Seattle hourly rates

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Hi, I was wondering if anybody works in the Seattle area and can comment on going hourly wages. Probably other cities whether in Washington or not that are highly regulated (strict license requirements, bonding, etc)
would be similar I assume? To be specific, what should I charge hourly (or target for a bid) on residential work where I work for myself and I am legally license and in business (not what I would get paid working for a company)? I recently moved form a rural area on the east coast so that drastically different work environment along with it being post bubble leaves me pretty lost as to what rates I should be charging. Also what should I pay a green apprentice, and what should I bill him out at? Thanks!
 

flyboy

Member
Location
Planet Earth
Hi, I was wondering if anybody works in the Seattle area and can comment on going hourly wages. Probably other cities whether in Washington or not that are highly regulated (strict license requirements, bonding, etc)
would be similar I assume? To be specific, what should I charge hourly (or target for a bid) on residential work where I work for myself and I am legally license and in business (not what I would get paid working for a company)? I recently moved form a rural area on the east coast so that drastically different work environment along with it being post bubble leaves me pretty lost as to what rates I should be charging. Also what should I pay a green apprentice, and what should I bill him out at? Thanks!

How much of a salary are you going to pay yourself?
What about health, life and disability insurance benefits for yourself and your apprentice?
What percentage of profit do you want to end up with at the end of the year?
Do you know what your fixed costs (overhead) are going to be?
Have you figured out what your going to calculate your billable efficiency at?
Do you know the formulae for calculating your pricing structure?
Who's going to do your books and how much are you going to pay them?

These are just some of the things you need to know to come up with your pricing structure. It is not based on "going rates". There is no such thing. If you price yourself at what you think or determine "going rates" are you will not last long in this business.

Do you have a budget?
Do you have a business plan?

You do need these things right from the begining, day one, to be truly successful in business.

Do yourself, your family and your apprentice (employee) a favor and learn these things right away; don't wait.

Cheers!
 

Little Bill

Moderator
Staff member
Location
Tennessee NEC:2017
Occupation
Semi-Retired Electrician
Hi, I was wondering if anybody works in the Seattle area and can comment on going hourly wages. Probably other cities whether in Washington or not that are highly regulated (strict license requirements, bonding, etc)
would be similar I assume? To be specific, what should I charge hourly (or target for a bid) on residential work where I work for myself and I am legally license and in business (not what I would get paid working for a company)? I recently moved form a rural area on the east coast so that drastically different work environment along with it being post bubble leaves me pretty lost as to what rates I should be charging. Also what should I pay a green apprentice, and what should I bill him out at? Thanks!

green apprentice=environmentally friendly helper:lol:

I don't know anything about your question but couldn't pass that up.
 
Flyboy,

Thanks for you concern, but all that is figured out and I dont think any of that is relevent to my question anyway.
Of course there are "going rates" and I could tell you very accuratley what they are for various scopes of work in Otsego county NY. Czeeesh, Im not going to start pre printing invoices with a figure someone throws out here, just looking for some ballparks about what the market - a new one for me - will support.
 

flyboy

Member
Location
Planet Earth
Flyboy,

Thanks for you concern, but all that is figured out and I dont think any of that is relevent to my question anyway.

It's completely relevent to your question. If you have it "figured out" then you wouldn't need to ask the question about "going rates"; you would have arrived at your pricing structure which is based on your expenses.

Of course there are "going rates" and I could tell you very accuratley what they are for various scopes of work in Otsego county NY.

I guarantee you, if you go by these so called "going rates" you will not make any money in this business. The best you can hope for is creating a a job for yourself.

Czeeesh, Im not going to start pre printing invoices with a figure someone throws out here, just looking for some ballparks about what the market - a new one for me - will support.

I'm not sure what you mean by this. We've use a flatrate price book for all our electrical services since 1995. What isn't in the book is calculated using a formulae. As prices on equipment and material, labor increases and overhead changes, we print out new books and adjust the formulae with new prices to reflect the increases.

I was only trying to help by offering my over 25 years of business experience and success in the electrical contracting business. I started out just like everyone else with one truck and a dream. It took me the first 10 years of struggling to learn what I just passed on to you.

Again, just trying to help by giving back.

Cheers and best of luck to you.
 

jmsbrush

Senior Member
Location
Central Florida
Flyboy, there is no one here that could say it better than how you just said it.

To the OP. Buy a book called, "How much should I charge?" It will be the best $15.00 spent.
When your pricing structure is based of what Flyboy is talking about, you will no longer worry or be curious what the other guy is doing.
You will be confident knowing that every price you quote, is what you need to have a successful business and provide good careers for your fellow electrician.
 
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