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Will You Add? - Self-Employment: Do you know the Difference between Rates and Wages
The good news is that an e-green office is not only good for the planet, its economical. And, when combined with a few other green tactics, it is healthier. Try some or all of the following:1. Purchase upgradeable computers and other electronic equipment. When necessary, upgrade rather than replace. You save money and reduce consumerism.2. Turn off electronic equipment when not in use to reduce energy by 25%. If you put
Your wage is the payment for your labor.
The employer supplies the necessary equipment and supplies for you to do the work. And, the employer supplies your workplace.
You enjoy all of the legal and social pr
An elderly lady gazed at the array of smoothie options as she approached the counter at Freshens Yogurt in the DFW Airport. The line was quite long and I was eating within earshot of the counter. The interaction (note: an interaction, not a transaction) went something like this:Manager: What type of smoothie are you in the mood for today? Guest: There are so many, I cant decide. Manager: Well, No.1 and No.16 are the most
Both look similar on the surface; both are expressed in dollars and cents per hour. But they each represent something very different.
Wages are the payment a worker receives for his labor.
Rates are the payment a business receives for performing a serivce to a client. In addition to the labor used in performing that service, rates must cover the business's overhead.
Because of that, rates have to be higher than hourly wages earned by employees for comparable work.
Most newly self-employed workers are former employees. They are accustomed to receiving pay based on wages. Because they don't understand the difference between rates and wages, when they start out, they tend to set their rates too low.
To survive, your rates must be high enough to pay the bills and enable you to earn a living.
Some of the differences between a self-employed person's rates and an employee's wages are explained below.
WAGES
If you are a wage earner, you are due an hourly wage just by being present and willing to work at a set time, for the period of time demanded by your employer.
Your wage is the payment for your labor.
The employer supplies the necessary equipment and supplies for you to do the work. And, the employer supplies your workplace.
You enjoy all of the legal and social pro
You've probably been taught not to stereotype people based on race, religion or sex. But when you make a career or business decision, do you still make decisions based on stereotypes?"Insurance sales reps must be gregarious."Hal, a successful insurance agent for many years, has developed a portfolio of loyal, happy clients. Hal can be described as an introvert. He rarely speaks unless spoken to, and then he speaks briefly and softly
Rates are the payment a business receives for performing a serivce to a client. In addition to the labor used in performing that service, rates must cover the business's overhead.
Because of that, rates have to be higher than hourly wages earned by employees for comparable work.
Most newly self-employed workers are former employees. They are accustomed to receiving pay based on wages. Because they don't understand the difference between rates and wages, when they start out, they tend to set their rates too low.
To survive, your rates must be high enough to pay the bills and enable you to earn a living.
Some of the differences between a self-employed person's rates and an employee's wages are explained below.
WAGES
If you are a wage earner, you are due an hourly wage just by being present and willing to work at a set time, for the period of time demanded by your employer.
Your wage is the payment for your labor.
The employer supplies the necessary equipment and supplies for you to do the work. And, the employer supplies your workplace.
You enjoy all of the legal and social pr
Not Very! You might find that answer surprising, considering I am the president of a recruiting software company. We have been producing recruiting software for 25 years. I have also spent 25 years as a recruiter in the very competitive Los Angeles market.I talk to a lot of recruiters every day who are trying to decide on recruiting software. There is a variety of recruiting software products out there and it seems as if a new one pops
Most newly self-employed workers are former employees. They are accustomed to receiving pay based on wages. Because they don't understand the difference between rates and wages, when they start out, they tend to set their rates too low.
To survive, your rates must be high enough to pay the bills and enable you to earn a living.
Some of the differences between a self-employed person's rates and an employee's wages are explained below.
WAGES
If you are a wage earner, you are due an hourly wage just by being present and willing to work at a set time, for the period of time demanded by your employer.
Your wage is the payment for your labor.
The employer supplies the necessary equipment and supplies for you to do the work. And, the employer supplies your workplace.
You enjoy all of the legal and social pr
If Calvin Klein taught us anything, its the value of wearing a brand name on your butt. While most people think of promotional items as freebie giveaways to attract more business, theres another side of promotional items that can add to your bottom line. Selling promotional items can be an excellent way to make money for your business and increase your brand recognition at the same time.The benefits of selling promotional items or gifts
Some of the differences between a self-employed person's rates and an employee's wages are explained below.
WAGES
If you are a wage earner, you are due an hourly wage just by being present and willing to work at a set time, for the period of time demanded by your employer.
Your wage is the payment for your labor.
The employer supplies the necessary equipment and supplies for you to do the work. And, the employer supplies your workplace.
You enjoy all of the legal and social pr
Over the years, I have observed any number of approaches to getting employees to work more effectively, smarter and harder. You would be amazed at how na?ve many managers are today when it comes to understanding human nature, motivation and emotional needs and drives.People want a number of things in their careers or jobs. To mention a few, they want:· To be involved. · To feel like they belong. · To contribute. · To
Your wage is the payment for your labor.
The employer supplies the necessary equipment and supplies for you to do the work. And, the employer supplies your workplace.
You enjoy all of the legal and social protections due to employees such as Unemployment Insurance, and employer paid Worker's Compensation Insurance.
Most full-time employees enjoy fringe benefits. These range from paid vacation and sick days, subsidized health insurance, retirement benefits, etc. to stock options and more to higher ranking employees at larger companies.
RATES
As a self-employed service provider, you receive income based on your billable hours, that is, time spent on performing services for your clients.
You furnishes your own supplies. Unless the service is one that is performed off- site, you supply your own workspace.
You have to equip yourself to be in business and provide your services: You must procure and equip your workplace, invest in skill and product development, market your services, purchase business insurance, and handle billing, recordkeeping and collections.
As a business owner you take on a great deal of risk. It is reasonable, and expected, that your rates should allow for a reasonable profit over and above your expenses and salary.
The above is true for any business. Below are additional costs you pay because you ar
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