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Freelance & Outsourcing Industry: Difference between revisions
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==Freelacing Supply== | ==Freelacing Supply== | ||
== Freelancers VS Full Time Employees == | |||
=== Software Developer Cost Differences<ref>https://arc.dev/employer-blog/software-developer-freelance-vs-full-time-costs/</ref> === | |||
Could be significantly cheaper to hire freelance developers.Discount of u'''p to almost 50%''' by hiring freelancers instead of full-time employees. | |||
The annual salary for hiring freelancers at an hourly rate of $60 – $100 will result in $107,400 – $179,000. While the base salary of full time employee could be about $112k | |||
However direct and indirect cost of full time employees makes up the difference, these cost could increase full time employee cost to almost 200k. | |||
* Legally required benefits (Social Security, Medicare, unemployment insurance): '''8.5%''' | |||
* Insurance (medical, dental, life): '''7.6%''' | |||
* Paid Leave: '''6.7%''' | |||
* Retirement and savings: '''4.3%''' | |||
* Annual Bonus: '''3.5%''' | |||
* Supplemental pay (overtime and premium): '''2.6%''' | |||
* Employment training tax: '''0.1% on first $7,000''' | |||
* Overhead and G&A: average of '''25% and 18%''' | |||
== References == | |||
<references /> | <references /> | ||