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Hello ZSers,
I have been shortlisted for AC role and my HR discussion is scheduled next week.
1. Need some insights on the maximum and minimum ctc (fixed and variable) that can be offered for 3 yoe (all relevant) . My current ctc is 7.2 (6.5 fixed) . Tech stack - Big data and AWS developer.
2. Is there any joining bonus. If yes , what should be the ask.
Any inputs will be very helpful for me to go with my expectations to the HR. Thanks!
ZS Associates
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If you take into benefits into the equation gap isn't as wide between $25/hr and the freelance $45/hr. Personally I would take full time and establish my self a little before jumping into freelance.
Take the higher paying job, and guarantee they dont fire you by working as hard as you can.
I would choose full time gig since it will probably include benefits and your taxes are taken out automatically. Freelance positions require a lot of discipline in terms of budgeting.
It’s 90k vs 50k. But what will make you more valuable in three years? Because, objectively, anything under 100k is peanuts. You need to be thinking about how to get to $200k, not to 75.
Is this right out of school?
From a purely financial perspective, keep in mind that bonuses are taxed pretty high. I think like 25%
Take the freelance.
Work your ass off. Never say NO to a request, even if it means you'll be working late for the next 3 days, just make sure to ask your supervisor/boss if overtime is approved ($67.5/hr).
Keep working your ass off.
Freelance engagements get extended all the time, so it wouldn't be unheard of for this contract to run for the full year or more. During which time you'll have made over 100k with overtime.
Just remember to save some for the tax man!
It's not right out of school. It's after ~2.75 years in the industry.
The full time is in a low cost of living area, the freelance gig is remote and I'd also be living in the low cost of living.
I could probably last the summer if unemployed.
After taxes and having to pay insurance and dental out of pocket I’m guessing it will earn you an extra $1300-1400 a month. To give you some context I freelanced at $175/hr at my latest gig, so don’t drop everything for a $20/hr raise. If you work hard and do well, you can add $100/hr on those in a few years.
If you are young and want to save the extra $15-16k towards retirement, it’s not a bad idea, but if it’s for blow and hookers - stick to the full time.
Wow interesting perspectives all, thanks. I'm actually leaning toward the full time job now.
Ok last thing, if I don't need their health insurance because I'm on my parent's plan, could I ask that that money be included in my paycheck instead? Or at least some of it?
AD3 it's all for blow and hookers
I love both places. Anyone have experience taking a risk? The freelance role feels like a risk but I think it's worth it.
Can you support yourself if you’re unemployed thru the summer?
Also what city
T
I think freelance is a bad choice with that little experience. It’s difficult, you need to be nimble in ways 3 years of experience can’t show you. More importantly you will miss out on learning as you’ll lack the mentorship of a full time position.
That said, can you negotiate the full time salary? Seems low
Interesting I see kind of mixed responses here
What is the exact market and job type?
Don’t forget you’re going to pay for self-employment with the freelance gig. You need to set aside 12.4% for social security and 2.9% for Medicare taxes, a total of 15.3% (around 30% when you add state and federal). Make sure you take that and cost of health insurance, etc. into account when you do the math on each one. That is why freelance gigs pay more, mostly, or increased demand in some places. And don’t think you’ll get another gig later in the year and pay your taxes out of that. You should pay taxes quarterly if you freelance anyway.
Yes, you can opt out of the health insurance plans they offer as long as they don’t cover the cost 100% and it isn’t part of your employment agreement (most likely isn’t). But you won’t be able to opt in again until open enrollment for next year, so you should probably make sure your parent is okay paying for you under their plan for the rest of the year. And make sure you won’t age out of eligibility before the end of the year.