General Discussions

**joshua4** · 08-20-2008, 04:53 PM

So if I'm getting paid 70k / year with benefits and want the same job on contract, what would be the equivalent hourly rate?

**chrishirst** · 08-20-2008, 07:38 PM

working 1 hour per year = 70k / hour

working 24 hours a day = (70,000 / 364.25) / 24

anywhere in between is just maths.

(not sure what it has to do with PHP coding though)

**VirtuosiMedia** · 08-20-2008, 08:10 PM

Y / (H * D) = R

Y = yearly rate
H = hours worked per day
D = days worked
R = hourly rate

**angele803** · 08-20-2008, 09:51 PM

You will also need to figure out how much your benefits are worth. How much will insurance cost you without your group plan at work? How much does your employer kick in to your 401k? How much paid vacation do you get? What other benefits are there to my job, and how much are they worth to me or how much will they cost to replace?
Once you figure that out, add it to your base salary, and just divide by your usual hours.