I just had a conversation with someone about prevailing wage being bidding for profit margins, and then I just read it on here.
What kind of profit margins do you aim for? When you bid prevailing wage, do you aim for the same profit margins as normal work, more, less?
How do you guys go about bidding something that’s so touchy? I read if someone is working over 8 hours a day or 40 hours a week you have to pay them time and a half. I knew about the 40 hour a week thing but is working over 8 hours a day still considered overtime if it’s under 40 a week?
Do you guys bid piece work for prevailing wage, or $/per man hour. pros and cons? It seems like theres not very man cons with charging per man hour, but I don’t know they’d go for it… I have no idea how long something like this would take, because I have only done one other large job and it wasn’t comparable to this one. Any suggestions are welcome!