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Contract Daily Rate

  • 15-08-2015 1:18pm
    #1
    soulglo79
    Registered Users, Registered Users 2 Posts: 55 ✭✭


    Can anyone tell me what would be a typical daily or hourly rate for a process engineer with ~6 6 years experience in the Biotech industry? I'm currently in a permanent role in Food & Beverage but am looking to move into Life Science.


Comments

  • #2
    MrMischief
    Registered Users, Registered Users 2 Posts: 279 ✭✭MrMischief


    Hi,

    Depends on what company you apply through. Some apply a daily rate and some apply an hourly rate. Be careful of the daily rate as you if you work a 60 hour week (which is typical of contract roles in that industry) you only get paid for the 40 hour week.

    With 6 years relevant experience you'd be looking at €40 - €70 per hour but I'd start negotiations at €50/hour and see how you get on.

    Also factor in no holiday pay, no sick leave, no health insurance etc when going for a contract position.

    MrM


  • #3
    soulglo79
    Registered Users, Registered Users 2 Posts: 55 ✭✭soulglo79


    Thanks MrM, some great info there. I'll keep it in mind ... thanks again!


  • #4
    soulglo79
    Registered Users, Registered Users 2 Posts: 55 ✭✭soulglo79


    MrMischief wrote: »
    Hi,

    Depends on what company you apply through. Some apply a daily rate and some apply an hourly rate. Be careful of the daily rate as you if you work a 60 hour week (which is typical of contract roles in that industry) you only get paid for the 40 hour week.

    With 6 years relevant experience you'd be looking at €40 - €70 per hour but I'd start negotiations at €50/hour and see how you get on.

    Also factor in no holiday pay, no sick leave, no health insurance etc when going for a contract position.

    MrM

    So at a daily rate of say 400 euro, you'd be looking at 100k Base salary. What would be the equivalent salary for a permanent role taking get holidays, pension etc into account? Approximately.


  • #5
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    As a rule of thumb, you can determine your daily rate as your expected annual permanent position salary + 20%, divided by 230.


  • #6
    2011
    Moderators, Home & Garden Moderators, Technology & Internet Moderators, Regional East Moderators Posts: 12,641 Mod ✭✭✭✭2011


    Deleted User wrote: »
    As a rule of thumb, you can determine your daily rate as your expected annual permanent position salary + 20%, divided by 230.

    Very good, your "rule of thumb" is incredibly accurate in my case.

    I was working as a contractor for 6 years (E & I engineer), went staff several months ago with a well known consultancy.


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  • #7
    air
    Registered Users, Registered Users 2 Posts: 2,834 ✭✭✭air


    soulglo79 wrote: »
    So at a daily rate of say 400 euro, you'd be looking at 100k Base salary.
    No more like 90k, unless you are going to work all the bank holidays and take no annual leave.
    In 2015 there are 252 working days, minus 9 bank holidays gives you 243 working days.
    Allow 20 days annual leave and you're down to 223 days which will give you about 90k. It's a marginal enough rate for long term contracting when you have to look after your own pension etc.

    Have a look at
    http://www.work-day.co.uk/


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