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How much more (%) should contractor get vs FTE?

464 Expert 256MB
Hi guys, I've been working for a company as a full time employee (FTE) and have recently lost my job (no a big deal its a good market). I've been looking at a couple positions and been contacted by contracting firms/ staffing firms to fill contracts at various companies. I know the general market rate in my area and what I can get as a FTE and what benefits are pretty standard. I know this questions depends on the person and what I'm willing to work for, but what is a reasonable asking increase when talking to people about contract positions? Some contracts are 1 or 2 years another one is a rolling contract with first review in 4-5 months when the companies fiscal year ends. I'm lost in the area of contract work and don't know what is a reasonable for 1.)being out of a job again when the contract ends and 2.)the lack of benefits or benefits that i have to cover myself.

Any thoughts or past experiences people can share?
Jun 22 '11 #1
1 12699
MMcCarthy
14,534 Expert Mod 8TB
There is a general rule of thumb to calculate a contractors daily rate.

Take the Market Annual salary for a position and add 15%. Then divide by 230. There are generally considered to be 230 working days in a year.

So using this example ...
If the annual salary of a job is considered to be 50,000 -

50,000 + 15% = 57,500 / 230 = 250 daily rate

As I said earlier this is a rule of thumb only. Other factors like the demand for your skillset can also influence the rate.
Jun 22 '11 #2

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