4 answers
Aiden
Student
Kirtland, New Mexico
2
Questions
Updated
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What is the salary of a carpenter in the state of New Mexico? Is there a range? Does it depend on experience or the job??
I want to know how much a carpenter makes annually in New Mexico.
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4 answers
Ximena Espinoza
carpentry
4
Answers
New York, New York
Updated
Ximena’s Answer
not sure of new mexico but in new york city and the surrounding boroughs, we make $55/hour plus our quarterly vacation fund because we dont get PTO or sick pay. so for every hour we work we get an additional $8 per hour and the total hours worked in 3 months is sent to us. the $8 is once you finish apprenticeship and during an apprentice, we get $3 per hour for our vacation. that same amount goes into an annuity.
example: 40 hours x $8 x 4 weeks x 3 months =$3840 check every 3 months
if you work less, then the check is less. this example is if you have already finished your 4 year apprenticeship and are now a journey level carpenter
now do the math for an apprentice at $3 per hour .
another benefit is we don't pay for medical, dental, optical. we are giving $200 for eyeglasses if you need them. as long we you worked 240 hours, then the health benefits kick in.
then threes the annuity, the same amount of vacation pay we get every three months goes into an annuity. we save that for our retirement age.
now, pension: 860 hours worked equals 1 credit, and you need 5 credits to be vested. what they council does is they total your salary based on the hours worked annual and they give you 1%. example: if you worked 1600 in one year, you have earned one credit and if you are a journey level then multiple $55 per hour x 1600 = $88000 annual salary, plus your vacation pay $15,360 giving you a total of $95360 annual salary. You will receive $953 (approximately) for that one credit. you will need to accrue 5 credits to be vested or if you leave then you lose all of it.
so hypothetically speaking, if you work the consistent 1600 hours, like I did with OT, then multiple $953 x 5 credits = $4765 (approximately) is what you will get as your pension when you reach 66. and don't forget social security pension too.
this is why union jobs are a benefit for those who don't want college and want a financial secure retirement.
hope i answered you question and then some. reach out if you have more questions, happy to help.
example: 40 hours x $8 x 4 weeks x 3 months =$3840 check every 3 months
if you work less, then the check is less. this example is if you have already finished your 4 year apprenticeship and are now a journey level carpenter
now do the math for an apprentice at $3 per hour .
another benefit is we don't pay for medical, dental, optical. we are giving $200 for eyeglasses if you need them. as long we you worked 240 hours, then the health benefits kick in.
then threes the annuity, the same amount of vacation pay we get every three months goes into an annuity. we save that for our retirement age.
now, pension: 860 hours worked equals 1 credit, and you need 5 credits to be vested. what they council does is they total your salary based on the hours worked annual and they give you 1%. example: if you worked 1600 in one year, you have earned one credit and if you are a journey level then multiple $55 per hour x 1600 = $88000 annual salary, plus your vacation pay $15,360 giving you a total of $95360 annual salary. You will receive $953 (approximately) for that one credit. you will need to accrue 5 credits to be vested or if you leave then you lose all of it.
so hypothetically speaking, if you work the consistent 1600 hours, like I did with OT, then multiple $953 x 5 credits = $4765 (approximately) is what you will get as your pension when you reach 66. and don't forget social security pension too.
this is why union jobs are a benefit for those who don't want college and want a financial secure retirement.
hope i answered you question and then some. reach out if you have more questions, happy to help.
Julia Kim
Consulting
8
Answers
Arlington, Virginia
Updated
Julia’s Answer
Hi Aiden,
As of the latest data available in 2023, the salary for a carpenter in the state of New Mexico varies based on several factors including experience, specialization, and the specific locality within the state. However, to give you a general idea:
Average Salary Range
- Average Starting/Entry-Level Salary: Around $30,000 per year
- Median Salary: Approximately $40,000 to $45,000 per year
- Experienced Carpenter: Salaries can exceed $55,000 per year, particularly for those with specialized skills or management responsibilities.
Factors Influencing Salary
- Experience: More experienced carpenters can command higher wages.
- Specialization: Carpenters who specialize in areas like cabinetry, fine woodworking, or green building practices might earn more.
- Industry: Carpenters working in residential building construction typically have different salary scales compared to those in commercial construction or industrial settings.
- Location: Urban areas or regions with a high demand for construction may offer higher wages.
Additional Considerations
- Benefits: In addition to their salary, carpenters might receive benefits like health insurance, retirement plans, and paid time off depending on their employer.
- Hourly Rates: Many carpenters are paid on an hourly basis, which can vary from around $15 to over $25 per hour based on the factors mentioned above.
For the most current and specific information, checking local job listings, union information, or career sites could provide more precise data tailored to particular niches or regions within New Mexico.
As of the latest data available in 2023, the salary for a carpenter in the state of New Mexico varies based on several factors including experience, specialization, and the specific locality within the state. However, to give you a general idea:
Average Salary Range
- Average Starting/Entry-Level Salary: Around $30,000 per year
- Median Salary: Approximately $40,000 to $45,000 per year
- Experienced Carpenter: Salaries can exceed $55,000 per year, particularly for those with specialized skills or management responsibilities.
Factors Influencing Salary
- Experience: More experienced carpenters can command higher wages.
- Specialization: Carpenters who specialize in areas like cabinetry, fine woodworking, or green building practices might earn more.
- Industry: Carpenters working in residential building construction typically have different salary scales compared to those in commercial construction or industrial settings.
- Location: Urban areas or regions with a high demand for construction may offer higher wages.
Additional Considerations
- Benefits: In addition to their salary, carpenters might receive benefits like health insurance, retirement plans, and paid time off depending on their employer.
- Hourly Rates: Many carpenters are paid on an hourly basis, which can vary from around $15 to over $25 per hour based on the factors mentioned above.
For the most current and specific information, checking local job listings, union information, or career sites could provide more precise data tailored to particular niches or regions within New Mexico.
Ezra Jackson
Security
81
Answers
Washington, Washington
Updated
Ezra’s Answer
Hello,
The average carpenter in New Mexico makes about $44,000 a year. The lower 20% is closer to $30,000 while the top 20% is closer to $60,000. The job or area you are working on can benefit you with more pay but also the more experience and knowledge you have will help too.
The average carpenter in New Mexico makes about $44,000 a year. The lower 20% is closer to $30,000 while the top 20% is closer to $60,000. The job or area you are working on can benefit you with more pay but also the more experience and knowledge you have will help too.
MuhmammadAdeel Arif
Carpentar
1
Answer
Chishtian Sharif, Punjab
Updated
MuhmammadAdeel’s Answer
Earn $25 every hour.
Thank you, Muhmammad for answering! Can you add a little more detail for Aiden? Is this a starting pay or average?
Sharyn Grose, Admin