[finto65]

What exactly is entailed with prevailing wage? What are the UPs and DOWNs? There are many jobs right now with school improvements etc. but all are prevailing wages. I think I may be missing out on so much because maybe I need a better understanding of what is involved with doing prevailing wages. Can anybody give a little insight on it. Much appreciated.

 

[eews]

prevailing wage requires you to pay employees a wage set by the government, according to the classification of that worker. you usually have to include benefits in the wage as well.
when we did some P/W work in Oyster Bay, NY, our regular $20 per hour guys got $50 per hour. When you bid a job, you need to adjust your quote to take in account the much higher payroll burden.

 

[finto65]

Thanks eews, I just read up on it from the NY state Dept. of Labor and I also went to different forums and read many discussions on it. So I am understanding it a lot more. Basically, you need to pay your guys much more, keep bookkeeping PERFECT and in a nut shell, Bid higher to make a decent profit and prob. never get the job.
I am sure you know how things around here are right now but yet there is so many school jobs/colleges etc which require PW. I think I need to contact my accountant and get his opinion. Thank you for your reply,
Best Luck to you!