Re: Contractor Rates

[Richard Lewis <tech44writer -at- yahoo -dot- com>]

Connie:
   
  I am well aware of the formula that you espouse (actually, I have always heard that 2000 hours is used and that it called the "Rule of 2000" ).   
   
  But I really do not get why rules of math do not apply here.  Unless, it is because  the results are so depressing.
   
  Richard Lewis
  
CGiordano -at- EvergreenInvestments -dot- com wrote:
  
Richard, 

you cannot reverse the formula and have anything that even approaches reality.  I've worked as an FTE, a W2 contractor, and a 1099 contractor, and i can assure you, that making $25 an hour does NOT equate to $12,500.  Barry's formula for converting back to equivalent FTE salary is the one every HR department and agency I've every worked with uses, and if you look at your W2 or 1099 at the end of the year, you'll see that.  Granted, taxes, insurance and other deductions can vary greatly, but the 2080 hours rules works well in getting a good ballpark. 


Connie P Giordano, M A
Senior Technical Advisor/Technical Writer
Evergreen Investments
704/383-4405

 				
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