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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Computer Consultant 230K, 11 years out of school[/quote]

How do you work up to this position/pay?  Start out working at Booz and break off on  your own or...?[/quote]

take multiple contracts and work 60 -70 hours a week.[/quote]

This makes sense now.  So, am I correct to assume you have no benefits?  you don't get paid vacation/401k match/health? I can believe that 230K number then (with 65 hrs/wk).  scaling it to a 40 hr week, that would be 141K...plus if you are 1099 person, you have to pay the self employment tax.  Comparable to earning about 110 for a big company with a 40 hour week.

[/quote]

pp, that is very naive to assume. senior level IT consulting can easily get $120/hr. go figure. [/quote]

But PP was stating $230k income with 70 hr wks. Simply ran the numbers given.

And if you are charging $120/he that's great but u have business development and other overhead that comes out of that as well. It's a good life if you want to hustle and can handle the risk; lots of upside. [/quote]

PP here...I divided as pp said.  My point was 230K, for 52 weeks a year is not as much as it sounds, with a 1099....hourly rate was about $68 based on calculations.  I have done some 1099 consulting....my rate was $150/hr....but there is no benefits, and a self employment tax....I worked for 100 or so hours, but it took me about 40 hours to get the work, so I earned 15000 for for 140 hours of work, or 107/hr...Include the self employment tax, and it is down to $100/hr....At my full time job, I earn 165K+benefits & bonus, which bump my compensation unto 190K...and I am expect to work 1816 hours, which means my effective hourly rate is about $105, which is more than I made as a consultant!  And with this, when I had my heart issue and missed 4 weeks of work, it was covered....[/quote]

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