Solved

wage type conversion calculator

Posted on 2010-09-03
3
303 Views
Last Modified: 2012-06-21
if you were to convert your w 2 to a 10-99 or something like that, would there be a calculator/formula to figure out what will be the equivalent, for per hour wage compared annual salary.

thanks
0
Comment
Question by:anushahanna
3 Comments
 
LVL 29

Accepted Solution

by:
Rich Weissler earned 375 total points
ID: 33597829
http://answers.google.com/answers/threadview/id/745994.html
"This is a more complex question than you would think since there are lots of variables involved. There are two fairly common rules-of-thumb that I've seen used in considering W-2 vs. 1099 status. 1) Contractors are paid about 30% more than salaried employees. 2) Divide the annual rate of pay for a permanent employee by 1000 to find the hourly billable rate for the contractor. In your case, offer $90/hour for your candidate currently earning $90K."

<additional links in forum post>

This answer goes into lots of crunchy details as well...
http://www.reddit.com/r/reddit.com/comments/7idlx/as_a_tempcontractor_what_salary_equivalent_is_my/

0
 
LVL 31

Assisted Solution

by:Paul Sauvé
Paul Sauvé earned 125 total points
ID: 33600132
You have to know the number of hours per year you work to find the ratio.
7 hours/day x (5 x 52) days per year = 1820 hours
1820 hours x hourly wage = annual salary
0
 
LVL 6

Author Comment

by:anushahanna
ID: 33649303
helpful. thanks very much.
0

Featured Post

How your wiki can always stay up-to-date

Quip doubles as a “living” wiki and a project management tool that evolves with your organization. As you finish projects in Quip, the work remains, easily accessible to all team members, new and old.
- Increase transparency
- Onboard new hires faster
- Access from mobile/offline

Join & Write a Comment

This article seeks to propel the full implementation of geothermal power plants in Mexico as a renewable energy source.
Phishing is at the top of most security top 10 efforts you should be pursuing in 2016 and beyond. If you don't have phishing incorporated into your Security Awareness Program yet, now is the time. Phishers, and the scams they use, are only going to …
The Bounty Board allows you to request an article or video on any technical topic, or fulfill a bounty request to earn points. Watch this video to learn how to use the Bounty Board to get the content you want, earn points, and browse submitted bount…
Articles on a wide range of technology and professional topics are available on Experts Exchange. These resources are written by members, for members, and can be written about any topic you feel passionate about. Learn how to best write an article t…

762 members asked questions and received personalized solutions in the past 7 days.

Join the community of 500,000 technology professionals and ask your questions.

Join & Ask a Question

Need Help in Real-Time?

Connect with top rated Experts

18 Experts available now in Live!

Get 1:1 Help Now