Project Contractor Salary In Oakland
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Oakland, CA: Average Salary The average salary in Oakland, CA is $62,410 per year or $30 per hour. Entry level positions start at $40,303 per year while most experienced workers make up to $130,657 per year.
Average Salary in Oakland, CA. $54,618 is the 25th percentile. Salaries below this are outliers. $93,753 is the 75th percentile.
In 2022, Oakland, CA had a population of 438k people with a median age of 37.5 and a median household income of $94,389. Between 2021 and 2022 the population of Oakland, CA grew from 437,548 to 437,825, a 0.0633% increase and its median household income grew from $85,628 to $94,389, a 10.2% increase.
The middle class is commonly defined as households earning between two-thirds and double the median income, which is $128,151 in the San Francisco-Oakland-Berkeley, California metro area, the Census Bureau reports. That means middle class households there earn between $85,434 and $256,302 a year.
Basically, you start with your actual or desired salary as a permanent employee, add the costs of running your business, and now divide it with a realistic number of billable hours per year (e.g. 1350 if you expect to have a regular 40-hour week and be able to bill 3 out of 4 hours). Here you go: your hourly rate.
Generally speaking, general contractors make between 6% to 12% profit. This means if a construction manager completes a $1M project, they can expect to make between $60,000 and $120,000 in profit. Residential subcontractors, on the other hand, usually make between 20% to 30% profit.
As a general rule of thumb your contractor rate should be at least 50% more than you'd get for the same work as an employee.
Final payments from the owner to the prime contractor become due within 45 days after the completion of the entire project. Upon receipt of payment from the owner, the prime contractor needs to make payment to their subs and suppliers within 10 days. The same deadline applies to all other payments down the chain.
