How you approach looking for that first assignment depends on the order you would ask the following questions.
Where will I go?
How much will I make?
What kind of benefits do you have?
First of all, let me say this. How much money you bring home is going to be directly related to how many of the benefits that you partake of, and where you want to go. Insurance is expensive, whether you get your own, or you let them provide it, it’s going to cost you. If you have a spouse that can add you to your insurance, then do it. You’ll make more money and won’t have to worry about changing your coverage every time you change companies. If you don’t have a spouse who can provide your health insurance, and you have a medical history that will allow you to purchase health insurance of your own, then I recommend doing just that. You don’t have to worry about any lapses in coverage between assignments or meeting pre-existing condition clauses over and over. If you can’t get coverage of your own, and will need the company to provide it, then you need to have any company that you’re considering traveling for send you information on their coverage. If you have a major medical condition that you need to be covered for, and they offer a plan that has a pre-existing condition clause that precludes coverage for a year, then you may spend your entire 13 week assignment paying for coverage that you can’t use. At the end of your assignment, if you change companies, you’ll have to start all over again. So even though you’d be covered against something new or catastrophic, you might lack the coverage you need for your existing problems. Also, some company’s insurance coverage doesn’t kick in for 90 days, convenient if your contract is for exactly those 90 days.
So if your first question is going to be about the insurance coverage, then you’re going to have a little more research to do than someone that doesn’t need company provided coverage. Don’t let someone tell you in a casual phone conversation about their coverage. Make them send you information about the plan that you can compare to other company’s plans. Read the fine print and make sure you’re not giving up 1 to 4 dollars an hour for something that you’ll never even qualify to use.
There is no doubt about the fact that very big travel companies will offer you the best insurance plans, but they will also pay you the lowest hourly rate. Just remember that if you need to use the insurance during your assignment, that lower rate may end up saving you a fortune. It’s important to take care of yourself, so don’t risk settling for coverage that may not protect you as you’re traveling.
If the fist question you’re going to ask is about where you’re going, then you’re lucky. This means that you’re in a position to make finding someplace new and exciting a priority, and puts you in a good bargaining position. If going to the beach in Florida
is more important to you than insurance, 401K, or a couple of dollars more an hour, then I envy you. Decide where you want to go, and market yourself to companies that have positions available there. (I’ll tell you later just how to find them).
If how much money you’re going to make is the first and foremost thought in your mind, then you’re in a pretty good bargaining position as well. Don’t be surprised at the wide range of rate offers that you’re going to run into. There are a lot of variables that a company has to include in their rate, and each one will be different. The size of the company, their overhead, their profit margin, and whether or not they are sub contracting will all play a part. Believe me, it’s not unusual to find two different companies marketing the same travel assignment and be 7 to 10 dollars an hour apart. Be honest, let them know right up front that money is number one, and housing, benefits, and perks come in a distant second. Most companies will quote you one rate for including all their benefits, but tell them you want to know the rate if you don’t take their insurance. When you get that rate, ask them how much more you can get if you don’t take the rental car, and drive your own. When you get that rate, ask them what the rate is if you share housing (if you’re willing) Don’t just ask for the rate if you don’t take any of their benefits and perks, get them to break down each one into an hourly amount and then decide what you want to pay for and what you don’t.
You also have to make sure that you know what kind of rate they are giving you. Some companies will quote you “blended” rates. Basically that means they’re tanking you regular rate, and any scheduled over time rate, and averaging them. Make them break that rate down for you into a base rate and an overtime rate, so that you can compare it to other offers. Also, if you don’t understand what a tax advantage rate is, you need to. Believe it or not, someone paying $35 an hour with a tax advantage split will increase your take home pay over someone paying $37 an hour with no tax advantage split. Read my post on how the tax advantage works if you need to. Better yet, just get your calculator out and figure it yourself. You’ll be surprised at how much it affects what you bring home. But you need to know how it impacts your tax filing as well.
There are things you can do to increase your rate. Traveling with a friend and sharing housing is a big one. One takes the housing, one takes the stipend and you split it. You can increase you take home by as much $400 to $1000 a month by sharing housing. Take your own car instead of having them provide a rental. Rental cars can cost up to $900 a month in some areas and most companies will give some of that back to you in your rate if you they offer it and you don’t take it. Find your own housing and take the stipend. You will almost always be able to find housing at your assignment that costs less than the stipend they will offer. Just remember, if you’re finding your own, it will be in YOUR name. That means that every time you change locations, there will be credit checks and contracts, utilities and furniture rentals that you have to deal with. Still, the company doesn’t like dealing with all this either, so offering to find your won can put at least a few hundred dollars a month in your pocket.
You have to determine what is important to you in an assignment, and prioritize those needs so that when you start talking to recruiters you can convey to them what’s important to you, what you MUST get, and what you’re willing to negotiate on. Believe me, the first offer you get, is never the best they can offer. Don’t be afraid to ask for more. If they think you’re serious about taking a position, they’ll want to get you on their team. That’s how they make money.
Recent Comments