Tag Archives: hourly rate

How overtime pay went from labor right to a rarity | Fast Company

While in the White House, Barack Obama had ambitious plans to expand overtime pay to millions of American workers who didn’t receive it, seeking to revive the New Deal promise of a fair wage for a fair day’s work. He was partly inspired by a single mom working at a sandwich shop in Tucson, Arizona.

Elizabeth Paredes was 23 and raising a 3-year-old boy in 2015 when she concluded it was unfair that she didn’t get paid time and a half for the extra hours she put in as an assistant manager at Baggin’s Gourmet Sandwiches. She was working at least 50 hours a week at the deli chain but still wasn’t earning a higher wage for those overtime hours, leaving her struggling to pay her rent, buy groceries, and afford childcare. Paredes went to her manager to complain, but she says he replied with the words: “That’ll never happen.”

Read More

Is It Time to Consider a Fixed Fee for Your Consulting Services? | Liz Steblay

Generally, the more experience you have as an independent consultant, the more likely you should move from billing by the hour to a fixed fee. At some point you’ll master your specialty and work much more efficiently than others. This means to earn what your services are truly worth, you’ll have to keep raising your hourly rates. But at some point, you’ll reach an invisible rate ceiling when clients think you’re too expensive, even if it takes you half the time to do the work.

When you reach this point, it’s time to start thinking about billing for your services by the project instead of by the hour or day. The idea is to price the project as if you’re going to do it from scratch, even though you know you’re going to adapt plans and materials from prior projects. By doing so, you’ll boost your income per hour.

Read Only