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 Talk about a rip-off!

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TouringBubble

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PostSubject: Talk about a rip-off!   Thu Feb 21, 2008 5:52 pm

Guys, I just did a little math a realized that my contract company charges more than 36% over what I make! I mean, come on ... I understand how these companies work and they have to make some money ... but 36%? that is just insane!

All they offer is a super expensive insurance plan with a no-name provider and 401K with no matching ...

I'm just thinking of the bills I could pay off with that cash ... they are honestly making more than my wife's salary off of me.

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bomjoon
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PostSubject: Re: Talk about a rip-off!   Thu Feb 21, 2008 6:03 pm

jeez you should complain about gold price mark ups...

they buy for 1/4 of the price. and you pay 300% if not 400% marked up price.
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sabastian458



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PostSubject: Re: Talk about a rip-off!   Thu Feb 21, 2008 6:23 pm

Explain farther please.
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TouringBubble

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PostSubject: Re: Talk about a rip-off!   Thu Feb 21, 2008 6:35 pm

I assume you want ME to explain more and not Joey ...

I work through an agency. So, I'm technically a full time employee of that agency and they contract out my services to other companies (currently Southern Nuclear). They charge a price on top of what I actually make for their "services."

So, if my contract says they'll pay me X per hour, the company I'm working for gets a bill for X+36% per hour and I get X per hour in my paycheck.

Also, I get time and a half for overtime as well, which they also charge 36% on top of ... so they get (X*1.5)+36%.

If ou want to do the math, they make $12 for every hour I work.

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sabastian458



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PostSubject: Re: Talk about a rip-off!   Thu Feb 21, 2008 10:18 pm

ah thats more clear. we have had employees hired similarly.
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JWRICH4



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PostSubject: Re: Talk about a rip-off!   Thu Feb 21, 2008 11:58 pm

As a General Dynamics employee I worked on a CLIN of 300K per person, I received 92K. There were 43 of us on that contract, you do the math....

Years ago I worked for a Yamaha dealer in Baytown TX, I was inventoring a shipment of accessories and wondered what to price them. The owner told me take cost and multiply by 1.44 to cover overhead or to put it another way, he priced everything at 44% over cost.
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sabastian458



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PostSubject: Re: Talk about a rip-off!   Fri Feb 22, 2008 9:51 am

44% is cheap mark up. A dealer has to make 25% to break even.
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