Re: translating an hourly contract rate into a salary

Subject: Re: translating an hourly contract rate into a salary
From: Thomas -dot- Burke -at- bbc -dot- co -dot- uk
To: "TECHWR-L" <techwr-l -at- lists -dot- techwr-l -dot- com>
Date: Thu, 16 Sep 2004 08:22:25 -0600

Well, I assume that you want the best salary rate possible (always without
pricing yourself out of the market) and dependant on whether your current
/ most recent hourly rate was 'high', 'average' or 'low' compared to what
you would normally go for and dependant also on the current market. What
location you are in, the cost of living index (or beer tokens as they are
usually known) etc. etc.

So, having, hopefully, covered myself from many rebukes, here goes my
'rule of thumb' when an employer wants me to terminate a contract and go

Hourly Rate = H
Hours per week = W
weeks per year = Y
Therefore HxWxY = MM$ woohoo!
However, I dont normally work every single day of the year, nor, over an
extended period, are my hours consistent (dependent on the workload, etc)

Cost of Living (beer tokens) = (difference between a beer at home and
where I am now) B.

So, Salary = approx 2/3 x MM$ as previously stated, BUT if I am working
away from home, incurring extra living costs - apartment, travel back
home, etc then

Salary = (4/5 x MM$) / B.



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