I've been offered a part-time involvement in an Internet project for an already established and growing business. The task involves creating a company portal (using Rails) and then working on its promotion and development (including search engine optimization, CPC, split testing, and so on). Though I'm confident in my ability to deliver good results, I have never worked for someone as a developer before.
There are no fixed deadlines or set tasks for every day/every other day. The people involved in the project are knowledgeable in their own professional field, but they don't know much about IT. Hence, they need a "web-tech" expert to help in their business's development. I would be expected to work part-time for about 3 hours a day after launching the site (more before that, of course). It's probably worth mentioning that I also have a permanent job that requires 3-4 hours of my time each day.
How can I accurately determine my honest salary so that neither I nor the employer feels cheated? Are there any benchmarks that I can use? How do others determine their professional worth before embarking on a project?
Is it possible to put a monetary value on a person's actions? Some individuals with high salaries may contribute little, while others hesitate to equate their worth with dollars for fear of overestimating or feeling disillusioned with the world.
However, a person's worth cannot be measured in terms of monetary value; we essentially sell ourselves by mutual agreement. The price we agree upon for our services is determined by the demand in the market, and it may vary depending on the task at hand.
Individuals who possess arrogance and a sense of self-importance are lucky in that they will demand recognition and constantly seek new opportunities. Whereas, in the programming industry, developers often feel that their work speaks for itself, and they believe in perfecting their craft. Although an ego may not be necessary to excel in this field, it is still important to recognize your worth and demand a fair price.
It's important to establish the minimum rate that works for you and stick to it. If you're able to negotiate a higher rate, consider it a bonus!
Always avoid working for less than what you're comfortable with. In doing so, your productivity and sense of responsibility could suffer, leading to frustration and burnout. While it may seem like a cost-cutting strategy in the short-term, undervaluing your work can actually result in bigger expenses down the road - such as having to replace a burnt-out employee.
Determining your salary for a part-time involvement in an Internet project can be challenging, especially when you haven't worked as a developer for someone before. However, there are several factors you can consider to help you determine your professional worth:
1. Market Rates: Research the going rates for web developers with similar skill sets and experience levels in your area or within the industry. This will give you a benchmark to gauge your own value.
2. Project Complexity: Consider the complexity of the company portal and the tasks involved in its promotion and development. More complex projects often require more expertise and time commitment, which can impact your salary expectations.
3. Time Commitment: Assess the number of hours you would be working on the project each day, along with your existing permanent job. Factor in the perceived value of your time, additional workload, and the flexibility you're offering to the employer.
4. Industry Norms: Take into account any industry-specific standards or practices that might influence the compensation. For example, certain technologies or skills could command higher pay rates.
5. Value Proposition: Evaluate the potential value you bring to the business's development. Consider the impact your work will have on their growth, revenue, customer acquisition, or overall success. A higher value proposition can justify negotiating a higher salary.
It's also important to have open and honest communication with the employer. Discuss your expectations and ask about their budget for the role. This will help ensure that both parties have aligned expectations and can negotiate a fair compensation package.
In addition to the factors mentioned earlier, here are a few more considerations when determining your salary for a part-time involvement in an Internet project:
1. Your Skill Set: Assess the level of expertise and specialized skills you bring to the table. If you possess unique knowledge or have experience in specific technologies or tools relevant to the project, it may justify a higher salary.
2. Contribution to Business Growth: Think about the potential impact of your work on the company's growth and success. If you believe your contributions can significantly improve their online presence, increase visibility, and drive more traffic or conversions, it may warrant a higher salary.
3. Longevity of the Project: Consider how long you expect to be involved in the project. If it's a short-term commitment with a defined end date, the salary negotiation might differ compared to a long-term arrangement.
4. Cost of Living: Take into account the cost of living in your area. Salaries can vary based on geographic location, so understanding the local market rates is crucial.
5. Benefits and Perks: Consider not only the hourly rate or monthly salary but also any additional benefits or perks that may be available, such as flexible working hours, remote work options, or potential for growth within the company. These elements contribute to your overall compensation package.
6. Negotiation: Don't be afraid to negotiate. If you have done your research and feel confident in your value, it's acceptable to engage in salary negotiations. Be prepared to articulate why you believe you deserve a certain salary and provide evidence to support your case.