Many Americans are turning their back on career paths that require a college education. The average person who takes out a student loan graduates from college with more than $30,000 in debt.
There are many blue-collar jobs that do not require such an investment. For example, electricians are in demand and paid well. By 2029, industry experts forecast there will be over 800,000 electricians in the United States. This represents an 8% growth rate which is must faster than the national average.
Have you ever wondered how much do electricians make a year? Read on for a comprehensive breakdown to salary and benefits for electricians.
How Much Do Electricians Make a Year?
In 2019, the Bureau of Labor Statistics (BLS) reported the median salary for an electrician was $56,180. This calculates to a robust wage of $27 per hour.
Salary and hourly wage vary depending on a few different factors. For instance, the electrician’s state of employment may drive salary even higher.
In Hawaii, the annual mean salary is nearly $78,000. Electricians in New York and the District of Columbia also earn over $76,000 on average.
Working in a densely populated urban center is going to positively impact wages as well. Electricians working in New York City and the surrounding metropolitan areas earn nearly $84,000 on average.
This trend extends to other major cities like Chicago and Los Angeles. In San Rafael, California, the average annual wage rises to nearly $93,000.
Clearly, salary is heavily dependent on where you work. There are other factors such as employer and experience. Electricians with more years of experience are going to command a higher wage.
Also, your wage is dependent on the employer. A large and profitable company may offer a higher wage for licensed electricians than a smaller operation. You may find the highest level of income by starting your own business.
What Are Other Benefits for Electricians?
Many electricians belong to unions that fight for generous benefits. This means that they are eligible for quality health and dental insurance benefits.
A high-paying job is not as appealing without access to benefit programs. Quality health insurance often costs thousands of dollars per month. With a union job, the employer is likely to pay the vast majority of your insurance costs.
There are other benefits that are available to electricians. Life insurance is another notable area where electricians receive affordable union rates.
A large number of electricians receive a pension or 401(k) savings plan. This helps enormously with their retirement planning. There are other benefit programs like Health Savings Accounts (HSAs) or vision insurance as well.
Why Is Pursuing a Career as an Electrician Worth It?
We have made a strong case why working as an electrician is a good career choice. There are hundreds of thousands of high-paying jobs out there.
You do not need to take on an excessive amount of debt to get in. Also, generous benefits programs like health and life insurance are available to electricians.
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