![]() ![]() Andre doesn’t realize it, but there’s a good chance he actually would have saved money by hiring the consultant. The reality is that the costs per employee calculations when hiring are vastly different (and often greater) than those involved in bringing on a consultant, and the differences go way beyond annual salaries and hourly rates. Unfortunately, like all too many hiring managers, Andre’s financial analysis was overly simplistic and highly flawed as a result. ![]() So Andre decides to look for an employee to hire instead and save money. In contrast, Andre is sure he can hire a great developer as an employee for $100K or less. After all, Andre reasoned, that’s equivalent to an annual salary of over $145K, based on a typical 2,080 work hours per year. ![]() Andre was ready to bring on Roger, a freelance consultant who came highly recommended but backed off upon learning that Roger’s rate was $70/hour. He needs top software engineering talent and he needs it fast. Consultant Costs A Typical Flawed AnalysisĪndre’s gotten funding for his company and is looking to staff his development team. Don’t Be Fooled: How to Calculate Employee Costs vs. ![]()
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