Can You Get Rich From Being An Electrician?

Can You Get Rich From Being An Electrician?

Most people enter into a job because they are passionate about what they do. However, it’s also important to make sure that your chosen career puts food on the table. While some people are happy to make a comfortable living that helps them get by, others want to set themselves up for life and earn as much as possible. You might consider that being an electrician is a good way to earn a decent income but can you get rich from being an electrician?

The average UK salary for an electrician is currently a little over £32,000 although this will vary depending on where in the country you are based. London electricians are raking in the most, on average, with a salary that exceeds £37,000.

However, this may seem a little low and what you have to keep in mind is that these figures aren’t always accurate. There are reports all over the internet telling us that electricians are earning into triple figures, but is there any truth in this? The answer may surprise you; most electricians are earning between £60,000 and £70,000 a year with many far exceeding this. Those national averages might not be giving us a clear picture. Moreover, you have to keep in mind that what you might earn being employed by a company could be vastly less than what you would earn as a self-employed sparky. 

Did you know that a self-employed electrician usually charges around £250 per day and that’s just a base rate. But again, there are huge variations, so let’s take a look in a little more detail at what you can expect to earn as an electrician. 

Can An Electrician Become A Millionaire?

How much you earn as an electrician will depend on several factors; where you are based, who you are working for and how many hours you’re willing to put in. There are stories of electrician apprentices making in excess of £30k a year before they’ve even completed their training. But when you look into this a little more, you quickly realise it is because they are working every hour that God sends.

It’s also imperative to keep in mind that as you move through your training, you may notice swift increases in your pay. However, once training is complete, you’ll usually be capped at a certain figure. 

If you set up your own business then, over time, you may successfully make a million but this figure relates to the amount you have charged to clients. It’s important to keep in mind that you will need to take out expenses from this.

Can You Make 100K As An Electrician?

More and more reports are popping up that talk about electricians earning in excess of £100k a year. That’s the dream for a lot of people but is this a true representation of what the average tradesperson is earning? 

It is true that there are plenty of electricians earning well into triple figures but these are few and far between. In order to earn top dollar, you need to have a high level of experience and be very good at what you do; nobody is going to pay all that cash for an inferior service. This means that in order to be employed by a top company willing to pay a handsome salary, you need to be the best. There’s nothing to say that this isn’t possible provided you are willing to put in the hard work. 

What Is An Electrician Salary?

In the United Kingdom, the salary of an electrician is around £32,000 on average. The highest earning electricians are currently based in London and are earning as much as £37,000 per year. However, on the other end of the scale, electricians in the East Midlands are earning the least at just above £29,000 per year. 

Why Do Electricians Earn So Much?

Being an electrician is a skilled job that requires in depth training as it could be potentially dangerous work. But this is not the reason that they are paid such an impressive wage. There is currently a shortage of qualified electricians in the UK and this means that hiring them comes at a greater cost. 

Much of the reason for this shortage is that there are so many new housing developments being built across the country and there aren’t enough electricians to complete all of the work. The problem does seem to be improving with issues at their peak back in 2017. 

Do Electricians Earn More Than Plumbers?

Plumbers are required to follow a similar training route to electricians and are also considered to be a tradesperson. However, there is a slight difference in how much they earn and out of all of the trades, electricians are still considered to be one of the highest earners. 

The good news is that if plumbing takes your fancy, there isn’t a whole lot of difference with the national average wage being just shy of £30,000 a year. In the scheme of things, it’s not something that you would really notice. 

It’s also worth considering that, according to statistics, electrical apprentices earn £2 more an hour than their plumbing counterparts. 

Recent Article: Do Electricians Charge By The Hour

Conclusion

If you want to do a hands-on job that makes you use your skills then becoming an electrician could be the right way to go. Of course, you first need to make sure that the job will pay the bills and the good news is that electricians are among some of the highest earners in trade. 

While the national average salary for an electrician is currently a little over £32,000, there are people who are earning significantly more than this. It is possible for the most experienced and hardworking electricians to bring home triple figures but it’s important to keep in mind that this is based on several factors.