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Saturday, September 26, 2009

Rate of pay

We are used to thinking of monthly salary. This is a legacy of the old world, where most people expect to work full time (i.e. 8 hours a day) and for a lifetime career.

In today's environment, we should think about flexible work. It is more appropriate to think about an hourly rate. This allows people to work on certain days (and for varying hours in a day (according to their personal schedule). It is especially suitable for students or adults pursuing further study.

The place of work can also be made flexible. Many people now find it convenient to work from their home. The hourly rate of pay can be converted into a project for a fixed payment. The time taken to complete a project can be estimated, and the hourly rate of pay can be applied to get the project fee.

I am creating a new job portal, and have decided to use the hourly rate as the basis of searching for a job. I use a conversion rate of 160 for hourly rate to monthly salary. For example, an hourly rate of $10 is the same as a monthly salary of $1,600.

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