Many people become cattle ranchers because they grew up in a family of ranchers and may have even inherited a ranch. Others become ranchers after making a high salary in another field. These people have enough money saved to help offset the high initial price of setting up a cattle ranching business. People who become cattle ranchers and rely solely on their new ranching income to offset start-up costs tend to have a tougher beginning, since it takes time to earn a profit. The salary of cattle ranchers can vary widely according to factors such as the size of the business and how many cattle they have.
The income of a cattle rancher depends on whether or not he owns his land. Ranchers who own their land have an average yearly income of about $70,000 to $80,000, although the range can be from around $30,000 to over $100,000. Typically, a rancher who owns his land will see the higher salary further on in his career. Beginning ranchers need to spend on cattle, equipment and marketing. However, many do not own the land they work on but are hired as managers. They may have median salaries of around $50,000, although the earnings can rise if the manager is successful and is hired to manage larger ranches.
Factors That Affect Salaries
Weather, health of the herd and geographic location can affect salaries. In addition, cattle ranchers can receive money from the government in the form of subsidies that lessen costs and risks. Most cattle ranchers work full time.
Earnings by State
The average salary of cattle ranchers, along with farmworkers and other ranch hands, varies according to the state in which they work. The highest paid workers are in Maine, Massachusetts, Pennsylvania, Maryland, South Carolina, Wyoming, Utah and Nevada. The lowest-paid workers live in Kansas, Oklahoma, North Dakota, Kentucky, West Virginia, Vermont and Tennessee.
Employment of cattle ranchers is expected to decline just slightly by around 8 percent. Because machinery is expected to become more expensive, cattle ranchers who own their land may need to be well capitalized to stay in business. However, government subsidies and loans will continue to help new ranchers. For example, the USDA Farm Service Agency Direct Operating Loan helps ranchers and farmers obtain money for equipment and supplies. Ranchers who are hired as managers will continue to have opportunities in the future, although they will likely need a college education and real-world experience to compete with other job applicants. Managers who have taken classes in marketing and finance, along with animal and wildlife courses, will likely be most in demand.
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