|
|
| *Resource of HR>>>hr consulting |
115k + benefits vs. 90/hr no benefits - help with decision? |
I make 115k a year, plus benefits - including 401k at 7% match and potential bonus (probably 10%). I also get 17 vacation days + holidays. My commute is less than 20 minutes each way. I work 40 - 45 hours a week. I was offered a 3+ year consulting job at 90/hr but I would have to be an S-Corporation. No benefits or anything and the commute would be 1 hour and 45 minutes each way. I would most likely work 45 - 50 hours a week. I'm having a hard time comparing both. Most formulas I found online are simplified and don't take benefits into account. I'm thinking non-401k compensation is around 20k. Add 7k for 401k match. I would have to pay double Soc Security taxes - which I think would add another 10k(??). If I add all that up, my total comp is around 152k. 90/hr with comparable time off is close to 172k minimum. 20k for 3 hours more a day commuting doesn't sound worth it. Are my numbers above off? I know that if I do put in 50 hours per week - I'm approaching 200k. The job now works out to about $138,050/year, if you break down benefits to $15K/yr and $8050 401K match with $115K salary. They deduct taxes for you and pay the employer portion of FICA. The 90/hr works out to $151,200/year, 40 hours/week, 42 weeks/year(allocating 6 - 8 weeks off). Take @ $28K for Fed. W/H Tax and @ $24K for FICA and $15K for benefits. Leaves you with about $85K disposable income. Plus if you must file as an S-corp you must pay corp income taxes. Source(s): Business Owner. If I had to do all over again, I wouldn't. it sounds like your job is sweet right now dude. Money isn't everything. I rather have the less hassle of the first job. Its still very well paid, in my opinion. you know what... depending on what your passion is... that is how I would chose the right job for me money isn't everything and depending on your age and if you have family and the time you will miss with them and he commuting and the extra hours at work.. you know ..unless you are passionate about it... it just might not be worth it to mis that But if you love it .. then do what ever your passion is if you need a secretary... give me a call.... The factors you should apply are age, satisfaction in work, and will either contribute to a better CAREER or will they contribute to a paycheck. You can always buy your benefits which and have full control, but this requires time. The cost in travel time for the job is pretty much even with how much time you would have to enrich your life if you took the other (contracting) job. If you are young and don't mind doing your own finances, take the contracting job, keep up with the market with that extra time, and save your money. your just ******* showing off |
| Tags |
| human resource development human resource training human resources software human resource accounting hr consulting hr jobs hr management hr manager hr recruitment hr resources |
Categories--Copyright/IP Policy--Contact Webmaster For personal non-commercial use only. |