What is the Average Salary of a General Contractor

General contractors play a crucial role in the construction industry. They are responsible for managing and overseeing construction projects, ensuring that they are completed on time, within budget, and according to the specifications provided. With such a significant responsibility, it is only fair to wonder what the average salary of a general contractor is.

The salary of a general contractor can vary depending on a multitude of factors, including experience, location, qualifications, and the scale of the projects they handle. However, to gain a general understanding, we can look at the average salary range for this profession.

According to the U.S. Bureau of Labor Statistics (BLS), as of May 2020, the median annual wage for construction managers, which includes general contractors, was $97,180. The lowest 10 percent earned less than $57,860, while the highest 10 percent earned more than $169,070. It is important to note that these figures are for construction managers as a whole and not solely general contractors. Nonetheless, they provide us with a useful benchmark.

Experience is often a crucial factor in determining a general contractor’s salary. As with many professions, the more experience one has, the higher the salary tends to be. Starting out as an entry-level general contractor with limited experience may result in a lower salary. However, as one gains experience and proves their capabilities, the salary is likely to increase.

Location also plays a significant role in salary determination. The cost of living can vary greatly from one place to another, and this is reflected in salaries. General contractors working in metropolitan areas or regions with a high demand for construction services may expect higher incomes compared to those in rural or less populated areas.

Qualifications and certifications can also impact a general contractor’s earning potential. Pursuing additional education and obtaining certifications can demonstrate a higher level of expertise, making them more valuable to contractors and clients. Certifications such as the Certified Construction Manager (CCM) or a Project Management Professional (PMP) can increase job opportunities and potentially lead to higher salaries.

Lastly, the scale and complexity of the projects a general contractor handles can influence their salary. Larger projects often involve more responsibility, risk, and coordination. Therefore, general contractors who take on complex projects are likely to earn more than those handling smaller, simpler projects.

In conclusion, the average salary of a general contractor can vary significantly depending on various factors, including experience, location, qualifications, and the scale of projects they handle. While the median annual wage for construction managers, including general contractors, was $97,180 as of May 2020, it is important to remember that individual circumstances can greatly influence salaries. As general contractors gain experience, pursue additional education and certifications, and handle larger and more complex projects, their earning potential is likely to increase.