New independent contracting questions

[CandyceRN]

Hello everyone!

I just have been offered a postion as an independent contractor for a school district working with a school nurse. I will be working as an RN providing vision, hearing screenings and health assessments.

I had previously worked for the district several years ago at a houly wage of $23.40. I also had health insurance, retirement and 10 sick days per year.

I have so many questions but especially would like anyones input into what would be a good salary since I won't have the benefits now. I have read that you should get 30-40% more as an independent contractor.

Any help would be appreciated. Thanks.:)

[indie]

CandyceRN:

Congratulations on landing an independent RN contract, although I presume the contract is really dependent on agreeing the pay rate.

Will you be bidding competitively for this contract? If you are you'll need to do a lot of homework.

If not, just work out exactly what it will 'cost' you to do this - I see you mentioned some items, but what about vacation, malpractice insurance, possibly setting yourself up as some sort of business. Can you handle your own taxes? Will you need a lawyer?

Do you know what an agency would charge to put someone in this position? As you state, the 'cost' of employing someone is around 150% the salary, but you will have expenses beyond those of a company employing you. What do current employees earn per hour. Are you per diem, or are you truly guaranteed a certain number of hours?

If you don't know how much you actually need to get, your best option is to try and get a discussion meeting on pay. I'd go in asking for approx $50-$60 per hour. This will get raised eyebrows, but if you have your 'costs' mapped out, you may be able to get it.

But sell your value added service to them, what you are offering, not just asking for the pay etc.

Know before you go to this meeting what you could earn elsewhere and how low you would go to secure this position. Negotiated calmly from your strengths - practice beforehand.

Useful resources are independentRN.com - but needs membership; sba.gov for small business basic info and the Nurses Business web site/membership - sorry, I forget the actual address.

Good Luck, let's know how you do. PS I've been independent on and off for ten plus years.

[CandyceRN]

Thanks Indie for your reply. You've given me so much to think about. Thanks also for the resources. I'm just in the beginning process so it will be a learning experience. I'm trying to educate myself as much as I can before hand and come up with a realistic salary.

We'll see what happens! I'll keep you posted.