Carpenters make a median salary of around $49,520. The highest paid carpenters can make up to $64,480. The lowest paid percentage of carpenters can make around $38,240. Depending on the kind of carpenter you are, you can earn more or less.
Say you work in the construction industry for example. Many carpenters do find work as rough or trim carpenters in the construction industry. If this is the case, then you may find yourself making less than many other specialized trades. In general, the more specialized your trade is, the higher you’re likely to earn. So what does this mean for the earning capacity of carpenters?
Making an Income As A Carpenter
When you choose to work as a carpenter, there are many specializations that you can choose from. You can think about becoming a rough carpenter, that is, someone who works in the construction industry. You can also choose to work as a green carpenter or as a scenic carpenter. Many carpenters also choose to work on making wooden furniture, while a select few go on to work in ships as well. If you are planning in taking up carpentary as a career and want to learn more about insurance for carpenters, click here.
If you want to make a higher salary as a carpenter, then you’ll need to consider a lot of factors. These go beyond just which field you choose to work in. Take for example how it’s possible for you to earn a high salary working in the construction industry, as a master carpenter. So what then do you need to know about the salaries of carpenters?
There are various factors that will play a role in how much you earn as a carpenter. These include:
- Your Specialization
The area you choose to work in will play an important role when it comes to determining how much you’ll likely earn. Take for example rough carpentry. Since many carpenters go on to work in this profession, and there is ample supply of workers, you’ll on average, earn less. Now if you were to work in a specific field, such as working as a cabinet maker, then how much you’ll earn will likely increase. This is as you need to use specialized knowledge to build cabinets.
Now say you choose to work in shipbuilding, which is a field that not many carpenters pursue. As this is more specialized, you’ll likely end up earning more per job. But there are other factors to consider as well.
- Frequency of Finding Work
Alongside how much you earn per job, how much work you get on a regular basis will also play a role in determining your salary. Say you choose to work.in shipbuilding. However, you don’t find as many related jobs. Those that you do get can end up paying you more on average, but if you don’t find work frequently, then this can affect your income.
If you work in the construction industry on the other hand, then you’ll earn more money on average. This is as you’ll end up finding more work on a regular basis. The construction industry needs to hire carpenters on a regular basis, so you’ll end up finding consistent work. This also means that you’ll end up making more money overall, even if individual projects pay less.
- Supply and Demand
The availability of carpenters in your area will also affect your salary. Take for example if you choose to make cabinets in an area where there are no cabinet makers. This would mean that you’re the only cabinet maker that the people in your area go to. This allows you to make more money, provided there is a demand for cabinet makers in your area.
Now say there are other cabinet makers that you need to compete with. This means that you’ll need to set competitive prices, and that you’ll also need to work on marketing yourself. Since the work from clients gets divided, if there are more cabinet makers than there is supply, you’ll end up earning less.
- The City You Choose to Work In
The city you choose to work in as a carpenter will also factor into how much you earn. This is as carpenters tend to earn more on average in certain cities, than in others. If you work as a carpenter in Urban Honolulu in Hawaii, then you can end up making as much as $82,950 per year.
Other cities where carpenters earn more are Vallejo in California as well as Hanford in California. Atlantic City in New Jersey and Salinas in California are other cities where carpenters tend to earn more on average.
How much you earn as a carpenter will determine on various factors. Use this guide to learn more about what kind of carpenter earns the most.
If you’re a carpenter, then you should also consider insurance for carpenters. This is as working as a carpenter makes you vulnerable to certain career risks. If you have insurance for carpenters, then you’ll be able to protect your career.