Help in fixing an hourly rate.
I think you are dead on. $40/hour is fine, provided you have some good names on your resume and good references.
In New York City? As a salaried person, I'd expect $80k would be the bare minimum you'd take. Now you have overhead of paying for your own insurance, finding your own work, additional 7.65% of self-employment tax, and you want to go out for a salaried value?
Brad Wilson (dotnetguy.techieswithcats.com)
For a new consultant without a name $40/hour is a decent in the door rate. Without knowing anything about your experience, that is what I would demand. You are looking to build a good client base.
As an EMPLOYEE with benefits in NY and 4 yrs experience in what they want, $80k is the BARE minimum. If you are an actual contractor and you'll be paying your own taxes and there are no benefits, you should double that and target $160k in NY, as a minimum.
You can make $100 an hour walking people's dogs in manhattan. I would charge AT LEAST $70 an hour.
A lot of people make the mistake of starting with a yearly salary and dividing it by the amount of hours worked to establish an hourly rate.
KernelHacker, if you're not familiar with NYC, be sure you have a very clear understanding of what the cost of living is like before you accept the job -- better yet, before you bid. If you intend to live in Manhattan, $80K will buy you a marginally middle-class lifestyle. Your take-home will probably be about $40K (assuming that as a contractor you're paying both ends of FICA, etc.), of which you should probably budget $20-22K for rent and utilities if you plan to have a studio apartment without roommates.
>>You can make $100 an hour walking people's dogs in manhattan. I would charge AT LEAST $70 an hour.<<
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