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3x salary is actually a great formula for equivalent compensation. If you make $30/hr salary, you really make $40/hr with vacation/health/employer-paid taxes/u
by joshcrews 16y ago
3x salary is actually a great formula for equivalent compensation.
If you make $30/hr salary, you really make $40/hr with vacation/health/employer-paid taxes/use of office and equipment for free/reimbursed travel+conferences
+you don't get paid for slow times, and non-billable tasks
+you have to compensated for the increased risk you take on (consider the reverse--you would take less average pay to know that it's completely reliable and consistent)
- jdminhbg 16y agoWhile you don't get paid for slow times, you do get paid for busy times. That seems to balance out in my experience.
- ryanwaggoner 16y agoExactly. That's what I meant when I said all it takes is hustle. When you freelance, your have very direct and tangible control over how much you make. You have some control when salary, but the correlation with effort is a lot murkier, in my experience.