Education is essential to success in any field. Some businesses require a specific degree or certification. Others use education as a way to advance in their careers.
Construction workers do not need formal training as they are trained on the job. Construction is a large industry, so a person could be more than just a worker or assistant. They can specialize in the construction industry and earn more.
Contractors are in a very lucrative position. This article explains how to become a successful contractor by educating yourself.
What is a contractor?
A contractor, in the broadest sense, is someone who does a job for a client under contract. In the construction industry, the usage of the term differs because of its complexity. Certain parts of the process require different skill sets of various participants.
Contractors and subcontractors are both important in the construction industry. Contractors are also known as prime contractors or general contractors. They are a person or company that is hired directly by a property owner. A contractor may have a team of workers with different skills to cover every aspect of construction.
Subcontractors are sometimes hired by contractors. Subcontractors will enter into a subcontract to complete a specific aspect of a job. These subcontractors are also contractors. They are still contractors, but they don’t work directly for the owner.
The role of a contractor
Contractors are responsible for many different tasks, not just for the construction of new buildings but for renovating properties and infrastructures. Subcontractors are typically plumbers, carpenters, and electricians. Small businesses and self-employed individuals are the majority of contractors.
The Education Requirements for a General Contractor License
A license is required to start as an independent contractor. The license requirements vary by state but typically include the following:
- General contractors must be 18 years old or older.
- You must have at least a High School Diploma.
- To work in the US, they must have legal qualifications.
- You must have a good construction history.
As general contracting is an extremely competitive industry, it’s important that a contractor not only meets but also exceeds these requirements. Around 45% of US general contractors hold a bachelor’s. Around 85% of all general contractors have a degree in business. A general contractor may also major in general studies, construction management, or general studies.
More and more employers are hiring contractors who have degrees in civil engineering or construction science. A bachelor’s can be substituted with an associate degree and years of experience. Schools and universities offer a variety of master’s programs, including site planning, contract administration, project control, and development.
Earning a degree plays a major role in determining the earnings or revenue of a contractor. According to statistics, contractors with bachelor’s degrees earn an average of $59,936 per year, while those with master’s degrees earn $66,328. Purdue University is the most famous college with graduates who have pursued a general contracting career.
Continued Education
Some contractors may need to continue their education. Certain contractors require this in order to be certified. Enrolling in a contractor’s school is essential to ensuring continuing education.
Contractors should continue their education to keep up with industry changes. A general contractor who is current can offer expert advice to clients. Having a general contractor who is up-to-date will allow them to give expert advice to clients.
A general contractor’s marketability can be improved by pursuing continuing education. Clients will trust the company more if they have more professional certifications and licenses. Trust leads to more clients, lasting partnerships, and a successful industry.
Mentorship
Most people are aware that learning does not take place only in a classroom. A mentor can be a great asset when you are just starting out in the construction business. A mentor can be someone who has worked in the construction industry for many years and has diverse experiences to offer a new general contractor.
You can benefit from a mentor who has experience as a general contractor. They can offer advice on how to manage your business, finances, and customers. They also have valuable experience when it comes to overcoming industry challenges.
Experience-Based Learning
The best way to gain knowledge is by experience. If you want to work in the general contracting sector, you should equip yourself with the knowledge you have gained from school. Once you are working there, you can start gaining experience.
