contract position

ITSpectre

Danielm7 wrote: »

As a real life example, 2 of my coworkers are in the same job role/level/title. One came in at <90K a year, FTE, gets decent benefits. The other is a contractor for $85 an hour. They offered him to go full time and he laughed, the benefits aren't worth THAT much, especially to him.

So if my math is correct (and im not that good at math) so lets calculate this....

Employee 1 non contract FTE - 90k a year
Employee 2 Contract makes 85.00 an hr.

Math:
85.00 * 80 = 6,800 a month.
6,800 a month X12 = 81,600 a year.

So the FTE even with benefits taken out makes more then the guy that is on the contract.

So of course the benefits are not worth that much to him... he is making less a year then the FTE

ITSpectre

Correction... the Contractor makes more money. He comes out to make 163,200 a year.

I told you I was terrible at math!

aftereffector

My napkin math for salary is to double the hourly rate and add "thousand" on the end. It's not very accurate but it's quick! So $50 an hour roughly correlates to $100,000 a year, and $75 an hour is roughly $150,000 a year, and so on.

ITSpectre

aftereffector wrote: »

My napkin math for salary is to double the hourly rate and add "thousand" on the end. It's not very accurate but it's quick! So $50 an hour roughly correlates to $100,000 a year, and $75 an hour is roughly $150,000 a year, and so on.

Thanks for that math tip!