[AccessD] Rate for first time

Straight out of college I couldn't find a job, so I started consulting for
$15 (I needed the money!).  That was years ago, it's no longer my full time
gig and I now have a great job.  I still like contracting in my off time,
but my personal time is valuable also, so now I never charge less than
$50/hour, usually $75.  I also cap my contracting hours per week at 20.
 
Many factors weighed into how I came up with my hourly rate for contracting,
few of which was what others were charging.  Also, don't let the fact that
this is your first gig affect your rate.

*	Don't forget the tax implications
*	If this is in additional to a full time job, you can either give a
discount because you don't need the $$, or you can charge a premium because
you are essentially working overtime every hour you are working for them
(i.e. your FT job's OT rate after taxes).
*	What are you getting out of this?  Experience?  Exposure? Pleasure?
Future growth and contracting opportunities?
*	What do you want out of this?  Do they match the above?
*	How much cash would be worth it to you - after taxes!

These questions will really help you peg a dollar amount.  If the market
rate is higher, then bump it up higher to match or barely undercut the
market.  If it is lower, does your skill match your above market rate?
 
Just my method of determining my rate.  It may not be right for everyone.
 
Mark
 

[Porter, Mark]  -----Original Message-----
From: Hollis,Virginia [mailto:HollisVJ at pgdp.usec.com]
Sent: Thursday, March 27, 2003 8:16 AM
To: 'accessd at databaseadvisors.com'
Subject: [AccessD] Rate for first time



I know this has been asked a zillion times....
 
What is a fair hourly rate for developers? I have been asked to do my first
outside developing for a company. Since this is my first time, is 10.00 hour
too low?
 
They are wanting it set up as a consultant, is that different than an
independent contractor? I am not sure what the difference would be tax wise?
Any suggestions?
 
Virginia



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