Retiring soon and will be consulting for my old employer - how, and how much, to charge?
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Yes, thanks to French retirement law and being on a salary from BT while at Uni I am going to be able to retire at the end of the month. My employer wants to keep me on as a consultant which will involve some specification/standards drafting, occasional phone IT support and site visits for hardware installation/configuration (we have a SAN project that starts in June). I have been advised to charge twice my current hourly salary, which seems reasonable, but I am wondering about how to charge. What do others think about, for example, charging a minimum half a day if I have to go into the office? Or minimum 30 minutes for any support phone calls? All ideas and comments welcome.
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Yes, thanks to French retirement law and being on a salary from BT while at Uni I am going to be able to retire at the end of the month. My employer wants to keep me on as a consultant which will involve some specification/standards drafting, occasional phone IT support and site visits for hardware installation/configuration (we have a SAN project that starts in June). I have been advised to charge twice my current hourly salary, which seems reasonable, but I am wondering about how to charge. What do others think about, for example, charging a minimum half a day if I have to go into the office? Or minimum 30 minutes for any support phone calls? All ideas and comments welcome.
Clumpco wrote:
how much, to charge?
Whatever you can get. Don't be afraid to ask for a lot. If they don't try to talk you down you didn't ask for enough. :doh: Yes - definitely have provision for a minimum day and phone support.
The report of my death was an exaggeration - Mark Twain
Simply Elegant Designs JimmyRopes Designs
I'm on-line therefore I am. JimmyRopes -
Clumpco wrote:
how much, to charge?
Whatever you can get. Don't be afraid to ask for a lot. If they don't try to talk you down you didn't ask for enough. :doh: Yes - definitely have provision for a minimum day and phone support.
The report of my death was an exaggeration - Mark Twain
Simply Elegant Designs JimmyRopes Designs
I'm on-line therefore I am. JimmyRopes -
Yes, thanks to French retirement law and being on a salary from BT while at Uni I am going to be able to retire at the end of the month. My employer wants to keep me on as a consultant which will involve some specification/standards drafting, occasional phone IT support and site visits for hardware installation/configuration (we have a SAN project that starts in June). I have been advised to charge twice my current hourly salary, which seems reasonable, but I am wondering about how to charge. What do others think about, for example, charging a minimum half a day if I have to go into the office? Or minimum 30 minutes for any support phone calls? All ideas and comments welcome.
Clumpco wrote:
I have been advised to charge twice my current hourly salary,
This is because you will approximately get to keep one half of what you will be earning, the rest is for taxes :sigh: . This means you will get in the end about as much as what you had been earning so far. The question is: is that OK for you, or do you want to charge more ?
~RaGE();
I think words like 'destiny' are a way of trying to find order where none exists. - Christian Graus Entropy isn't what it used to.
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Clumpco wrote:
I have been advised to charge twice my current hourly salary,
This is because you will approximately get to keep one half of what you will be earning, the rest is for taxes :sigh: . This means you will get in the end about as much as what you had been earning so far. The question is: is that OK for you, or do you want to charge more ?
~RaGE();
I think words like 'destiny' are a way of trying to find order where none exists. - Christian Graus Entropy isn't what it used to.
Rage wrote:
the rest is for taxes
Yup! :( Actually not quite so bad as all that, there is a relatively new status for self-employed here called an "auto-entrepreneur" where if you keep your annual turnover below a limit (32700€) you pay a global health insurance/income tax contribution of 26% on 69% of your earnings. Works out at about 18%. No VAT either. Maybe I should wait and see how much they offer first.
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Rage wrote:
the rest is for taxes
Yup! :( Actually not quite so bad as all that, there is a relatively new status for self-employed here called an "auto-entrepreneur" where if you keep your annual turnover below a limit (32700€) you pay a global health insurance/income tax contribution of 26% on 69% of your earnings. Works out at about 18%. No VAT either. Maybe I should wait and see how much they offer first.
I know that, I am French. ;) That turnover is very low, considering it is ... turnover, and not benefit. Then again, I do not know how much time a week you want to work, so if this is not a full job, it might make the trick. Just check if you have all the conditions for working under retirement, I heard about bad experiences as well.
~RaGE();
I think words like 'destiny' are a way of trying to find order where none exists. - Christian Graus Entropy isn't what it used to.
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I know that, I am French. ;) That turnover is very low, considering it is ... turnover, and not benefit. Then again, I do not know how much time a week you want to work, so if this is not a full job, it might make the trick. Just check if you have all the conditions for working under retirement, I heard about bad experiences as well.
~RaGE();
I think words like 'destiny' are a way of trying to find order where none exists. - Christian Graus Entropy isn't what it used to.
Rage wrote:
That turnover is very low, considering it is ... turnover, and not benefit.
Yes, I know, works out at about 2750€/month. But this is on top of my pension benefits, in fact if I go over that turnover they would take away a huge chunk of the retirement. On the other hand, within this limit, this system allows you to earn without losing any pension at all.