What rate to quote my nephew at?

[easymon1]

I want to / need to / have little option but to hire my nephew to work on the software I'll be using as a registered investment advisory LLC operating within EU at the moment but wink wink, US is on the map. He's second year in the same University I studied.

I started on 5 LC (local currency) per hour as take home amount and seemed like something out of this /my world since most full time public-sector employed chicks I'd be talking with were making half of that. I now make 100 LC per hour, btw.

$68.70 per hour as take home amount

I started on 5 LC (local currency) per hour as take home amount and seemed like something out of this /my world since most full time public-sector employed chicks I'd be talking with were making half of that. I now make 100 LC per hour, btw.

2x LC "most full time public-sector employed chicks I'd be talking with" per hour as take home amount would equate to what you were pullling down.
Adjust accordingly in consideration of comparable skills, effort, results.

Aug 22, 2021 ... The median household income in the US in 2019 was $68,703.

Divide $68,703 by 2000 hours = 34.35/ hr. Double that "2x LC" gives you the amount of $68.70 per hour in order to equal what you were paid back in the day. What goes around comes around, lol.

 

[Aquarians]

The median household income in the US in 2019 was $68,703.

Get it now. Not much related except I alone am the "median household income in the US" here so my wife can afford to "I don't need to take this":

 

[easymon1]

Get it now. Not much related except I alone am the "median household income in the US" here so my wife can afford to "I don't need to take this":

Face it, $68.70 per hour as take home amount.

 

[rb7]

Dunno where you pulled your 1.25 from.

Well, if LC/USD = 4, then 5 LC = 1.25$ USD.
Ask your brother (the math guy)!

 

[Aquarians]

Well, if LC/USD = 4, then 5 LC = 1.25$ USD.
Ask your brother (the math guy)!

5 LC was 2001. $200 for a whole month, 12 - 16 hour workday.

Now he's free to get €240,000 per year if he's capable. In the meantime I'll teach him how to do that and give him $100 for what he understands. If he gets all I learned in 15 years in just one hour, I'll double it to $200. But I have a feeling it's not the case. So $100 divided by whatever he wants, that's the hourly rate.

 

[easymon1]

5 LC was 2001. $200 for a whole month, 12 - 16 hour workday.

Now he's free to get €240,000 per year if he's capable. In the meantime I'll teach him how to do that and give him $100 for what he understands. If he gets all I learned in 15 years in just one hour, I'll double it to $200. But I have a feeling it's not the case. So $100 divided by whatever he wants, that's the hourly rate.

 

[traider]

I'm a programmer making 100 LC / hour using 50% - 99% of my brain capacity depending on when I get a break of luck or not. By definition you can't use more than 100% and by experience using more than 50% on a regular basis is gonna kill you worse than cancer does. My brother is a high school teacher making 30 LC / hour using 1% in his high demanding days.

You make so much more money and have a challenging job. You are the envy of billions.

 

[JSOP]

What rate to quote my nephew at?

-The going market rate that is commensurate with his knowledge and experience and etc. Shouldn't be different just because he is your nephew.

 

[Gilbertlycle]

Absolutely with you it agree. In it something is also to me this idea is pleasant, I completely with you agree.

 

[Aquarians]

I feel generous today so I'm raising that to €100.

It's a net loss for me, you're aware of it, right? It's not like I'm hiring Bjarne Stroustrup.

At this point, all the investment into a guy I can afford is net negative on my side. I have to teach them a bazillion things they don't know, including the most basic ridiculous ones. That's time, time and more time on my side, time which is already a very scarce resource between job, family and trying to boost my own side business.