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Hi Fishes,
How much can I ask from BNY Mellon for the role of Lead Full-Stack Engineer.
My Tech stack: Java, Spring Boot, Microservices, React, Node and AWS
YOE: 7.5 years
CCTC: 23.71L all fixed. Have received MVP bonus of 1.6L EY Tata Consultancy Deloitte Accenture PwC ZS Associates PwC
Please do comment and put your thoughts.
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The calculation I've found most accurate / fair / helpful is:
Full time salary + 30% then divided by 220.
The 30% is to cover taxes, insurance, equipment, retirement, etc. The 220 is the number of days you can reasonably expect to work.
So working backwards, a day rate of 1100 would equate to around 186,000 per year full time.
You can also just ask them what the salary band is for the full time role. They may try to be vague or hide it but it's worth a shot.
Easier and more realistic formula:
Fulltime annual ÷ 125 = Freelance day rate.
(Or, Freelance day rate × 125 = Fulltime annual.)
So if you get $1100 as a freelancer, ask for around $137K fulltime.
For reference the day rate is about 1100