RE: Did I overreact?

["Andrea C. Carrero" <andrea -at- wordtex -dot- com>]

$24 * 2080 hours = $49,920, if it's full-time, permanent or a W-2 contract
and includes benefits, etc.

If it's $24 for a 1099 then you need to remember to deduct the amount of
money you're going to pay in self-employment or corporation taxes (i.e., as
a sole proprietor or LLC/S/C Corp)--which could be an additional 13% PLUS
about 30% in benefits (sick time, holidays, etc.)--PLUS whatever overhead
costs you have for lawyers, accountants, rent, phone, etc.--which could
account for yet another 2.5-7%. 

So, if it's $24 and you have to pay both sides of the taxes, are paying for
your own benefits and have overhead costs, figure on about half of the
hourly rate going toward those expenses (that a FT employee doesn't have to
pay) and that leaves you with $12 an hour or $24,960 if the number of hours
for the contract = 2080.

I'd say that even if you are just coming out of college with a fresh degree
in your hand, you could do much better than $25K, regardless of where you
are in the country. If you're at all experienced (you didn't say) then even
$50K as FTE or W-2 consultant could be insulting, depending on the skills,
knowledge and expertise you're bringing to the table as well as regional
cost of living, etc.

Hope this helps!

~Andrea~
www.wordtex.com 
Business/corporate communication and technical documentation
solutions--where individual performance contributes to team success


<Shelly wrote:> A recruiter called me last week to discuss a tech. writer
position at a
company.  She waxed eloquent about this "billion-dollar" company, its
values etc.  When we got around to discussing the compensation package,
she quoted a figure of 24 dollars an hour.   Needless to say, I was
quite peeved to learn that this "supposed billion dollar company" was
offering me peanuts in exchange for my services.

 


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