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New Job as a Master

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I'm still at my current job as an employee and I just got my Masters.

I've been talking to a construction company about becoming their designated Master Electrician and working for them as an employee. I'd be running the jobs and help quote them, watch over multiple jobs and guys. They gave a ruff idea and threw some numbers around. An hourly rate of $35 + 25% of profit of the electrical. I told him I'd think about things and come back with a response about if I like these number or if I want more, make them pay for insurance and licensing, truck and gas. Has anyone been in this scenario before?
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I'm still at my current job as an employee and I just got my Masters.

I've been talking to a construction company about becoming their designated Master Electrician and working for them as an employee. I'd be running the jobs and help quote them, watch over multiple jobs and guys. They gave a ruff idea and threw some numbers around. An hourly rate of $35 + 25% of profit of the electrical. I told him I'd think about things and come back with a response about if I like these number or if I want more, make them pay for insurance and licensing, truck and gas. Has anyone been in this scenario before?
Congratulations.:)

I would take that offer, you can leave if it does not cut it for you, but it sounds like you can really pick up some good business experience making that move.
 

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Discussion Starter · #4 ·
Thanks for the Congrats. Well the hourly rate is higher then what I'm making now so you do have a point, if it's not working out then remove Masters from company and leave.
 

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Like drspec pointed out, you really need to define how profits are calculated. May I suggest you try to get corporate overhead removed from the calculation for your percentage, you have no control of this number and what makes it up. You might have to take a smaller % of profit, but I think you will be money ahead.
 

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I'm still at my current job as an employee and I just got my Masters.

I've been talking to a construction company about becoming their designated Master Electrician and working for them as an employee. I'd be running the jobs and help quote them, watch over multiple jobs and guys. They gave a ruff idea and threw some numbers around. An hourly rate of $35 + 25% of profit of the electrical. I told him I'd think about things and come back with a response about if I like these number or if I want more, make them pay for insurance and licensing, truck and gas. Has anyone been in this scenario before?
I would just take a 2k a week salary and not try to work out the % of the profit. That is very subjective.
If margins are low, it will suck, if margins are high, they will get tired of writing those checks.
If you are opening a division and supervising it then maybe it would be better to be a sub:thumbsup:
 

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Discussion Starter · #8 ·
That sounds good to. Eventually it'll be multiple jobs with a crew working under me. Quoting, checking on the guys and putting the tool on when I can, Maybe $2000 a week + 15%.
 
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