Cenovus...

[Inzane]

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What's the $140/hr translate into for annual salary?

If that was straight salary, that would be a little under ~ $300k/yr.

If that's a charge out rate, and the employee is making about $100/hr, then that's around ~ $200k/yr.

[ercchry]

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If that was straight salary, that would be a little under ~ $300k/yr.

If that's a charge out rate, and the employee is making about $100/hr, then that's around ~ $200k/yr.

I think buster is smart enough for that math... I think he means the actual translation to cost of a salaried employee after RSUs, bonuses, paid days off, benefits, etc

[Buster]

ya, I dont know what the overhead is and/or what the contractor premium is over employment, etc. Just curious how that all works.

And are these engineers that are "contractors"?

[ercchry]

Not always eng, my personal experience (two family members) are both PMs for IT projects and I’d say both of them are a good deal for the companies vs their employee equivalents.

RSUs are a big one, with enough tenure this can make up damn near half the compensation, bonuses in the ~20% range of base is peanuts in comparison. Benefits are expensive, especially when employer picks up the whole tab. Paid time off can add up when you start getting up to that level. 10 PLDs and 5+ weeks vacation. Then contractor overhead of wcb, full EI, etc, etc starts to add up. Tax benefits of course keep decreasing too.

Way too much variables depending on income level, seniority, and individual companies to really put a number on it. But yeah, employee status is still looked at as the golden ticket that contractors strive for at most of the big boys

[ThePenIsMightier]

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He's talking about charging out at $140/hr. Or at some number close. Can't make money if he is charging you out at similar to what he is paying you.

But the answer is lots of people still.

Nope. They are looking to get $140/hr as a full time "contractor" when I can barely discern that they are any better than others very happy to work for $100/hr.

They are being charged out at high enough for us to make a bit of money if we're paying them $100 and not really make anything if we pay them $140.

EDIT - that's actually pretty similar to what you were saying... Maybe just not precisely.

- - - Updated - - -

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What's the $140/hr translate into for annual salary?

When people talk about "contractors" does that mean engineers?

There are engineers on contract in this category. We could easily pay them about 1,800-2,000 hours worth in a year. So Marth that at $140/hr.

[The_Rural_Juror]

That's a lot of ramen.

[ThePenIsMightier]

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Wow, who's getting $140/hr in this market?

It was people who had been primarily out of work for months! Highly qualified, very well experienced and competent, but were still confident they could get that much dough.
Like I said - good for them. I'm happy they can make that but when I can tell that they're not walking on water compared to these seven other people who are pleased to work full time for accurately aligned with market rates, we don't have much left to say to each other.

*I'm pretty sure one of them was already quite gainfully employed and was maybe just shopping to see if a holy grail paycheque would buy them out of their current job.

EDIT - now in saying all that, there are still folks making that. Don't get hung up "average or blended" rates. There are still people making a shit pile more than $130/hr even though that's the average rate on a project. It helps when you're charging out some slaves in ChineJamIstan $60/hr freeing up space for some heavy hitter to make $200+.
Companies like Fluor bragging that they can get their average rates "down to double digits" on pipeline jobs. There are still people there that charge out at $300+/hr, there.

We've paid well north of $300/hr for some people in certain capacities. It's like Disneyland in that you paid a crippling amount, but holy fuck, it's amazing! And, you don't leave feeling ripped off.
You'd like to keep it to situations where you need to "call Mr. Wolf" from Pulp Fiction. "Time is of the essence".

[Power_Of_Rotary]

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Lol, never change beyond...

If a single person is spending $6700/month in expenses he/ she is definitely doing blow and or living one hell of a lifestyle.

Moral of the story, have 6 months liquidity for YOUR lifestyle. Whatever that number may be.

6K a month in expense does not sound crazy to me. I dont expect someone with 40k left in the bank to actually fully utilize this budget. As mentioned, 40k for 6 months is a sustainable and the average joe will have left over cash after 6 months.

But I do know many people with monthly expenses like this:

Fixed expenses:
2-3k mortgage
600-1000 car payments
Insurance(s)

General:
(1000-2000)Food/gas/utilities/misc

Life expenses:
hooker(s)/blow(s)?

once you add up the other necessities and expenses, you have yourself a monthly expense of 4500-5000 easily. Again, go easy on the hooker and blow. Start looking hookers without teeth and snort the rougher snow.

[ercchry]

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once you add up the other necessities and expenses, you have yourself a monthly expense of 4500-5000 easily. Again, go easy on the hooker and blow. Start looking hookers without teeth and snort the rougher snow.

I heard engineers will do pretty much anything for $140/hr

[The_Rural_Juror]

Not without a cappuccino machine.

[Power_Of_Rotary]

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I heard engineers will do pretty much anything for $140/hr

Brah, are they toothless?

[lasimmon]

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Nope. They are looking to get $140/hr as a full time "contractor" when I can barely discern that they are any better than others very happy to work for $100/hr.

They are being charged out at high enough for us to make a bit of money if we're paying them $100 and not really make anything if we pay them $140.

EDIT - that's actually pretty similar to what you were saying... Maybe just not precisely.

- - - Updated - - -



There are engineers on contract in this category. We could easily pay them about 1,800-2,000 hours worth in a year. So Marth that at $140/hr.

Yah I was trying to say the same as you. Less elegantly though!

[msommers]

The last few pages are depressing as fuck.

[The_Rural_Juror]

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The last few pages are depressing as fuck.

Agreed. $200/hr. What have I done with my life.

[ercchry]

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The last few pages are depressing as fuck.

You’re too young still! But a good pimp is key... can ask for a few names if ya want

[Inzane]

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Agreed. $200/hr. What have I done with my life.

As an Engineer myself I'm looking at that thinking... I'm doing it wrong.

[Disoblige]

How do you get to #7.2 if you make < $100/hr?

Lotta. Fucking. Ramen.

Start today. Indomie. Just eat 'em!

[vengie]

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How do you get to #7.2 if you make < $100/hr?

Lotta. Fucking. Ramen.

Start today. Indomie. Just eat 'em!

You don't get to #7.2 by being an employee.

[killramos]

*sigh* I miss being a contractor

[andyg16]

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As an Engineer myself I'm looking at that thinking... I'm doing it wrong.

Same here, been thinking about it since I read it haha