[kwlug-disc] consulting fees

[Khalid Baheyeldin]

The majority of my clients are outside Canada, so I get wire transfers
often.

Incoming wire fees will be around $37.50 or less. Some countries are
higher.

Also, the USD is higher than the CAD for the time being. But if it shifts
the other way (and it did for many years) you eat up the difference.

Banks offer different US chequing accounts. Some give you lower fees or
flat per-transaction fee, others have preferred transfer rates. You can get
your bank to open a US chequing account, and change the type when you want
to transfer funds, then change it back. This works only if you have a
buffer of CAD to weather the USD/CAD fluctuations. I strongly advise that
though, since you can make up 5% more in currency difference if you wait
for 8 or 10 months rather than do it monthly at whatever rate is in effect.

I had it both ways, and the buffer method (if funds are available) is much
better.


On Fri, Feb 23, 2018 at 11:24 AM, Dave Cramer <davecramer at gmail.com> wrote:

>
>
> Dave Cramer
>
> On 23 February 2018 at 11:19, Khalid Baheyeldin <kb at 2bits.com> wrote:
>
>> Doug!
>>
>> Congratulations ...
>>
>> This is fantastic. You now experience the ecstasy of turning a hobby open
>> source project into a job. Thrilling and rewarding.
>>
>> Regarding the rate you should ask for, it depends on the length of the
>> contract. The shorter it is, the higher your hourly rate.
>>
>> If it is 6 months or less, then use your current hourly equivalent at
>> your day job, and multiply by 1.5X in USD as a starting point for
>> negotiations. This compensates for the lack of benefits, pension, EI,
>> ....etc.
>>
>> Hope it works out as you want it to ...
>>
>
>
> IMO NY rates would at a minimum be 150 USD/hour. Don't forget that if they
> are wiring money into your account there will be a wire fee on your end.
>
> Good luck
>
>


-- 
Khalid M. Baheyeldin
2bits.com, Inc.
Fast Reliable Drupal
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