calculate salary must calculate the hidden cost also

That is great.

You have proven (with figures) that your SME is comparable to your friend's GLC.

Although it is an absolutely silly post, i am sure u have convinced yourself with it and it certainly makes u very happy

Congratulations! haha.

Originally Posted by kakarukeys

I have a friend who worked in GLC, gloated over my low pay and suggested me to quit and join her.

So I calculated for her, what her "actual" salary was.

a 4-year experienced IT consultant,

Her annual based on monthly wage: 12 x $3300 = 39600
Her bonus/AWS (2011): 4 x $3300 = 13200
Her OT Pay = 0
She works 8hrs per day + 2hrs OT for free per day (THIS IS THE HIDDEN COST). Sometimes she came back on weekends, but let's don't count that

Work days in a year = about 230 days (excluding leaves, ph, MCs)
Work hours in a year = 230 x 10 = 2300 !!
Hourly rate = (39600 + 13200) / 2300 = $23 / hr

I had a job in SME sector that doesn't require me to do OT, but has very low bonus.
but my hourly rate is about $22 / hr, almost the same

Comparisons by hourly rate is spurious unless you actually charge by hourly rate. Following your dubious methodology then you might as well adjust for coffee breaks, lunch breaks, commuting times, etc....in which case that takes you down another rabbit hole.

If you want to compare salary then compare salary.... What makes you think your friend doesn't value working OT? Maybe that's just her investment to secure quicker promotion or she might value working extra hours more than leisure time?? Does that mean she not only earns more than you but also derives same daily satisfaction as well?

I'm typing this during my uk lunch break..and decent consultants are paid according to their talent and experience and not by their nationality.

And decent consultants go freelance because they cut out the bosses and partners and work for themselves. If you really value leisure time, go freelance if you have the talent....otherwise continue spending your time finding a compensation metric that shows you off in a superior light.

Btw, I charge around 500 pounds daily but I don't compare with my banking friends about hourly rate.... And they don't haolian to me about their bonuses or lack thereof..




I'm typing this over lunchtime in the UK. I charge a daily rate for my services as a freelance e contractor in the UK.

[kakarukeys]

Originally Posted by Unregistered

Hi, I chanced upon this thread and I can't help but to agree with what has been commented thus far. Pardon me for being blunt, but I feel that such analysis is totally a waste of time and reflects a very immature way of thinking.

Take your trolling to other threads, or give fact to prove or disprove the analysis.

[kakarukeys]

Originally Posted by Unregistered

Comparisons by hourly rate is spurious unless you actually charge by hourly rate. Following your dubious methodology then you might as well adjust for coffee breaks, lunch breaks, commuting times, etc....in which case that takes you down another rabbit hole.

If you want to compare salary then compare salary.... What makes you think your friend doesn't value working OT? Maybe that's just her investment to secure quicker promotion or she might value working extra hours more than leisure time?? Does that mean she not only earns more than you but also derives same daily satisfaction as well?

A monthly salary can be converted to hourly rate for the sake of comparison. And it's mathematically more sound. There is no need to adjust for minor factors, if they aren't significant enough to affect the results.

You have a good point. If a person enjoys extra work and she doesn't mind doing it for free, there is no point doing the comparison. My comparison is purely monetary in nature, and I assign a dollar value to every hour and every effort put in. This is just a methodology for a reference.

I too don't compare salaries unless the other person brings this up purposefully

Originally Posted by kakarukeys

No! Total earning, monthly wage, annual wage are misleading! Precisely why I posted the calculations. They don't take total working hours, leaves into consideration.

In my case, I have more free time than my friend. If I want, I can choose to work freelance in my free time, then my earnings will trump hers (on same working hours). But I prefer to spend the time with my family.



Bankers & traders are different. You compare orange with apple la. My industry is IT consulting, here people charge client by hourly rate or man-day rate. It's natural to assess self-worth by hourly rate.

I am in IT as well, mine works out to be sgd 91/hr (190K per annum over 230 days and 9 hrs per day)

i make 100/hr giving private tuition. but i only got 1 student, 1.5 hours a week.

Going by this dubious logic, SAF regulars are one of the highest paid jobs in SG.

Last time my OC comes in at 8am, breakfast 8:30-9:30, drives off for lunch 11:30-2pm, tea break 3:30-4:30, leaves at 5:30. Out of the 5hrs non-eating time daily, half of it is surf net, walk around chit chat, so actual work is 2hrs daily.

Going by your logic he draws 6k monthly so divide by 40hrs monthly works out to be $150 per hour. I guess in your fantasy land, investment bankers are losers and SAF regulars are super high-fliers.

Now take the $150 x 80 hr work week x 4 weeks = $48,000. Wah did you know your OC makes $48,000 monthly when adjusted for long working hours?

See how bo liao this whole exercise is???

Originally Posted by Unregistered

Going by this dubious logic, SAF regulars are one of the highest paid jobs in SG.

Last time my OC comes in at 8am, breakfast 8:30-9:30, drives off for lunch 11:30-2pm, tea break 3:30-4:30, leaves at 5:30. Out of the 5hrs non-eating time daily, half of it is surf net, walk around chit chat, so actual work is 2hrs daily.

Going by your logic he draws 6k monthly so divide by 40hrs monthly works out to be $150 per hour. I guess in your fantasy land, investment bankers are losers and SAF regulars are super high-fliers.

Now take the $150 x 80 hr work week x 4 weeks = $48,000. Wah did you know your OC makes $48,000 monthly when adjusted for long working hours?

See how bo liao this whole exercise is???

haha good one!

[kakarukeys]

The problem is your OC can't monetize the "free time". He can't do other work, so the "free time" has to be counted as working time. So your calculation is flawed.

Originally Posted by kakarukeys

The problem is your OC can't monetize the "free time". He can't do other work, so the "free time" has to be counted as working time. So your calculation is flawed.

It's hard to monetize free time. Many housewives have tried part-time sales and telemarketing jobs from home, but they either got scammed or they couldn't make much. The best monetization so far has been giving private tuition, but you need a good track record or a believable face that parents trust, and of course you need to deliver good results.