I'm being asked about my interest for a position as an IT procurement specialist at Cognizant. They want my resume and hourly rate. Thoughts on how to calculate my rate? I've been a management consultant almost 5 years, on promotion track to manager, currently making 92k. I'm not super interested in this job but would switch if it was better pay. Not fulfilled where I'm at right now.

likefunny
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Don’t do it. That’s pure staff aug contract work.

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I know, not exciting. Unfortunately I'm on a staff Aug project right now at my current job too. 😓 I have goals to eventually get into strategy consulting, but I'm just not seeing many job postings for that right now

Minimum hourly rate = Desired salary * 1.3 (overhead plus taxes) / (40 hours * 47 weeks)

I’ve assumed 3 weeks vacation, and 2 weeks of holidays. The above is the most logical rate calculator that is my default method

Profit is add on, and usually anywhere from 10%-100%

likesmart

92000/2080

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You can use that formula above and add some percentage onto it to represent what you may pay for health insurance, 401k (+ match), and anything else maybe call it an additional 30%.

$150 and hour. Done easy.

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Just curious, how did you calculate that?

You’re really underpaid at 5 yoe. Should be aiming for 140-150

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Most consultants don’t have an mba so that’s not an excuse. I think it’s time to jump. Between a no name firm and an Indian staff aug giant, definitely chase and milk that offer for somewhere in the 140s.

If I could get a 5 year staff aug contract at $150 an hour I’d take it.

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Yeah, where are these numbers coming from? I have over a decade of exp and an MBA, and have never been offered more than $90-100/hr.

Nooooo!!! Stay away!

Company

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Never accept a job that wants your hourly rate!!!

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