My carpenter makes $116/hour

[Anonymous]

Anonymous wrote:

Anonymous wrote:For general services. I am a physician and make $124/hour. After 4 years of college, 4 years of medical school, $250K post-graduate educational debt, 5 years of post medical school training working 90 hours a week for $50-$70k/year (latter only at the end), and 10 years of additional clinical experience. I am a W2 employee and cannot deduct expenses.

This country is headed for a very very serious physician shortage.

Blown away by this post. What a sad state of affairs this county is. Upside down world. I thought it was hard to get over "professional sports players" salaries, even salaries of "influencers" but this crap, a carpenter making close to that of a physician boggles the mind. It takes literally a few hours to learn how to lay carpet and day or two to learn how to lay carpet proficiently. Now brick laying is a little more skilled but carpet laying? That's nuts.

Carpenters are not carpet installers?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:For general services. I am a physician and make $124/hour. After 4 years of college, 4 years of medical school, $250K post-graduate educational debt, 5 years of post medical school training working 90 hours a week for $50-$70k/year (latter only at the end), and 10 years of additional clinical experience. I am a W2 employee and cannot deduct expenses.

This country is headed for a very very serious physician shortage.

Blown away by this post. What a sad state of affairs this county is. Upside down world. I thought it was hard to get over "professional sports players" salaries, even salaries of "influencers" but this crap, a carpenter making close to that of a physician boggles the mind. It takes literally a few hours to learn how to lay carpet and day or two to learn how to lay carpet proficiently. Now brick laying is a little more skilled but carpet laying? That's nuts.

But how many days does it take to learn the difference between carpentry and laying carpet?

hahahaha I was just about to type the same thing.

[Anonymous]

Anonymous wrote:The funny thing is, the more the general population opts for higher education, the more the tradespeople will be able to charge. It’s such a tiny percentage of young people who know how to do anything practical anymore.

I was saying the same thing to DH, who is an engineer, but also very handy at home.

A plumber was going to charge a Dr friend of his a fortune to just change some part. DH looked at it, and replaced it with a $35 part, which took like 30min.

I told DH he should be a neighborhood handyman and charge $100/hr when he retires. LOL

[Anonymous]

Anonymous wrote:

Anonymous wrote:For general services. I am a physician and make $124/hour. After 4 years of college, 4 years of medical school, $250K post-graduate educational debt, 5 years of post medical school training working 90 hours a week for $50-$70k/year (latter only at the end), and 10 years of additional clinical experience. I am a W2 employee and cannot deduct expenses.

This country is headed for a very very serious physician shortage.

Blown away by this post. What a sad state of affairs this county is. Upside down world. I thought it was hard to get over "professional sports players" salaries, even salaries of "influencers" but this crap, a carpenter making close to that of a physician boggles the mind. It takes literally a few hours to learn how to lay carpet and day or two to learn how to lay carpet proficiently. Now brick laying is a little more skilled but carpet laying? That's nuts.

Wow. What do you do for a living?

[Anonymous]

We just paid our electrician $140/hour. He has a skill I don't have so I pay it.

[Anonymous]

Anonymous wrote:I sometimes hear that physicians have (in general) a very poor grasp of finance and business because their training is so focused. I have often thought it overblow, but OP is certainly playing to type.

Typical charge-out rate in the trades is around 2 to 2.5x nominal wage. So if he's charging you $116/hr he is probably really making about $50 to 60/hr. On that $116 he is charging you, he has to pay for all his tools, truck, overhead, BOTH sides of SS taxes (remember as a W2 employee you only ever see half of that deducted from your check). He also has to pay worker's compensation insurance, general liability insurance, sometimes has to bond for projects, and have commercial auto insurance.

He also is not having anyone kick in 50-80% on his health insurance, it is 100% his baby.

For him to take home $120k/year he probably needs to be charging you more than he is, frankly.

+1 yep. I have been self employed for most of my career, but providing services. My real take home is more like 70% of what I charge per hour because of all the SE taxes, business and health insurance, no holiday pay, 401k match, etc.. that I have to pay for myself.

Benefits are usually about 30% of the base salary.

[Anonymous]

OP, is your carpenter good? I’m looking for one! Skilled craftsmen who deliver and are reliable are worth every penny. There was a New Yorker article a few years ago about a Master Carpenter in NYC who knows how to bend wood and craft one of kind pieces for billionaire’s homes in the city. He gets paid because his skills are incredibly difficult to master. Like 30 years to master. It’s really no different than any truly skilled artist.

[Anonymous]

Anonymous wrote:A carpenter may not work 40 hrs a week guaranteed. And they have to pay for all the benefits out of that pay.

And usually part of a union so dues to that.

And they do some very physically taxing work.

Plumbers are another trade I admire- tight dark spaces, dirty disgusting water, and physically gruelling.

[Anonymous]

Anonymous wrote:

Anonymous wrote:A carpenter may not work 40 hrs a week guaranteed. And they have to pay for all the benefits out of that pay.

And usually part of a union so dues to that.

And they do some very physically taxing work.

Plumbers are another trade I admire- tight dark spaces, dirty disgusting water, and physically gruelling.

Uh no. A self employed carpenter is almost certainly not un a union. Most carpenters are not in unions, especially those doing residential construction and remodeling.

[Anonymous]

Physicians are so odd to me - book smart for sure, but often lack the equally important stuff such as bedside manner, looking at the big picture (my foot pain was actually caused by hips but you never thought of that), and lack of simple business 101.

[Anonymous]

Anonymous wrote:For general services. I am a physician and make $124/hour. After 4 years of college, 4 years of medical school, $250K post-graduate educational debt, 5 years of post medical school training working 90 hours a week for $50-$70k/year (latter only at the end), and 10 years of additional clinical experience. I am a W2 employee and cannot deduct expenses.

This country is headed for a very very serious physician shortage.

Your country will do what it does best. It will scoop up physicians from other countries and bring them here.

[Anonymous]

Anonymous wrote:Carpentry is a hard to find skill. I'm not talking about a general contractor who can assemble Ikea kitchens. I'm honestly surprised he doesn't charge more.

I wish I had married a carpenter.

On the other hand, there are plenty of physicians and as an alternative NP and PAs for general services. I think we will be fine, as medical schools are still turning away applicants.

You should wish you didn't. It's physically devastating. It's an extremely difficult job that takes a big toll on your body. How do I know? My dad is a carpenter. He had to retire sooner than he wanted to die to the physical toll on his body

[Anonymous]

Anonymous wrote:

Anonymous wrote:The funny thing is, the more the general population opts for higher education, the more the tradespeople will be able to charge. It’s such a tiny percentage of young people who know how to do anything practical anymore.

I was saying the same thing to DH, who is an engineer, but also very handy at home.

A plumber was going to charge a Dr friend of his a fortune to just change some part. DH looked at it, and replaced it with a $35 part, which took like 30min.

I told DH he should be a neighborhood handyman and charge $100/hr when he retires. LOL

Ha, I tell my professor husband this too. He does a lot of DIY. No one around here can find a handyman, it's all big contractors.

[Anonymous]

Why is no one factoring OP’s debt into the equation.

[Anonymous]

Anonymous wrote:Why is no one factoring OP’s debt into the equation.

Why didn't OP factor that in before going for a profession that would cost half a million before you ever earned a dollar?