Figuring Your Real Hourly Rate
The place to start is you. What’s your target salary? And let’s be realistic here. If you have employees, you’ll need to add up all the salaries. On top of that, you’ll need to figure in other associated costs like taxes, FICA, insurance, etc. A safe figure is 25-30%. I lean toward 30%. The math looks like this:
- Salary: $40,000
- Associated costs at 30% of salaries: $12,000
- Total: $52,000
Well, that’s a start. So how many hours are there in a year? Hmmm; let’s see. Eight hours each day. Five days in a work week. Fifty-two weeks in a year that’s … er… Hang on. I’ll save you the trouble of digging out that calculator. It’s 2,080 hours.
via LifeHacker.
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