Compensation & Remote Work vs Compensation & In Office Work
Episode description
What we talked about on this episode:
This episode was inspired by a TT video I saw where someone shared their remote compensation, hybrid comp, and in-office comp expectations.
It was said they ask for $20k more for in-office jobs and the person dueting it seemed shocked.
My response was good for them BUT that’s it?
Let’s talk about it.
Should you have different compensation expectations for a remote job vs a job you would be required to go into the office?
For simple math.
Let’s say your hourly rate is $40/hour.
Your commute:
1 hour per day, 30 minutes each way.
$40 x 5 x 50 weeks per year
= $10,000
15 miles each way, so that’s 30 miles per day round trip.
30 x 5 x 50 = 7500 miles you’re putting on your car each year.
The federal mileage rate right now is $.67/mile and at 7,500 miles we are looking at:
$5,025
Time and mileage just for your commute is now at:
$15,025 per year
Food:
Buy lunch 2x a week and bring lunch 3x a week
$10, which is conservative for a meal these days
$10 x 2 per week x 50 weeks per year
=1,000 extra on food
Between commute and food, we are now at $16,025
Clothes:
Unless you can wear the same shit you can at home, in the office, you have to account for additional clothing expenses.
Let’s say $2,000 a year on the lowest end.
Now we are at $18,025 just in expenses for commute, food, and clothing.
We haven’t factored anything in for the inconvenience. These are simply expenses.
Truly, do the math.
What makes sense?
Hybrid = I’d do 75% of whatever the in-office number you come to is.
If companies are hell-bent on getting people back into the office, awesome, compensate accordingly.
Thank you for taking the time to listen, watch, and be here! I appreciate you!
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