Anyone convert from a IC to a fulltime employee?
![[Post New]](/jforum/templates/default/images/icon_minipost_new.gif){kind=icon}
Anonymous
|
Let's say your rate is $90 an hour. What yearly salary would you be comfortable with, giving loosing the tax benefits?
|
Anonymous
| what exactly is your specialty, paper pushing? Are you IT, manager etc... |
Anonymous
in the trenches, Java developer... |
Anonymous
| How many years of experience do you have? |
Anonymous
I've been in IT for over 25 years, with nearly all of that as an IC. |
Anonymous
If you're making 187k as an IC working FT, you are better off staying as an IC. Java developers in this area top out around 118k unless you are in management. |
Anonymous
Not quite that much, but 169K,as it is not time and materials. |
Anonymous
My favorite calculaor is gone. Here is a pretty accurate one - http://www.rakkar.org/ContractPayCalculator.html. Here is a good discussion on converting : http://money.stackexchange.com/questions/13884/how-to-determine-contractor-hourly-rate-and-employee-salary-equivalents |
Anonymous
Not sure where you get that now. We pay 60 to 80K for Java Developers with 5 years experience. Use H1Bs from Tata, Conginizant, Infosys, Brillio, Hexaware. |
Anonymous
|
In general IC pays better than FT. FT gives you benefits, and other advantages. For me, as an IC, I can theoretically make 130/hr; but I remain a FT employee at $80/hr + another $20/hr in benefits. You see, at 130/hr, I would have to do my marketing on my own time. That is real expenses. Sure it is tax deductible, but, that alone would drop me to 110/hr.
Then, add in the self employment tax, cost of health, disability, retirement match,vacation time etc, and there is no saving. |
Anonymous
My company frequently hires Java developers and they are paid between 60-115k depending on expeirence. We don't hire H1Bs. |
Anonymous
I wish there were more companies like yours. Your company is probably more productive than mine. I wish you well. |
Anonymous
|
I've done exactly this in IT.
I think the general rule is that benefits are about $30k, but it depends on how much they pay for healthcare, or how good their health care coverage is; how much they contribute to a 401k match, and how many vacation/sick days you get. Subtract all that from what you would get annually, working fulltime; don't include vacation days. |