Keith Casey mailinglists-at-caseysoftware.com |nyphp dev/internal group
use| wrote:
On 6/18/07, Greg Rundlett <[EMAIL PROTECTED]> wrote:
Annual Salary/2,000 = hourly rate
There are 52 weeks /yr
minus 2 weeks /yr vacation
= 50 weeks @ 40 hrs / week
= 2,000 hours / yr available for work
This is a rough estimation of the hourly *Cost*
E.g. for worker "John" 100K annual rate (~$50/hr)
Just to throw out one additional tidbit... this is *only* considering
the actual dollar-cost of the person's salary but that's not the whole
picture.
Once you factor in Social Security (employer's half), health
insurance, workers comp, 401k contributions, office space, etc, you
can add anywhere from 20-33% to this number to represent the *cost* of
the employee to the employer.
The last time I was with the Feds and we were calculating FTE's, we
used +31.5% on top of base salary... so the above $50/hour should be
$66/hour to be a real FTE.
kc
Yes and in grant world (where proposals are written to get government
contracts) each institution has an "indirect rate" pre-negotiated with
the government. So before even applying for a contract, you negotiate
the overhead that covers all those costs.
Last I heard Johns Hopkins was in the 70% range... meaning if they bid
$100k as the cost for doing the work, they would get a check for $170k.
A lesser institution may have negotiated a 40% indirect rate, so when
they bid the same $100k to do the work they would actually get $140k.
You can probably see how the government tries to separately manage the
larger issues of the cost of quality / credit history/ impact of
regional economies from the actual costs of doing the work.
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