Thinking of being an IC? Read this before accepting a job offer... - My 2 cents Posted: Feb 6th, 2017 - 6:27 am
I just declined an offer with a company as an IC where they wanted to pay 3.5 cpl for editing and 7 cpl for transcription - and said there is very little transcription. Here's how to evaluate what you'd really be paid:
Let’s say an employer expects you to edit 250 lines @3.5 cpl. That is $8.75/hour.
Self-employment matching tax is 6.2% for Social Security, 1.45% for medicare which means you’d pay 54 cents out of the above just for the matching portion of taxes that an employer would pay.
That in itself would mean you’d actually be paid an equivalent of $3.28 cpl.
Let’s say an employer allows 10 PTO days a year and you only did straight editing (just for hypothetical purposes). With the above example:
8.75x8 hours=$70/day or $700/year value of PTO.
If you’re self employed the breakdown of that value means this for a year:
If you were an employee: $18,200 a year income and they pay the matching taxes/time off.
Self-employed: $17,500 income (calculated as 50 weeks@$350/week)
Self-employment matching tax for a year: $1085 for Social Security, $253.75 Medicare=total of $1338.75
$1338.75+$700 value for 10 days PTO=$2038.75
Take the base of $18,200 pre-tax income-$2038.75=$16,161.25
$16,161.25/50 Work weeks = $323.23 a week/$8.08/hour=actual pay rate is 2.8 cpl which is $7.00 an hour - below federal minimum wage.
Plus there’s the value of any health insurance premiums that employers pay which most pay some of that which would bring that equivalent down even more.
Think about this and refuse to accept such low offers!
Post A Reply Reply By Email Options
Complete Discussion Below: ( marks the location of current message within thread)
- Financial Services business and personal loans no collateral require
- FINANCIAL SERVICES BUSINESS CASH LOAN COMPAN GRANTED ME A BUSINESS LOANS
- WE OFFER ALL KIND OF LOANS OFFER GUARANTEE FOR BUSINESS AND PERSONAL LOAN USE
- WHAT IS ALL THIS JUNK
- nVoq
- FINANCIAL SERVICES BUSINESS CASH LOAN COMPAN GRANTED ME A BUSINESS LOANS
- WE OFFER ALL KIND OF LOANS OFFER GUARANTEE FOR BUSINESS AND PERSONAL LOAN
- EMERGENCY LOANS, URGENT BUSINESS AND PERSONAL LOAN FAST AND EASY
- Financial Services business and personal loans no collateral require
- FINANCIAL SERVICES BUSINESS CASH LOAN COMPAN GRANTED ME A BUSINESS LOANS
- Urgent Loan To Clear All Your Financial Debts Contact us
- FINANCIAL SERVICES BUSINESS CASH LOAN COMPAN GRANTED ME A BUSINESS LOANS
- Financial Services business and personal loans no collateral require
- DO YOU NEED A PERSONAL LOAN / BUSINESS LOAN AT 3% INTEREST RATE? APPLY
- Bad Credit Loans, Business Loan, Debt Loan Support
- Business And Personal Loan, Opportunity
- FINANCIAL SERVICES BUSINESS CASH LOAN COMPAN GRANTED ME A BUSINESS LOANS
- Financial Services business and personal loans no collateral require
- FINANCIAL SERVICES BUSINESS CASH LOAN COMPAN GRANTED ME A BUSINESS LOANS
- Do You Need The Opportunity To Secure A Loan
- APPLY FOR URGENT LOAN, BUSINESS AND PERSONAL LOANS OFFER
- DO YOU NEED A URGENT LOAN BUSINESS LOAN TO SOLVE YOUR PROBLEM
- DO YOU NEED URGENT LOAN OFFER IF YES CONTACT US
- FINANCIAL SERVICES BUSINESS CASH LOAN COMPAN GRANTED ME A BUSINESS LOANS
- FINANCIAL SERVICES BUSINESS CASH LOAN COMPAN GRANTED ME A BUSINESS LOANS
- WE OFFER URGENT PAYDAY LOAN TO INDIVIDUAL
- URGENT LOAN OFFER FOR BUSINESS AND PERSONAL USE
- FINANCIAL SERVICES BUSINESS CASH LOAN COMPAN GRANTED ME A BUSINESS LOANS
- Loans and Financial Assistance Offer Apply now
- FINANCIAL SERVICES BUSINESS CASH LOAN COMPAN GRANTED ME A BUSINESS LOANS
- DO YOU NEED URGENT LOAN OFFER IF YES CONTACT US
- URGENT LOAN OFFER FOR BUSINESS AND PERSONAL USE
- Medical Transcription Editor
- FINANCIAL SERVICES BUSINESS CASH LOAN COMPAN GRANTED ME A BUSINESS LOANS
- FINANCIAL SERVICES BUSINESS CASH LOAN COMPAN GRANTED ME A BUSINESS LOANS
- FINANCIAL SERVICES BUSINESS CASH LOAN COMPAN GRANTED ME A BUSINESS LOANS
- Quick Financial Services business and personal loans Online with Direct Lenders
- DO YOU NEED AN URGENT LOAN TO SOLVE YOUR FINANCIAL NEEDS
- WE OFFER BUSINESS LOANS, PERSONAL LOANS, DEBT CONSOLIDATION
- Financial Services business and personal loans no collateral require
- FINANCIAL SERVICES BUSINESS CASH LOAN COMPAN GRANTED ME A BUSINESS LOANS
- FINANCIAL SERVICES BUSINESS CASH LOAN COMPAN GRANTED ME A BUSINESS LOANS
- Financial Services business and personal loans no collateral require
- BUSINESS AND PERSONAL LOAN, QUICK LOAN, EASY LOAN, WITHIN 24 HRS
- WE OFFER ALL KINDS OF LOANS, APPLY FOR A QUICK LOAN
- WE OFFER ALL TYPES OF LOAN (BUSINESS LOAN, PERSONAL LOAN, CONSOLIDATION LOAN
- FINANCIAL SERVICES BUSINESS CASH LOAN COMPAN GRANTED ME A BUSINESS LOANS
- FINANCIAL SERVICES BUSINESS CASH LOAN COMPAN GRANTED ME A BUSINESS LOANS
- Financial Services business and personal loans no collateral require
- FINANCIAL LOAN OFFER APPLY NOW
|