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Showing posts from March, 2010

How much am I worth – and how do I know this?

A boss of mine awhile ago used to say “Bargain hard at the beginning [for your salary] and then I don’t want to hear from you again.”But one of the difficulties new professionals have is finding out what their target rate (annual salary, daily rate) should be so you can do that negotating. So here are some ways to try to gather more information.There is something called the 260 rule that some US government agencies use to calculate someone’s daily rate. It gives you a good rule of thumb. The 260 rule says – take your annual salary and divide it by 260 days and that will give you your daily rate. So, if you’re employed and wanting to consult (which means you now have expenses such as health insurance), you can try to adjust your daily rate upwards to cover these additional costs of being an independent consultant. (Note that, even though you have these additional costs to bear, not all US agencies’ contracting officers will allow you this increase.) If you are an independent consultant…