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I work at a big 4 (not tech, consulting/accounting) company as a contractor. They recently offered me a FTE role. $40k less pay for 10-20 hours more a week; mea
by snow_mac 5y ago
I work at a big 4 (not tech, consulting/accounting) company as a contractor. They recently offered me a FTE role. $40k less pay for 10-20 hours more a week; meaning they expect their FTEs to work 50-60 hours a week for 4/5 of what they'd pay contractors to only work 40.
The work is interesting, I love my team and such, but cannot and will not give up 10-20 more hours to what amounts to just another job. There's no incentive to convert, no justification to work 2500 hours a year for some lousy bonus.
Atleast I get to keep my contract, keep billing my rate and only work about 1960 hours this next year.
I'd say until companies get realastic about hours, expectations and salary it's going to be difficult for them to convert people. I mean, your company makes lets say $100,000,000 in profit this year with what a 50% margin; probably higher with software. You can pay the contractor $200-$250 k this year, but only your staff $160k, or $190k once benefits and all that get factored in. Really? You can only pay $160k for perm and $200k for contractor? ?!? You're a team of like 30, making like $100m
...
So if you'd like a Snr Eng here's what I'd do:
1. Work life balance. Make it so I can do my job in 40 or less
2. Don't take advantage of me
3. Don't make false promises
4. Pay me really well
5. Give me generous time off and benefits
6. Let me work when and where I want
7. Don't ask me to believe in the culture, or give a shit about the mission. I'm not here for the mission. I'm here to do my 40, make a lot of money and enjoy my time outside of my job.
- b20000 5y agolove this post, totally agree ... what did you tell them when they made you the FTE offer?
- snow_mac 5y agoWell, I knew there was a reorg, asked for the conversion and they made the offer. After talking to a fair number of people, I realized that they want 20-50% more time in trade for less money but they say you can only get fired twice a year.... Welp, I told them that the hours were insane and with my clinical depression; I'm going to hate my life if I work that much. So they were pretty understanding after that.
- b20000 5y agoGot it. So it seems they really could not afford to let you go as a contractor, even if you had said "not interested in becoming a FTE" ?
- ddelt 5y agoI wish this was the top comment. 1000%
- Mauricebranagh 5y agoAn employee at 160k costs a lot more than 190k - you can multiply by 2-3 to get the actual cost. BTW at bleeding edge R&D labs the OH rate can be 500 -600%
- snow_mac 5y agoWhere on earth do you get the 2x-3x? Industry average mark up for recruiting companies is 30% to cover employee costs with w2 contractors.
- Mauricebranagh 5y agoWho ? you mean the ghastly rip off body shops? I think you may have misunderstood what we are talking about real self-employed contractors vs FTE's The 2-3x salary is the actual cost to an employer of a FTE (full time employee).