What Does a Contractor Make

Are you considering becoming a contractor? Or are you curious about what a contractor makes? In either case, you`ve come to the right place. In this article, we`ll discuss what a contractor is and what their salary might look like.

First of all, what is a contractor? A contractor is someone who is hired to do a specific job or project. They are not an employee of the company, but rather an independent worker who operates their own business. Contractors can work in a variety of fields, from construction to graphic design to software development.

Now, let`s talk about money. The salary of a contractor can vary widely depending on a few factors. One of the primary factors is the industry in which they work. For example, a construction contractor might make a different salary than a software developer.

Another factor that can impact a contractor`s salary is their experience level. A more experienced contractor who has a proven track record of successful projects may be able to command a higher salary than someone who is just starting out.

In general, contractors are paid hourly or on a project basis. According to PayScale, the average hourly rate for a contractor in the United States is $28.70. However, this can range from around $15 per hour to over $75 per hour depending on the factors we mentioned earlier.

It`s important to note that as a contractor, you are responsible for your own taxes, health insurance, and other benefits that an employee might receive. This means that you may need to factor in these costs when determining your salary.

In addition to hourly rates and project fees, some contractors may also receive bonuses or commissions for completing projects on time and within budget. This can be a great way to increase your earnings as a contractor.

In summary, a contractor is an independent worker who is hired to complete a specific job or project. Their salary can vary widely depending on factors such as industry, experience, and location. As a contractor, you will need to factor in taxes and other benefits when determining your salary. With the right experience and skills, however, the earning potential as a contractor can be quite lucrative.