Have you ever wondered how much your contracting firm bills clients for your work? I recently stumbled upon this information, and what I found was eye-opening. My firm bills clients $125 per hour for senior-level development work, while I’m making $80 per hour and my colleague is making $55 per hour. The margin is staggering – $45 per hour is a significant difference.
As a contractor operating as an LLC, I don’t have the same benefits as employees, like insurance or unemployment costs. But even considering this, the difference in pay seems unfair. My colleague is certainly underpaid, but I couldn’t help but wonder if I’m being taken advantage of too.
So, what can you do if you find yourself in a similar situation? First, take a closer look at your contract and understand the terms of your agreement. Then, consider having an open and honest conversation with your firm about the billing rate and your compensation. It may be uncomfortable, but it’s essential to know your worth and advocate for yourself.
How would you handle this situation? Have you ever discovered a significant margin between your pay and the billing rate? Share your experiences in the comments below.