Do skilled trade jobs pay a fair wage?

I'm really curious about the compensation of skilled trade jobs compared to traditional college-degree jobs. Do they generally pay a fair wage? I'm considering a career in something like plumbing or electrical work after high school.

Absolutely, skilled trade jobs can certainly provide a solid income. The compensation for trades jobs like electricians, plumbers, or HVAC technicians can be quite competitive, often due to higher demand and lower supply of workers in those fields.

To give you a couple of examples, according to the U.S. Bureau of Labor Statistics, as of May 2020, the median annual wage for an electrician was about $61,590, while a plumber's median annual wage was approximately $61,550. These salaries can vary, though, depending on factors like location, experience, and the specialty within the trade.

Entry-level positions in these fields may start with a lower wage, but as workers gain experience and further their education (often with on-the-job training and apprenticeships), their earning potential increases. Not to mention, these professions often offer the potential for self-employment, which could lead to higher earnings over time.

It's also worth considering the cost of higher education when comparing these paths. Electricians, plumbers, and other skilled trades workers generally start earning sooner with less student loan debt compared to their peers who choose a traditional college-degree path.

Ultimately, what counts as a "fair wage" can vary depending on one's personal financial goals and lifestyle preferences, but trades professions can certainly provide a comfortable living.