"Nibbles" (nibbles)
04/21/2015 at 16:56 • Filed to: None
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"Nibbles" (nibbles)
04/21/2015 at 16:56 • Filed to: None | 0
| 8 |
Long story short, I’m being courted to join my company as a full-time employee. Personally I think this is tits for the following reasons:
Awesome health care (health care field yo)
PTO
Vacation time
Salary!
Stock options
PTO
However I’m being asked about salary requirements. I know there is a difference between contract and salaried but to be honest I’m not certain of the gap I’m looking at. Can any of yous guys help me to come up with an idea of how much I stand to “lose” by moving to full time as far as take home goes? What should I tell ‘em - should I just give them my current rate and see if they bite? I currently pay about $700/m in health insurance and am working in the IT realm of health care. In return, please consider this Steep Price for Pie
Lumpy44, Proprietor Of Fine Gif
> Nibbles
04/21/2015 at 17:04 |
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I currently pay about $700/m in health insurance
WAT!?!?!
505Turbeaux
> Nibbles
04/21/2015 at 17:08 |
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I always figure in $8000 hit to the employer to cover your health insurance entirely. PTO is easy to calculate if you know the amount of days they provide. Unemployment insurance they have to pay on you is variable. It can be a big hit for them, but if they value your employment enough to take you on, they will make it worth your while
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Nibbles
> Lumpy44, Proprietor Of Fine Gif
04/21/2015 at 17:08 |
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Nibbles
> 505Turbeaux
04/21/2015 at 17:11 |
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Good info! I’m having a call with my contracting lady today - she’s rather forthcoming - and I’m going to see if I can squeeze out some idea of how much they make off of me. I’m going to factor that in as well
They know what I’m worth here. I get fought over on a regular basis and have no problem using that to my advantage :)
Party-vi
> Nibbles
04/21/2015 at 17:12 |
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As a 1099 employee you’re expected to pay for all of your benefits yourself (health insurance, vacation, vision, dental, disability, social security, medicare, life insurance, etc.), so your rate should be higher to compensate for this. At the same time, you don’t want to take a cut in pay.
Why not remind them of your current rate and ask what they would offer?
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Nibbles
> Party-vi
04/21/2015 at 17:15 |
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I’m not 1099 though; I’m W-2 through an agency
That being said, even through my agency I pay full-pop for Obamacare, get no PTO/Holiday/sick time. All they do is take care of the taxes bit. They’re making cash off me and paying absolutely nothing out. All the 1099 benefits, none of the, erm, benefits
Short-throw Granny Shifter is 2 #blessed 2b stressed
> Nibbles
04/21/2015 at 17:37 |
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This part of the job hunt can be difficult, and companies are not exactly transparent with quantifying their benefit and salary information. I would have appreciated this kind of information when I was negotiating, so I am going to dump some stuff below. Let me know if any of it is helpful. I know it is gauche, and they don’t translate very well across fields, but can give you actual salary and employer contribution numbers if you think it would be helpful.
To start, let them name a number if possible, then negotiate up to where you think it should be. Your employer will make a lions-share of the insurance contributions. Obviously employer contributions + salary should at least equal what you make in year on contract.
My monthly payroll deductions for benefits go as follows: $39.70 for medical (shitty high deductible, HMO will cost probably $100 or more), $17.00 for dental, $9.56 for accident insurance. Also, factor in your 401K contributions, any BOGO stock options, and long term illness insurance. Those will cut into your “take home” amount.
In the end, your paychecks will probably be smaller, but you should end up so that you end up with more after salary, medical benefits, and stock and 401K matching options.
Source: I have worked for a multinationals engineering firm for 2 years now. If you have more XP than me, this is probably not new to you.
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Nibbles
> Short-throw Granny Shifter is 2 #blessed 2b stressed
04/21/2015 at 17:40 |
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Thanks! I’ve never converted - I’ve either contracted or fulltimed, never in-between like this. This is all great information!