Life as a farmer is a promising career in some countries like the United States. Farmer salaries are in the top 71% of all careers in the United States. For the farmers, they can earn big salaries if they are very experienced in the world of farming. For the lowest salary is for starting farmers, they earn $16.27 an hour and $33,840 per year. For the highest salary is for top end farmers, they earn $57,47 an hour and $119,530 per year. We should also note that those are the average amount of salary because not all years are good years for farmers to earn lots of money.
There are many factors that influence the crops productions. One most notable factor is the weather change. As we know that the weather change is very extreme lately. Heavy rain may destroy a crop and long dry season may cause the crops thirst to death. Another factor may include pest and wild animals eating the crops.
In order to counter that, smart farmers should have some preparation if they want to make much money every time they harvest. They have to plan the season well, maintain the lands for farming, and master the business in the marketplace. Knowing those things will surely make the farming process goes well.
Regarding the amount of money the farmers earn, it depends on what kinds of crops they are planting. Different types of crops will give them various prices. In the world of farming, the price can be calculated based on the acres. Here we are going to take one example and learn how much a farmer makes per acres of corns.
Before knowing how much the average salary a corn farmer earns, we should know first the input costs. In order to grow corn crops, farmers must buy things like seeds, equipment, chemicals, and fertilizer. Let’s say the input costs average is about $600 per acre for corn. Then, using the data from 2013, farmers made an average $900 per acre on their corn crops. By calculating the input costs and the earning, we can say that the farmer earned $900 – $600 = $300 per acre of corn.
In some regions in the United States, some of the lands are rented. It is also possible that farmers rented the lands for their farming life. The cash rent itself is varies depending on the soil type and the productivity of the land. Farmers may pay $60 or even $400 per acre to farm. Since we are taking the averages, let’s say the average cash rent is $250 per acre. Then, let’s try to calculate it with how much a farmer earns based on the data above. The result will go like this: Farmer earns $300 – $250 (cash rent) = $50 per acre of corn.
Corn Farmer Bank
So, after we have the formula above, now let’s try to calculate with more acres.
If farmers farm 1,500 acres, they will earn $75,000. If farmers farm 1,000 acres, they will earn $50,000. If farmers farm 500 acres, they will earn $25,000.
Those are such a wonderful value for a salary. A corn farmer may become richer if the prices in marketplaces increased. And still, it is actually the average salary. In addition, it is because the normal condition of weather and no challenges happened during the farming process. SO, we can say that of the weather supports well, the farming and the earnings will be even greater than that. On the other hands, the farmer may get great loss in farming.
In the world of farming, there is sometimes times when the harvest does not go well and turns out to be very disappointing. They call it as a bad year. The weather is the main cause the farm becomes unstable. Let’s presume that the input costs are increased due to unstable farming. Then we can have this data as the basic calculation.
Total input costs = $575 per acre
Total land costs = $250n per acre
Total expected income = $800 per acre
Net expected income = -$25 per acre
If farmers farm 1,500 acres, they will lose $37,500. If farmers farm 1,000 acres, they will lose $25,000. If farmers farm 500 acres, they will lose $12,500.
So, how much does a farmer make per acres? Well, it depends on many factors. Farmers are hard workers that avoid fluorescent lights and opt for sunlight. They may enjoy their outdoor work and because they work for themselves, they will not feel any great regret related to other people unlike employee in a company. In good years, they can get tons of money and in bad years, they can lose big money too.
So, it is always good for farmers to have good budgeting and saving skills. In addition, a love and faith to their chosen career are also important.