Related Posts
Hi all, I am joining an MBB technology strategy practice from a T3-T4 firm without coming in at a lower level (such as SC—>C, M->SC.). Any general advice/tips from fellow fishes who have done the same?
I am aware of the increase in work hours & effort of work required.
Bain & Company McKinsey & Company Boston Consulting Group BCG Platinion
Sr strategy role in SF? Salary Range?
More Posts
Is there anyone from Roandco on here?
Hi all, I am joining an MBB technology strategy practice from a T3-T4 firm without coming in at a lower level (such as SC—>C, M->SC.). Any general advice/tips from fellow fishes who have done the same?
I am aware of the increase in work hours & effort of work required.
Bain & Company McKinsey & Company Boston Consulting Group BCG Platinion
Additional Posts in FIRE Financial Independence Retire Early
How much do you save / invest each month?
New to Fishbowl?
unlock all discussions on Fishbowl.
Contract work is usually bait and switch. I worked as a contractor early in my career and would never go back to those roles.
Assuming your total comp is $120K, your employer pays another $15,579 and your health insurance, and assuming you get 15 PTO days, the cost component of PTO is $6923. ( $120K a year, 2080 hours a year and 15*8)
Your total comp with these benefits is ~ $145,000
The problem with contract roles is they are subject to the whims and fancies of the manager approving your hours. I worked 60 hour weeks and was always asked to only bill 40 hours or was threatened with non renewal of my contract. Now if you can answer the concerns to your satisfaction then go ahead and take the leap. Another calculation to keep in mind,
$120,000 is $57.69 an hour (before taxes)
$150,00 is $72.12 an hour (before taxes)
You are welcome!