half, so they begin to rely on $300k as normal.
Local government across the country are down something like 1 million over the same period. I will receive a defined benefit pension at age 62 (thats in 12 years), which, as of my current service time (20 years), will be about $20K (in todays dollars). In some states, you have to pass an exam in order to become a licensed master electrician. At my school, we have auto shop, the kids can go to a trade school and earn $1-200k a year after they graduate. Were in the Midwest, so our wage scales arent as high, but most of our guys will clear $50,000-90,000, working 6-9 months a year. Entry level positions start at $55,000 per year while most experienced workers make up to $137,594 per year. The average IBEW salary ranges from approximately $35,000 per year for Technician to $89,133 per year for Electrical Foreman. Almost all of them will claim unemployment during the off season as well. The income spread really widens the more senior you get. I am in Chicago. Drivers are in high demand and earn a great pay which many should take advantage of before driving is automated in the next 15-20 years. I figured I would pay him an hourly rate of $30 or less to get the project done. A Guy Who Just Turned 30 Gives Advice to 20-Somethings About Finance and Life, 14 Things Only Government Employees Can Understand, A journey-level union worker electrician in San Francisco makes about $150,000 a year, How the Federal Reserve Increases Money Supply. There are plenty of stories of successful entrepreneurs who never graduated from college, but make millions. I meant to say that I lost interest in college during my senior year of high school not college. I worked in Santa Clara also, which is the highest paying county, and I was making $32 base, and $48 Total package. The company installs solar energy systems. The Bureau of Labor Statistics estimates that from 2012 to 2022, the occupation is going to grow 16 percent. Federal and Local governments downsized greatly during the Great Recession as well. He is a union worker electrician. Also a huge trade to get into if you can call it that is driving.