A day rate calculator for contract workers using the form from Jody's awesome talk on contracts at EDA. Uses
- React
- the create-react-app bootstrapper and
- the material ui React component library
Click here to try the calculator out!
So, you’re a Contractor! You pay your own taxes, you don’t get holidays, you probably have to provide your own computer equipment, and you’re there for a very specific task / project. You can probably be terminated with very little notice. The good news is, if you are going to be a Contractor, you can expect to be paid a bit more to compensate for the lack of job security. When you’re calculating how much you need to earn, you could consider the following:
| You want to add up: | |
|---|---|
| Salary | 80,000 |
| 3% Kiwisaver Employer minimum contribution | 2,400 |
| Depreciation over three years: cost of a $1500 laptop, you and your client going halves: (1,500/3)/2x your FTE. In this case, we’re assuming you are full time. So your FTE is 1. | 250 |
| Assuming you are having to use your own cellphone for work - $10 a month toward the cost of a decent plan | 120 |
| Total | 82,770 |
| Now you need to calculate your day rate. Add up: | |
| Annual leave days | 20 |
| Sick leave days | 5 |
| Public holidays (this is based on 2016) | 12 |
| Weekends | 104 |
| Total days you are NOT working | 141 |
| Total days you ARE working (365 minus 141) | 224 |
| Your day rate is $82,770 / 224 | $369.50 |