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Michael, Employment Services
Category: Job
Satisfied Customers: 3232
Experience:  Employment Services Professional
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I live and work near a pretty expensive

Customer Question

For Michael only:
I live and work near a pretty expensive major metro area. The field I'm working is a technical field with some computer science and engineering, programming experience is neither required nor focused. I'm relatively new in the industry, in the "entry level" experience range, but with a wide variety of skills/background. This background is highly attractive to an organization that needs a variety of different skills to complete a variety of tasks. While I'm working a full-time stable job, I'm also being aggressively recruited by this organization. It should be a full-time job, but right now the full-time option is on hold, we're discussing having me do some contract work in the meantime.
The pay range for the full-time version of this job is 55k to 65k, which is in the average to pretty good rang for my area, field, and experience.
I'd like to know the following:
1. How much I should charge hourly for this kind of contract/consulting work?
2. I'm planning to work 8-12 hours a week on my own time and will be doing essentially the same work as the full-time version will do. Will this make any difference on hourly rate?
3. Not only your suggested hourly rate range, but also the reasons to what contributes to your calculation.
4. Should I charge a different rate based on the possible full-time employment in the near future, compared to just a contracted consulting work? I don't want to undervalue myself and thus impact my ability to negotiate for salary later, but nor do I want them to think of me as being particularly greedy.
5. Anything else I should consider.
Submitted: 2 years ago.
Category: Job
Expert:  Michael replied 2 years ago.
Good afternoon and hope all is well with you.
Glad to hear that you have received a possible opportunity to work as a consultant doing contract work with what I hope becomes a full-time job.
As for how much to charge, went ahead and researched what the major consulting publications are reporting and why they came up with their reasoning. While each metropolitan area in the US will have various salary listings, thought that the below report can help you work on what is reasonable to charge as an entry level range:
1. Entrepreneur magazine goes into detail on what to charge and the various things to consider such as project rates, retainer fees as well as a possible bonus. I would also use the information provided in the link "To figure out an appropriate hourly rate, you can either use a source like the Careers in Business website to see what consultants earn in your area, or decide how much you'd like to earn in a year and do the math to turn that figure into an hourly rate."
2. As for your question about working longer than a normal 9-5 day, adding on extra fees to your hourly rate would make sense.
Once you get settled in and then offered full-time work, then you can sit down and negotiate salary. Once you decide on what to charge hourly for the contract work, you can then negotiate for what you feel is correct for working for the firm full-time.