Warning. The amount you receive from closing your 401k is likely not the amount you should be rolling over. When you take a distribution from your 401k plan, the plan has to withhold 20 percent of the distribution for taxes. For example, if you take out $60,000, you're only going to get a check for $48,000.
Arkansas State University offers a four-year electrical apprenticeship program for $260 per year, which covers 2,000 hours of job training. Electrical apprenticeships may last longer than other programs, but students have the ability to earn an income while they work. Licensing for electricians costs $15-$150 per year, with an exam fee of $30-$75.
The average lowest wage you can expect to earn as a first year apprentice is around $9.95 an hour â the highest is over $19.00. As of May 2015, the average apprentice electrician salary in 2014 is $34,841. If a first year apprentice works 40 hours per week, 50 weeks a year, they can earn a minimum of $20,000 a year. This salary is based on the lowest paying state for electrician apprentices. Starting hourly wages are calculated at 40% of a journeyman electricianâs rate â which is typical regardless of location.