A friend of mine works for a US tech company that hires a decent number of Canadian software engineers. They make about 60% of what the US based software engineers make. For that reason, it's not uncommon for the Canadian engineers to move to the US to make more money at the same company for doing the exact same job. Similarly, as a 1099, you can switch contracts, maybe even at the same government agency, do essentially the same job, and get a dramatic rate increase. This is possible because government contracting is not an efficient marketplace. There is lots of variation in pay for different skill sets. Some times it's a time thing. Contracts that last for five or more years are baselined on lower bill rates. A 2015 contract may pay a data analyst $100/hour. A 2020 contract may pay $120/hour. A 2024 contract may pay $150/hour. If you join the newer contract, you can get a pay bump. Some times it's a contract structure that allows you to increase your rate. I once had a firm fixed price contract that was priced out at $130/hour for a full time person. However, I did the job in a third of the time, making my effective rate something closer to $400/hour. I also jumped to a contract that was a cost + fee structure for the prime. This means they didn't have set bill rates for different positions, they just had to manage to the overall budget. They were desperate for someone with my skill set so I could set a higher price. So you don't always need to up skill to get paid more. Some times the same skills in a different environment can get you a dramatic pay bump. If you're interested in learning how to get your first solo 1099 federal sub-contract, check out my book: |
Going 1099 is a book that teaches you how to become a solo federal sub-contractor and gain control of your working life, earn more money and unlock more free time. I wrote it because quite a few people have asked me how they can become a 1099. I figured it was best to write a single book that I can send them and that I can share with others who are interested. This newsletter goes out Monday - Friday and covers topics that will help you succeed in starting and maintaining successful 1099 career.
Halt and Catch Fire @HaltAMC The realization. #HaltAndCatchFire 1:0 PM • Oct 19, 2017 79 Retweets 360 Likes Read 17 replies When I first went 1099, I applied to grad school thinking I'd use the extra money I would save to fund my living expenses if I got in. Well, I never got into grad school, and then I ended up doing the 1099 thing for a long time. The thing is, my goal was to never become a 1099 for its own sake. It was to buy myself more time and resources to go to grad school and do what...
Most days for me My company was recently awarded a contract on the GSA Multiple Award Schedule (MAS). Now, this doesn't mean I actually won any work. It just means that if the government wants to do business with me, they can use the MAS as the administrative vehicle. There are two ways I can get work now using MAS: I can bid on stuff on GSA eBUY, where government agencies put out RFPs specifically for GSA MAS contract holders I can persuade government agencies directly to do business with me...
At least this guy is honest!Source When you're a solo 1099, you don't have to do any recruiting. You just have to find projects for yourself. When you try to grow a government contracting business, you will have to recruit people. It's tough! It's particularly tough in the early stages. Here's why: You don't have recruiting processes in place. You are probably reliant on your personal network, which will run out eventually It takes a lot of time. Reading resumes, meeting people, interviewing...