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How much will be in hand ?
I just hit $200k NW and it’s been 7 months since I made my post (link below) about hitting $100k NW in Dec ‘21.
I’m just mind-blown since it took me 2.5 years to get the first $100k and it’s snowballed from there. I’ve gone from $82.5k TC to $238k TC plus a $20k appreciation on a house I bought at the beginning of the year
Can’t really talk about finances with friends/family so this is the only place I can share milestones like this haha…we’ll see if I can hit $300k by EOY
https://joinfishbowl.com/post_muypy45qoy
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Hi fishes, Can anyone provide me info about GyanSys Inc , I'm in discussion with Gyansys about salary.
Current skill- SAP PLM Consultant
CTC is 14LPA (12.3F +1.8VP)
YOE is 6yrs.
CL-9
Is asking 22L as fixed pay okay? if not, what compensation shall I ask HR to consider ?? Thanks in advance for help🙂
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It depends - does the contract role include benefits (healthcare, PTO, etc)? If not you have to factor that in (easily 30%+ of your annual comp).
Once you have a fully burdened annual rate that makes sense, divide by 2,080 to get the hourly equivalent.
This is a massive “it depends” answer. It really depends on your situation. If you have health and other benefits through a spouse, for example, then you may have lower requirements.
It’s really all about the net positive of doing contracting versus being a FTE somewhere with solid benefits. That number can obviously vary a lot if you’re diabetic, etc.
Personally, I start by adding 35%+ and I really jack up that number if I’m not desperate.
Figure out what they charge clients for someone at your level per hour and go beneath that so they can make some money off you. Depending on how much you want the role, you might want to come in with an offe and provide them 20% margin. They probably want 70% +.
If this is for a non client role, figure out what market rate at that company is, determine the W2 costs they'd have to incur but for 1099 you and add that in, add in an amount equal to what you'd ask for signing bonus, determine realistic severance amount and ask for that, then ask for more. How much more? Depends how much you want the role.
Something else to consider is that your requirement does not mean a obligation to pay, meaning that just like with salary discussions, you can price yourself out of a job with the wrong math or if your needs are more than they are willing to pay.