Hello All, I'm a Product Management Director with 20 years of experience. I have a start-up company interested in hiring me for 1099-MISC for ~10hrs a week at first. I'm trying to figure out what I should charge. I am a US citizen, so there are no immigration problems here. They want to hire me full-time, but since I have several side hustles and whatnot, they want to do a trial period at first, starting off slow and ramping up with *maybe* a full hire in 4 months or so when they hit certain metrics and can do another series raise, and of course, if we like each other. I currently have a full-time W2 job. So I have benefits, but I know I’ll also need to pay FICA and social security. I’m a noob at this and stayed away from 1099 work in the past, so I would love some advice on what’s reasonable and fair but not cheap. I have 20 years of Product Management experience. I'm very good at what I do. I have direct experience in their problem areas. However, I don't need to charge them to the point of a nosebleed. I'd want a great salary if I went FT, especially if I fix their problems. But just want enough to get my current salary up to a better wage. My current TC is $185, and I'm underpaid currently ( pathetic story here as to why) and ran into this company while job hunting. So this salary supplement is something I want. Thoughts?
What sector is the startup in? Rates could vary widely depending. It could come down to what you feel comfortable with, not a very satisfying answer but you are the best judge of this. If I were in a similar situation with the same YEO I’d charge $200/hour at least, but that’s just me. You should be able to estimate your taxes etc based on your current tax bracket but it never hurts to ask an accountant what your pre-paid would look like once you settle on a rate. Would you take equity in lieu of cash?
The sector is in engineering tech, i.e. a similar company to Toptal or other companies that make money off of finding and delivering talent who can build what you want. Equity would come into the conversation if I was Fulltime.
Roughly twice of what you make in your full-time job per hour
That's what I've heard, but since I don't need to deal with benefits, I was questioning that.
You’re welcome to take less that’s your discretion. In your case I would ask for 200/Hr and accept anything more than 100/Hr.