A Rancher's Salary
- According to the Bureau of Labor Statistics, the average annual compensation for those in the "Farmers and Ranchers" category was $42,710 in 2010. In terms of an hourly rate, this breaks down to $20.53. Those in the lowest 10th percentile earned $18,900 annually, or about $9.09 hourly. In the 90th percentile, pay was $91,710 per year, or $44.09 per hour.
- As businesses, ranches sometimes need managers to oversee all the other ranch workers and keep operations running smoothly. Managers on ranches receive higher pay than general ranchers. The Bureau of Labor Statistics states that, in 2010, ranch managers earned $65,960 per year on average, or about $31.71 hourly. Those in the lowest 10th percentile earned $29,280 annually, or $14.08 per hour, while those in the 90th percentile made $106,980 per year, or $51.43 hourly.
- Ranching, like general farming, is highly variable in terms of yield. A rancher may lose livestock due to disease, weather, feed contamination and other problems. Additionally, economic factors contribute to the rise and fall of livestock prices. For instance, if the cost of livestock feed or electricity rises, it is harder for a rancher to gain a profit from the livestock he has raised. Other factors which can affect a rancher's profit include state, national and international trade regulations. For instance, trade laws may force ranchers to compete with ranchers from other areas, which can drive prices down.
- As the Bureau of Labor Statistics points out, due to shifts in the global market and the subsequent need to stay competitive, even small ranches are having to pay close attention to their business operations. Whereas on-the-job experience -- often gained from being raised on a ranch -- provides irreplaceable, practical ranch knowledge, ranchers often look for workers who have some business training. At least some college training, preferably a college degree, in agriculture can garner higher salaries.