Most contractors are already making $12/hr. I know its hard to swallow when you go in-house but when I ran the numbers at $1300/week contracting I was making about $15/hr.
$1300 week = $5200 month
- $400 month for truck. You either have a car payment or get them fixed, but at 50k miles/year I think this is a fair number.
- $300 month for insurance. I don't know if this number applies to folks not in the rebuild, but that was mine for vehicle liability and workman's comp premium you can use to wipe your ass.
- $250 to actually use workman's comp.
- $600 month for gas. You can drive a smaller truck and do better, but this is figured a $3/gallon, so it could be worse. Or you could drive more than me.
- $100 month for tools. Something comes up.
Ok, so after you've paid for the equipment you're left with $4550/month. Take away 7.5% of that because you have self-employment tax to think about $4200. Now you're back to a grand a week, awesome pay for an employee right? Wait a minute. It took you 60 HOURS, and you better pay yourself overtime right? so that 60 hours at a grand a week is about $15/hr. That's on a week when nothing breaks, the weather is great, there's not traffic accidents, and you actually get decent work. Some weeks may even be better, so you take the good with the bad. Personally, I'd take this kind of compensation all day long because I like having my own schedule, and its up to me to keep my overhead down. If I thought there was really a chance making this kind of money I never would have left.
A contractor has to be able to make enough money to acutally MAKE MONEY and not just survive untill something goes wrong. You wouldn't run a business to break even. NOW, what happens when $1300/week goes to $1100/week? We've all heard the lines: "Where else are you gonna make a grand a week?" Well, my pay rate just went fron $15/hr to $11.50/hr.
$800/week @ 60 hours = ($10x40hrs) + ($15x20hrs) = roughly $11.50/hr.
NOW, FOR YOU IDIOTS CONTRACTING FOR $700-900 WEEK, I HAVE SOMETHING TO TELL YOU: Your mother wants her car back, and remember to feed the dog and put away your laundry.
Re: really really thats whut charter pays
Member #: 26502
Registered: 11/10/2003
Posted:
108
Name:
matt
Company:
cc contracting
Occupation:
cable guy
Location:
manchester
There is 1 reply to this message
