Considering an opportunity for a 6 month contract with health benefits included. Any guidance from the group on a fair market rate?
Here is how I would think about this. You are basically going to work for the company for six months and taking on more work (because you have some administrative overhead) and risk than if you were working for them full time. You also have fewer benefits.
But before you get to considering what the percent increase should be due to that, you need to understand what the fair market rate would be if you worked for them full time.
And that would be based on a number of variables including:
- The size of company
- The location of the company
- How long they have been trying to fill this role
- How much they pay other PMs if they have them
- Your location
- The size of the product
- The size of the product team
- Your experience
You also need to factor in how interested you are in the role.
So, it is very hard to provide specific guidance without understanding the above. That is why I provided a framework for you to apply against this product management opportunity vs just giving you a very broad contract rate range.
If you want to check out an article on PM salaries you might consider the following Product Management Guide post.
Anyway, I hope my answer is helpful.