Contractor vs. Full-Time: How to Calculate Your True Hourly Rate

Are you thinking about switching to contract work or wondering how much you should charge as a contractor? In this video, I break down how to calculate your contractor rate compared to a full-time salary. Here I have analyze different scenarios, considering taxes, benefits, job security, and hidden costs.
🔹 What You’ll Learn:
✅ How to convert a salary into an equivalent contractor rate
✅ The hidden costs of being a contractor vs. an employee
✅ Benefits and tax considerations for both options
✅ Step-by-step calculation and real-world scenarios
📊 Useful Resources:
📄 Downloadable Salary vs. Contractor Comparison Sheet: Please drop me an email to get the excel sheet.
Please subscribe to the channel bit.ly/3oaNmOC
Video Editing tool I Use:bit.ly/35kfqL4
Photo Editing tool I Use:bit.ly/45H4Ubg
Camera :bit.ly/43zrUHy
I have been documenting my journey on my website where you can find really useful resources.canadatriedand...
► Try Wealthsimple Tax this season and get $10 for FREE- bit.ly/3hoIy6n
►Questrade - bit.ly/3tkVgZH
☕Enjoyed the Video - Buy Me A Coffee? www.buymeacoff....
Socials:
Instagram: / canadatried. .
TikTok: tiktok.com/@canadatriedandtested
✔ Don’t Forget to Subscribe Here: bit.ly/3oaNmOC
✔ Follow me on Twitter: / canadatriedandtested
****** Recommended Reading List:
Unshakeable :Your Financial Freedom Playbook amzn.to/3JZmwDA
Millionaire Teacher amzn.to/3holNzB
The Richest Man In Babylon amzn.to/3pnVGNA
Rich Dad amzn.to/3Mb9Xqw
The Intelligent Investor amzn.to/3tc988w
CRA TFSA information bit.ly/2HYycaY
ETF definition and difference between ETF & Mutual funds: www.investoped...
Links to investing information:
www.tsx.com/
ca.finance.yah...
www.fundlibrar...
Hope you find this video valuable. do check the website too.
Watch Next:
▶Incorporation in Canada bit.ly/3K2QiY9
"Disclaimers: This channel is for educational purposes only, and the opinions expressed in this video are based on personal research and should be treated as such. These are not instructions, suggestions, nor directions on how to handle your money. The facts and figures presented in this video are up-to-date based on the recording. They may have changed based on when you watch the video. Please always do your own due diligence!"
This video description contains affiliate links, meaning that if you click on a product link, I may receive a commission at no additional cost to you. I do not promote products, services or companies I have not personally used or those which I do not recommend. All opinions are my own.
Don't Forget To Subscribe ▶bit.ly/3oaNmOC
Website : canadatriedand...
👍 If you found this video helpful, don’t forget to LIKE, SUBSCRIBE, and hit the 🔔 BELL for more career & finance tips!
#ContractorVsEmployee #FreelanceVsFullTime #SalaryVsContract #ContractorRate #CareerTips #Freelancing #FinanceTips #SalaryComparison