Got a call for a contractor role with a fortune 100 and thinking of going independent. What would be the minimum hourly rate for a big 4 strategy consultant with 8 yoe.

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$100

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Minimum? $200 per hour. I would aim to sell my services for $250-300 per hour though.

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Independent contractor or through an agency?

What's your current hourly rate? Multiply it by at least 1.4

$150

Work it backwards.

Assuming you'd be a 1099 contractor with no benefits, take your goal income and divide that by 1840 (instead of 2080, to account for 4 weeks of vacation and 10 holidays; make that ~1600 if you have to engage in BD) to give yourself a rough net hourly rate. Then take that figure and multiply it by 2.5-3x to account for taxes and benefits and come up with your net hourly rate.

With a goal income of, say, $200k, that gives you a gross hourly target of $109 and a net hourly target of $273-327.

Adjust the 2.5-3x target as needed depending on the benefits situation.

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