#Hourly labor rate it consultion how to

The following steps can be used as a guide:ĭivide your annual salary by 2080 (annual hours worked) to arrive at the raw hourly rate

#Hourly labor rate it consultion how to

Specifically, how to convert their current or desired salary to an hourly rate for a W-2 contract assignment.

I'd love to be in a position to pay what I paid for gas last month, but not what I paid last year.Converting Salary to Hourly Rate for contract employmentĪmong the most frequently asked questions from job seekers converting from salaried to a contract or consulting positions is that of compensation. It also neglects the maxim that markets fluctuate. 'Hey that's what we paid before' presumes the last contracting person or team engaged in appropriate pricing practices. I would also caution against reliance on historical pricing. You may find that the burden rate comes down. Have them explain how each line item in their calculations is allocable and allowable. If you are concerned that the burden rate is too high, have the contractor (or better yet their comptroller or accountant) sit down with you and have them walk you through their labor burden calculations while you have FAR 31 sitting in front of you.

From there start thinking about whether the burden rate is appropriate. Use this data to help you figure whether the base hourly wage is too high/low. In addition to a host of other data, they maintain wage data by labor categories and regions. Try checking the Bureau of Labor Statistics ( ). I would recommend that you shift your seach to what is an appropriate labor rate. For example, one employer may have higher overhead due to offices in a high rent district and high insurance premiums derived from bad workers comp history, while another employer in the same industry may have low overhead due to subsidies recieved from some local economic development group with low insurance premiums. Two different employers may pay the same hour wage to their employees of the same class, but have drastically different labor burdens. You get the labor rate, then you get the labor burden, then you put the two together. Look at FAR 31 and you'll get a glimpse of the variety of indirect cost factors that MAY go into the determination of the burden that gets stacked on top of the direct raw hourly wage paid to the employee. Some do, some don't.Ĭhris: This response may be late, but I hope it will help anyway. Whether the prices in the catalogs are accurate and current depends on the vigilance of the CO in mandating timely revisions. I'm not sure you could ask for the discounted price in a competitive procurement I'm not sure whether you could in a sole-source procurement either, but it seems likelier. If the solicitation/order isn't processed against the MAS the prices don't apply (though a vendor could offer a non-GSA Government agency the same price). The prices in the catalogs are discounted for GSA Multiple Award Schedule purposes. Most entries are links that can be launched.

Vendor names are far left column, contract T&Cs & catalogs are far right columns. (It might be Vehicles/Watercraft, but you might have to surf around.) A list of Schedules will appear, by number - for example (Schedule) 84, which includes marine craft & related equipment and services launch the appropriate Schedule number a list of Special Item Numbers (SINs) will appear, choose and launch the appropriate SIN(s) a list of vendors will appear in a table giving vendor name & contact info, socioeconomic status, etc. Find your commodity/service at the GSA eLibrary: Launch the appropriate link from the description.