Many people are thinking about setting up a construction business around this time of year. It’s a thought for some, a reality for others. Remember this, in any line of business, your early salary will be low. Here’s how much I made..
by Andrew Curtin / January 10, 2023
It’s around that time…2023 goal planning.
Business goals, fitness, relationships, or language goals. I want to get a basic understanding of french, just putting it out there.
Anyways…
In about 65 days, many of you will have given up on your goals. I’m sorry, but it’s true. The goals were too hard, and unrealistic.
The fundamental of Construction Wave is to help you be a better construction professional and leader. For our subscribers that are thinking about jumping into entrepreneurship, this post is to help fuel your business goals. So, I want to give industry folk an idea of what your personal finances are going to be like.
First things first. No matter what industry you’re in, your first few year’s salaries are going to be awful.
But you should still go for it if the itch is there.
We launched in May 2022, but the groundwork was done in 2021. I used my marketing background to get copywriting gigs and did some agency work as well.
Below is my annual salary for the last two years
- 2021: ~ £24,000
- 2022: ~ £32,000
This equates to a monthly salary of £1,654 (for 2021) and £2,099 (for 2022)
Here was (and still is!) the bulk of my personal monthly expenses:
You get used to it. You have no choice but to live within your means. The love of the game keeps you going.
But, I won’t lie. Some months were awful – five days living off frozen food was the worst it got for me!
But, in the midst of this, I was still happy. Nobody died, and I was still able to walk my dog every morning, listen to podcasts, and watch BBC iPlayer at night. I was happier than many of my peers, that’s one thing for sure.
Based on conversations I’ve had with other entrepreneurs, those numbers and experiences are typical. Some of them were far worse off than me. Some had families, were much older, and lived in rural areas with limited wifi, whatever.
The story is normal.
John Zimmer and Logan Green did not take a salary for the first three years of building the now $15 billion ride-sharing app, Lyft. Chris Sacca invested in Twitter using credit card debt, not a penny to his name at the time.
My low London salary shouldn’t discourage you. We’re starting to make some progress at Construction Wave, and it’s those shitty days that drive you.
I still think now’s the time to take a risk. Yes, now, at the beginning of a worldwide recession. You can get good discounts when the economy is bad.
You’re not going to be going on holiday every month, you may live on frozen food for a bit, but you’ll love the journey.
Go for it!
Andrew Curtin, Founder of Construction Wave
p.s. This article took quite a while. If you’re in construction, and like reading, please sign-up for our free newsletter.