labor rates

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4 x minimum wage for starting j-man wage and 3 x that for charge to customer. Thats a starting point anyway. Call some local contractors, they may help out. Join the local trade group and ask around.
 
speedystevie said:
$24 for a starting journeyman seems way high, when you say starting journeyman how long have they been an apprentice?
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That's a good point. In most southern states there is no real set experience level or education level to be called a journeyman. Some journeymen ( so called ) have as little as three years and no additional training. $24 an hour would be way high for these guys. A real journeyman that could function as lead man or foreman would be worth more than the beginers. Any special training could also get a worker more money. I don't think you could set a price for a journeyman here because the term is wide open.
 
growler said:
That's a good point. In most southern states there is no real set experience level or education level to be called a journeyman. Some journeymen ( so called ) have as little as three years and no additional training.
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I figure workers to be considered an apprentice for about 5 years. After 5 years I consider them to be a journeyman until they become a master either after 7 years and they pass the licensing test or after as many years as it takes to pass the test.

To many guys try to go into business and think they know all after 3 or 4 years. I am on my 10th year 3rd year as a master and I still am learning. The problem with people going out on their own to soon is that their learning curve drops drastically because no one is teaching them anymore and there is a lot to learn. I see allot of guys out there who go out on their own without ever touching commercial work, they can wire a house well but hand them a piece of EMT and suddenly you have three heads. Residential work can only take you so far, but some are happy pulling romex all day. The longer your an apprentice the more you learn, no need to rush.

Sorry for going off subject there.

$10 for a starting helper who shows effort to learn,
$13-$17 for an apprentice,
$18-$25 for a journeyman,

my opinion
 
Up here, "journeyman" is a state license, and you need at least four years of experience before you can test for it. The county where I live pays $32.19/hour to IBEW journeyman electricians, so I would guess that's the standard local union rate. Since there are currently several hundred IBEW electricians out of work, I would guess that pay in merit shops would be less than that.
 
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speedystevie said:
To many guys try to go into business and think they know all after 3 or 4 years. I am on my 10th year 3rd year as a master and I still am learning. The problem with people going out on their own to soon is that their learning curve drops drastically because no one is teaching them anymore
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I've seen this so many times. So often, it's also after getting laid off or fired. Collect, do side jobs, don't pay taxes. Wow, make a lot more than I used to. Had one of those a few years ago. Does it matter that he failed J-man test 4 times in 4 month before passing. Even after a "guaranteed to pass review course". But I'm digressing. Generally I don't care how "good" an electrician is overall, as long as they are good at the job they are actually doing. If they only know romex and only do romex, great. My problem is more with the guy who only does romex and doesn't even know romex sufficiently. Wait, I think I'm still digressing. Gotta go back and look at OP.
 
In Wilmington, NC I have been charging $60/hour for me alone plus mileage. I have a friend in Goldsboro that tells me he's lucky to get $50/hour. I'm thinking about going up. I went to $60 2 years ago.

I can afford to work at these rates because I don't really have any overhead. I don't advertise. I have a select group of prefered customers.

Good luck.
 
speedystevie said:
I figure workers to be considered an apprentice for about 5 years. After 5 years I consider them to be a journeyman until they become a master either after 7 years and they pass the licensing test or after as many years as it takes to pass the test.

To many guys try to go into business and think they know all after 3 or 4 years. I am on my 10th year 3rd year as a master and I still am learning. The problem with people going out on their own to soon is that their learning curve drops drastically because no one is teaching them anymore and there is a lot to learn. I see allot of guys out there who go out on their own without ever touching commercial work, they can wire a house well but hand them a piece of EMT and suddenly you have three heads. Residential work can only take you so far, but some are happy pulling romex all day. The longer your an apprentice the more you learn, no need to rush.

Sorry for going off subject there.

$10 for a starting helper who shows effort to learn,
$13-$17 for an apprentice,
$18-$25 for a journeyman,

my opinion
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Those are about the rates here.
 
Hardworking..

Don't do T&M work. Price it out per job. You can easily get $100.00+/hr
Hourly rates scare people quoted jobs don't.
 
I can afford to work at these rates because I don't really have any overhead.
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When figuring overhead there are many things to consider. If you're paying yourself a salary of $60k a year you have $60k of overhead per year right there alone. Your salary should be considered overhead.
Profit is what's left over after all overhead has been paid including your salary.
In my opinion if there's nothing left after paying yourself a decent salary than you've made zero profit.

Your tools and vehicles are going to wear out and need to be replaced. Even if these are paid for you should factor a replacement cost into your overhead so the money will be there when the time comes.

What about a retirment plan? SEP IRA? 401K?
Health insurance?

Below is a list of overhead expenses. Some you may or may not have but some you may have and are not including in your hourly rate.

30+ Day Receivables
Accounting
Advertising
Bad Checks
Bank Charges
Bonds
Bonuses
Building Insurance
Building Maintenance
Building Rent/Lease
Business Insurance
Call Backs
Christmas Party
Commissions
Company Tools
Computer Maint.
Computers
Copy Machine
Credit Card Sales
Damages
Delivery
Dispatcher
Drug Testing
Dues
Employee Insurance
Equipment
Files
Forms
Fuel
Grounds Maintenance
Holiday Pay
Incentives
In-House Training
Inspections
Interest
Inventory
Ladders
Law Suits
Legal
Liability Insurance
Licenses
Life Insurance
Loans
Management Training
Marketing
Material Purchases
Memberships
Mfg. Training
Office Equipment
Office Supplies
Office Training
Pagers/Cell Phones
Parts Storage
Pay Roll Taxes
Postage
Printing
Property Taxes
Radio Maintenance
Radios
Replacement Parts
Retainers
Retirement Plan
Safety Equipment
Safety Training
Salaries
Shortages
Software
Stationary
Subscriptions
Tangible Taxes
Tax Preparation
Tech Training
Telephones
Test Equipment
Theft
Toll Calls
Tool Replacement
Trade Association
Training Equipment
Trash Removal
Travel
Trips to Supply House
Truck Racks
Truck Signs
Unbillable Hours
Uncollected Money
Unemployment
Uniform Maintenance
Uniforms
Utilities
Vacation Pay
Vehicle Maintenance
Vehicles
Wages
Warehouse Space
Workers Comp.
 
aline said:
Profit is what's left over after all overhead has been paid including your salary.
In my opinion if there's nothing left after paying yourself a decent salary than you've made zero profit.QUOTE]

There is no room for profit with my salary...
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