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waitingnwaiting
06-14-2012, 10:11 AM
Can someone tell me what are the consulting per hour rates these days for different skills? I am thinking of becoming one as I just lost my job. I recently got EAD from my spouse EB2 application. Is it worth doing consulting jobs vs fulltime jobs?

Please share pros and cons.

njverifier
06-14-2012, 10:24 AM
Can someone tell me what are the consulting per hour rates these days for different skills? I am thinking of becoming one as I just lost my job. I recently got EAD from my spouse EB2 application. Is it worth doing consulting jobs vs fulltime jobs?

Please share pros and cons.

Here are my thoughts about consulting:

1. Pay rates are not fixed. They vary based on clients/vendors.
2. You should always negotiate the rate with vendors
3. Most of the time consulting will result in traveling
4. Traveling(Mon-Thus) will be an option if you are paid expenses, again needs to be negotiated with the vendor
5. Not a best option if you have kids
6. Best option for bachelors and to an extent to married couple with no kids
7. you will have to look for a new contract/project once the existing contract/project ends
8. This means there will be no continuity in your income... I mean you will be paid for the duration of the contract. if you get a break between contract to contract you will not get paid during that break period
9. Need to keep track of payments made by vendors and you should followup with them so that you will be paid on time and the correct amount

So far these are the things I can think of... I will keep adding to these thread if I think/find anything else about consulting

waitingnwaiting
06-14-2012, 10:32 AM
Here are my thoughts about consulting:

1. Pay rates are not fixed. They vary based on clients/vendors.
2. You should always negotiate the rate with vendors
3. Most of the time consulting will result in traveling
4. Traveling(Mon-Thus) will be an option if you are paid expenses, again needs to be negotiated with the vendor
5. Not a best option if you have kids
6. Best option for bachelors and to an extent to married couple with no kids
7. you will have to look for a new contract/project once the existing contract/project ends
8. This means there will be no continuity in your income... I mean you will be paid for the duration of the contract. if you get a break between contract to contract you will not get paid during that break period
9. Need to keep track of payments made by vendors and you should followup with them so that you will be paid on time and the correct amount

So far these are the things I can think of... I will keep adding to these thread if I think/find anything else about consulting

Thank you for your insights. Could you also tell the pay rates in range these days so that I can negotiate better.

njverifier
06-14-2012, 10:33 AM
Here are my thoughts about consulting:

1. Pay rates are not fixed. They vary based on clients/vendors.
2. You should always negotiate the rate with vendors
3. Most of the time consulting will result in traveling
4. Traveling(Mon-Thus) will be an option if you are paid expenses, again needs to be negotiated with the vendor
5. Not a best option if you have kids
6. Best option for bachelors and to an extent to married couple with no kids
7. you will have to look for a new contract/project once the existing contract/project ends
8. This means there will be no continuity in your income... I mean you will be paid for the duration of the contract. if you get a break between contract to contract you will not get paid during that break period
9. Need to keep track of payments made by vendors and you should followup with them so that you will be paid on time and the correct amount

So far these are the things I can think of... I will keep adding to these thread if I think/find anything else about consulting

If traveling is not an option you will have to relocate which might result in separation from family for the contract duration.

ambermollers
06-20-2012, 01:29 AM
Why is the payment not fixed?

go_guy123
06-20-2012, 07:29 AM
Thank you for your insights. Could you also tell the pay rates in range these days so that I can negotiate better.

If you can structure the deal properly Consulting xan save money.
In case of consulting you need to work incorporated as S-Corp.
That way you get a small salary and rest take out as expenses or proceeds.
The proceeds get taxed at individual level but Social security taxes are not there.

I am not sure if you eligible for S corp though. One has to be citizen or resident alien.