YMMV.
A lot of that estimate goes toward the permit, the master who inspects the work, overhead, and employer profits if you aren't in business for yourself. Apprentices get paid relatively poorly and don't pull wages when they're in school. I can't speak for commercial or union shops, but in Canada a lot of developers and big residential electrical firms have been dumping apprentices in their third year, to keep costs and competition down (you can't go into business for yourself without your journeyman ticket.)
Electrical is also physically demanding work. Wiring in an unfinished room or in new construction is super easy, but fishing a line through finished walls, attics, and crawlspaces is a totally different discussion. Anecdotally, I also know two commercial electricians who tremendously hate their working conditions, and who are worried about the physical demands as they get older, but they can't afford to quit. (One of them started getting panic attacks and had to switch to a different company.)
Just saying, the grass always looks greener on the other side. Every job has disadvantages and it's often difficult to tell what they are as an outsider.