3 ms·

Does that come with health insurance and a 401k? I'm very risk averse.

• mgadams3 11y ago
  No, you can usually increase your billable rate to make up for that difference. If for example your current salary would be $100k/2080 (work hours in a year) you'd be getting paid $48/hr. You'd likely set your contracting rate at at least $60/hr to make up for the difference or no PTO, insurance, 401k, etc.
  • jdmichal 11y ago
    Also in the US, tack on an additional 7.65% for Social Security and Medicare taxes that would normally be paid by the employer, which is now technically yourself.
    • azth 11y ago
      > Social Security and Medicare taxes Why do they show up as being deducted from your salary in your statements then?
      • mgadams3 11y ago
        Because as a W2 employee you pay half and your employer pays half. As a W9 employee (contractor), you pay both.
• eschutte2 11y ago
  It does come with a 401k, and you buy your own health insurance.
  • kingnothing 11y ago
    Which isn't terribly different than being employed. Your employer probably pays 80% of your health insurance premium and you pay the rest. It's all just part of your comp package that you need to sort out if you decide to start a consulting business.