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July 12, 2006
Should I consult?
As long time readers may recall, I'm leaving work and starting school in a month. My work asked me to do consulting for them, mostly data manipulation in excel and perhaps some specification writing for an hourly rate that is may annual pay / 2050. Basically it is an attempt to recreate my hourly rate now. All work would be irregular, perhaps 5 here, 10 there, and sometimes weeks with nothing. Also, the structure is a bit odd. Because of rules that remain unexplained, but I imagine having to do with the labor laws, they can't actually directly hire me as a consultant. They have to hire me as an intern. This may influence my ability to deduct business expenses, but perhaps not. I need to learn about that too.
Without we should be able to live within our budget, but the money sure would be nice. If it were regular, I think it would be a great deal, a concentration of the better parts of this current job and providing me with the means for a fancier lifestyle. But as it is now, I'm worried that it will be stressful, I'm not sure I'm getting a fair rate, and I'm concerned about the structure.
I'm interested in your thoughts and advice.
Posted by OneEyedMan at July 12, 2006 5:16 PM
Comments
Do you get the feeling its a final offer? Could you suggest hourly pay based on your last full year of income (including bonus)?
Do they read this website?
Posted by: -M-
at July 13, 2006 8:22 AM
I do get the feeling this is a final offer, but it is based on my salary and bonus, not just base salary.
As far as I know that they don't read this sight or even know it exists.
Posted by: TheOneEyedMan
at July 13, 2006 8:27 AM
Tend to think that's roughly fair... although can see a request for it to be closer to expected salary+bonus...
how many hours did they assume in a day? Did they count vacation in their conversion?
I see your point on hours being lower, but can see how its the easiest comp for them on what they should pay you. Would you take a similar offer from an unaffiliated party? If so... (plus, think this is a free option (ignoring reputation risk... which isn't trivial... although can be mitigated). If you say yes now, can always withdraw from agreement ("too much schoolwork," etc). Don't see the upside from saying no (other than emotional freedom )
Posted by: -M-
at July 13, 2006 5:12 PM
Sorry, to clarify.."expected bonus+salary" meaning next years.
Posted by: -M-
at July 14, 2006 8:19 AM
I would go ahead and take it, with the caveat that you can block off a few key weeks each year where you will be unavailing. (the last thing you want is a conflict between your "internship" and finals)
I know that I personally really enjoy my work in tremendously, its just that the endless, relentless grind of it gets old. I have the feeling that you will very much enjoy dipping back into your work for short periods. I think that as long as the work stays fresh and fun, its worth taking even if it is at a _slightly_ lower rate than you might hope for.
Posted by: giblfiz
at July 14, 2006 9:49 AM
I discussed it this with my Dad and he thought that when they get a taste of being able to hire me part time that there will be all the hours I want. We'll see.
I think I can get time off. In fact, I'm more concerned that there won't be regular work than that there will be too much. I'm a bit concerned that when I'm out of sight, and the technical hurdles of telecommuting rise, that there won't be much work coming down the pipe. Then maybe it isn't a free option for me so much as it is for them.
To avoid that I've been brainstorming for a stream of work. I made a pitch for an initial project for 25 hours, but they haven't come back to me about that. Setting up an initial project would go a long way towards getting this thing off the ground.
Giblfiz, have you ever worked full time as a consultant? I know Shepherd has. Because I thought that most people suggest that when you are a full time consultant that you charge 200-300% of the rate to hire you full time. I'm curious what you do. Obviously, that's not open to me, but I guess there is some chance that I can get gigs from other people than my soon to be employer, and I need to have a rate to charge. Until then, I guess they sort of have me by the barrel because they know that this is probably my best shot to get marginal income.
I agree, if my work and pay structure were such that they were paying for me on the margin and it was capped at 10 hours a week, I bet that what would end up in that 10 hours would be significantly more enjoyable than the average work week I have now.
Posted by: TheOneEyedMan
at July 14, 2006 12:27 PM
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