Contractor License Compensation

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rvezeau

Member
Hello everyone,

I just found out I passed my exam for the Nebraska electrical contractors license. I also hold licenses for three other states. I hold the licenses for the company I work for. My question is: Does anybody else hold a license for their company and if so, what kind of compensation do you receive for holding the license? I'm looking forward to hearing from you and thanks in advance for your input.
 
jrannis

jrannis

Senior Member
Location
Fort Lauderdale/ Miami
rvezeau said:
Hello everyone,

I just found out I passed my exam for the Nebraska electrical contractors license. I also hold licenses for three other states. I hold the licenses for the company I work for. My question is: Does anybody else hold a license for their company and if so, what kind of compensation do you receive for holding the license? I'm looking forward to hearing from you and thanks in advance for your input.
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I believe somewhere between $1,000 and $2,000 per month would be fair. You have to consider how much time and effort it takes to get a license in your part of the world.
 
mdshunk

mdshunk

Senior Member
Location
Right here.
rvezeau said:
I hold the licenses for the company I work for.
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From a liability standpoint, I think you're nuts. It is possible that you're also a criminal without even realizing it, depending on the wording of the licensing laws in your state. FWIW, however, 1% seems like the standard rate for license rental.
 
celtic

celtic

Senior Member
Location
NJ
mdshunk said:
From a liability standpoint, I think you're nuts.
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Someone has to be the license holder....take that monster Emcor for example...here in NJ, they own "Forest Electric". Forest employs hundreds, if not thousands of men (if you include NYC :smile:...they own them there too).

If I am not mistaken(although I probably am), the license holder must also hold 10% of the company stock. That, coupled with 1%, a VP title AND a $250k salary wouldn't cause me to loose any sleep at night :wink:
 
jrannis

jrannis

Senior Member
Location
Fort Lauderdale/ Miami
mdshunk said:
From a liability standpoint, I think you're nuts. It is possible that you're also a criminal without even realizing it, depending on the wording of the licensing laws in your state. FWIW, however, 1% seems like the standard rate for license rental.
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Its not impossible, a shop with 100 guys might have a couple of service trucks, some tenent work and a medium sized job or two. Or maybe one big job.
 
Pierre C Belarge

Pierre C Belarge

Senior Member
Location
Westchester County, New York
I would also contact a construction attorney who can help you draft a contract that can protect you in some way. I have a friend who has/is doing just what you have asked. It is for a fairly large company. I will contact him and see what he is willing to tell me.
 
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