bumpdaddy Posted January 25 Report Share Posted January 25 Have you evern noticed that no matter how much you get paid you always feel like you're being underpaid? I met a guy friday who has bsicly doubled his salary in 3 years and he's looking to make a career change . I often feel the same way. What amazes me is is that I always feel like I wish I could be making X amount and when I get it the number changes really quickly. Does it bother anyone else that the company you work for bills out your time for 3-4 times what they pay you??? I mean I realize there is overhead and profit to be covered but i know for a fact that many times the profit margin is over 100 percent. Quote Link to comment Share on other sites More sharing options...
babbo Posted January 25 Report Share Posted January 25 Originally posted by bumpdaddy Have you evern noticed that no matter how much you get paid you always feel like you're being underpaid? I met a guy friday who has bsicly doubled his salary in 3 years and he's looking to make a career change . I often feel the same way. What amazes me is is that I always feel like I wish I could be making X amount and when I get it the number changes really quickly. Does it bother anyone else that the company you work for bills out your time for 3-4 times what they pay you??? I mean I realize there is overhead and profit to be covered but i know for a fact that many times the profit margin is over 100 percent. ahh, young grasshopper- perhaps it is time to go out on your own- perhaps not 'working", and not getting "paid" by some else- start your own gig perhaps????? Quote Link to comment Share on other sites More sharing options...
georgym Posted January 25 Report Share Posted January 25 i often wonder what the figures for divying out the loot is.But i think it's just as important (if not more) with WHAT you do with your money as it is how much you earn.For instance, someone who brings their food to work at least 2-3 times a week for 1 year can save a little over $1000 a year! (For me, it's about $20 for 3 days worth of lunch, so $20 X 52 weeks = a $hitload of savings :eek: Quote Link to comment Share on other sites More sharing options...
bumpdaddy Posted January 25 Author Report Share Posted January 25 Its not a matter of the money not being enough to do what I want.. Most people would probably say I'm very much overpaid... I guess maybe I'm at that age where I should go out on my own... I'm pretty much at the point where I'm bringing in and dealing with my own clients anyway. Quote Link to comment Share on other sites More sharing options...
babbo Posted January 25 Report Share Posted January 25 Originally posted by bumpdaddy Its not a matter of the money not being enough to do what I want.. Most people would probably say I'm very much overpaid... I guess maybe I'm at that age where I should go out on my own... I'm pretty much at the point where I'm bringing in and dealing with my own clients anyway. sounds like your ready to go on yr own- talk to a few key clients you can confide in- if they would back you- make the move to your own gig Quote Link to comment Share on other sites More sharing options...
Destiny Posted January 26 Report Share Posted January 26 I don't get paid nearly what I should be in actual money...however my boss arranged it so that I get less taxes taken out of my pay then I normally would and I get ALL free services except cosmetic....it balances out:tongue: ...well for the most part Quote Link to comment Share on other sites More sharing options...
captainpec Posted January 26 Report Share Posted January 26 Originally posted by bumpdaddy Have you evern noticed that no matter how much you get paid you always feel like you're being underpaid? I met a guy friday who has bsicly doubled his salary in 3 years and he's looking to make a career change . I often feel the same way. What amazes me is is that I always feel like I wish I could be making X amount and when I get it the number changes really quickly. Does it bother anyone else that the company you work for bills out your time for 3-4 times what they pay you??? I mean I realize there is overhead and profit to be covered but i know for a fact that many times the profit margin is over 100 percent. When I first started working full-time over four years ago, my salary was over $20/hr... my bill rate at that time was approximately $220hr. I no longer work there, but you need to factor many expenses (aside from what you might consider "overhead")... Expenses like liability insurance, property insurance, advertising, audit fees, general consulting, etc.... Additionally, while you and/or your department are making money, there are departments within your organization that are not profit centers... but rather "service" organizations like your marketing, accounting and information technology department just to name a few. Fact of the matter is greed - we are all greedy and the more we get, the more we want. Quote Link to comment Share on other sites More sharing options...
babbo Posted January 26 Report Share Posted January 26 Originally posted by captainpec When I first started working full-time over four years ago, my salary was over $20/hr... my bill rate at that time was approximately $220hr. I no longer work there, but you need to factor many expenses (aside from what you might consider "overhead")... Expenses like liability insurance, property insurance, advertising, audit fees, general consulting, etc.... Additionally, while you and/or your department are making money, there are departments within your organization that are not profit centers... but rather "service" organizations like your marketing, accounting and information technology department just to name a few. Fact of the matter is greed - we are all greedy and the more we get, the more we want. agree with your post- yet in larger corps- ALL depts are profit centers- ALL Quote Link to comment Share on other sites More sharing options...
captainpec Posted January 26 Report Share Posted January 26 "Profit Centers" - but the term is misleading since those revenues do not fall through to the bottom-line of the P&L... for an individual departments performance rating, the revenue might look sweet - but the expense is picked up under another department receiving the services... similar in theory to inter-company revenues (with a parent company and their subsidiaries)... all interco revenues are eliminated on a consolidated basis. Quote Link to comment Share on other sites More sharing options...
bumpdaddy Posted January 26 Author Report Share Posted January 26 It's survival of the fittest in my industry. I guess that's what feuls my attitude. I'm constantly being pressured to produce more and more so I guess it's right that I feel I should be earning more and more. As for the Additional expenses you're discussing, I take all of that into account. Bear in mind that in a large firm such as mine the overhead and expenses are absorbed by revenues that are generated by a huge number of employees thereby making it less of a load. I know what our projected overhead/profit multiplier is and it's basicly 1.6 times my rate (including benefits) . What that basicly means is: for every 10 dollars I earn in salary and benefits the client should be billed 26 dollalrs. I've seen many instances where the ratio has been double that (for every 10 dollars the client is billed $52 or more) Basicly what Babbo says is very true. Every division is a profit center. Some have better margins than others but the weak divisions always get shaken up and sometimes sold off or eliminated alltogether. I don't really think it's greed as much as it is wanting to get a fair share. Quote Link to comment Share on other sites More sharing options...
babbo Posted January 26 Report Share Posted January 26 Originally posted by bumpdaddy It's survival of the fittest in my industry. I guess that's what feuls my attitude. I'm constantly being pressured to produce more and more so I guess it's right that I feel I should be earning more and more. As for the Additional expenses you're discussing, I take all of that into account. Bear in mind that in a large firm such as mine the overhead and expenses are absorbed by revenues that are generated by a huge number of employees thereby making it less of a load. I know what our projected overhead/profit multiplier is and it's basicly 1.6 times my rate (including benefits) . What that basicly means is: for every 10 dollars I earn in salary and benefits the client should be billed 26 dollalrs. I've seen many instances where the ratio has been double that (for every 10 dollars the client is billed $52 or more) Basicly what Babbo says is very true. Every division is a profit center. Some have better margins than others but the weak divisions always get shaken up and sometimes sold off or eliminated alltogether. I don't really think it's greed as much as it is wanting to get a fair share. suggestion- shop yrself around- try to determine your "WORTH"to a competitor- and look into setting up your own deal Quote Link to comment Share on other sites More sharing options...
bumpdaddy Posted January 26 Author Report Share Posted January 26 Originally posted by babbo suggestion- shop yrself around- try to determine your "WORTH"to a competitor- and look into setting up your own deal Heh, every time I do that and give my notice they always wind up caving in and offering me more. Maybe I wan't more because I've always been able to get it. I can't really do my own business since I've signed a Non-Compete contract. My contract states that I won't solicit business from the firms clients if I leave for at least one year aafter termination. I'm not really looking to go anywhere I just introduced the topic becasue it seems like everyone around me is making a good living and nobody is ever satisfied, including myself. Quote Link to comment Share on other sites More sharing options...
babbo Posted January 26 Report Share Posted January 26 Originally posted by bumpdaddy Heh, every time I do that and give my notice they always wind up caving in and offering me more. Maybe I wan't more because I've always been able to get it. I can't really do my own business since I've signed a Non-Compete contract. My contract states that I won't solicit business from the firms clients if I leave for at least one year aafter termination. I'm not really looking to go anywhere I just introduced the topic becasue it seems like everyone around me is making a good living and nobody is ever satisfied, including myself. seems like you've got a "job"- for lots of people- that means work and $$$, but not something they truly dig/enjoy Quote Link to comment Share on other sites More sharing options...
bumpdaddy Posted January 26 Author Report Share Posted January 26 Originally posted by babbo seems like you've got a "job"- for lots of people- that means work and $$$, but not something they truly dig/enjoy I like my job...but I always feel like there's something better out there ... Quote Link to comment Share on other sites More sharing options...
babbo Posted January 26 Report Share Posted January 26 Originally posted by bumpdaddy I like my job...but I always feel like there's something better out there ... then there prob is.... Quote Link to comment Share on other sites More sharing options...
captainpec Posted January 26 Report Share Posted January 26 Bump - what profession are you in? Public acct? Quote Link to comment Share on other sites More sharing options...
bumpdaddy Posted January 26 Author Report Share Posted January 26 Construction Management/Engineering Quote Link to comment Share on other sites More sharing options...
dgmodel Posted January 26 Report Share Posted January 26 Originally posted by babbo sounds like your ready to go on yr own- talk to a few key clients you can confide in- if they would back you- make the move to your own gig exactly... in terms of money and enough... its never enough... because if its enough for you and you can live very comfortably you can always do positive things for others with the monies youve made... Quote Link to comment Share on other sites More sharing options...
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