There are really two ways of approaching and answering this question. The first answer is to give you the general salary of a locksmith that is employed by a company and the second answer is to talk a little bit about how much a self employed locksmith would make through their own business. Since the numbers can be quite different for these two groups, let’s first start off by taking a look at the average locksmith salary that is employed.
Locksmith Salary – How Much Does a Locksmith Make as an Employee?
Currently, the salary range for an employed locksmith is between $33,383 – $54,688. You salary will differ a lot according to the number of years you have been working and also according to the location that you are in. You can typically expect to make more money in larger cities (but keep in mind that there is often more competition for jobs and work here) and for having more years of service under your belt.
The lowest 10% of salaries was $33,383, the median (or average) salary was $44,188 and the top 90% of employed locksmiths made about $54,688.
Locksmith Salary – How Much Does a Locksmith Make Owning Their Own Business?
The question is tricky to answer. After a locksmith has been working for another veteran locksmith for awhile or has been an apprentice for awhile, they may choose to start their own business. When first starting out, you can expect to make a salary more inline with what an employed locksmith would make. However, after you build your business the sky really can become the limit. It’s important to keep in mind that your location will have a lot to do with your income, especially when first starting out. In bigger cities there is more competition but also more potential to make money by working with a larger group of clients.
If you really wanted to dream about making big money as a locksmith, you can consider eventually starting a company that specializes in setting up alarm systems and locking systems for larger businesses such as casinos and banks. The amount of money you will make with your own business is heavily influenced and determined by your location and how much better you are at being able to market yourself and sell your services over your competition.