19 Jan 2010
I’ve always wondered what recruitment agents use as their formula to convert between salaries and contract rates.
(updated August 2015)
Here’s a formula for giving ballpark figures, given to me by a recruiter:
Salary divided by 48 weeks, divided by 40 hours, plus 20% (super,
training, sick leave, etc) =~ Hourly rate
For example, $100K =~ $62.50/hour, $150K =~ $93.75/hour.
A ready-reckoner:
Salary | Hourly | Daily |
$80,000 | $50.00 | $333.28 |
$85,000 | $53.13 | $354.11 |
$90,000 | $56.25 | $374.94 |
$95,000 | $59.38 | $395.77 |
$100,000 | $62.50 | $416.60 |
$105,000 | $65.63 | $437.43 |
$110,000 | $68.75 | $458.26 |
$115,000 | $71.88 | $479.09 |
$120,000 | $75.00 | $499.92 |
$125,000 | $78.13 | $520.75 |
$130,000 | $81.25 | $541.58 |
$135,000 | $84.38 | $562.41 |
$140,000 | $87.50 | $583.24 |
$145,000 | $90.63 | $604.07 |
$150,000 | $93.75 | $624.90 |
$155,000 | $96.88 | $645.73 |
$160,000 | $100.00 | $666.56 |
$165,000 | $103.13 | $687.39 |
$170,000 | $106.25 | $708.22 |
$175,000 | $109.38 | $729.05 |
$180,000 | $112.50 | $749.88 |
$185,000 | $115.63 | $770.71 |
$190,000 | $118.75 | $791.54 |
$195,000 | $121.88 | $812.37 |
$200,000 | $125.00 | $833.20 |
Here’s the numbers for doing quick calculations:
Salary Ks to | Hourly | * 0.625 |
Hourly to | Salary Ks | * 1.6 |
Salary Ks to | Daily | * 4.166 |
Daily to | Salary | * 0.24 |
See also
The Software Engineer’s Guide to Negotiating a Raise
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