Pay for business plan writer? (how much, home, employment)

[hotrodsgirl]

I am hiring a young lady fresh out of college with her masters in business. She has only written one plan and had the assistance of three fellow students in doing so. She interviewed well but i have no idea what to pay her. She will be working from home and in our offices about 3 days a week. Any suggestions on how we should pay her?

[sowk09]

I hate when employers do this, but you could always ask for her salary requirements. This puts her on the spot for what she's expecting, and then you can decide if you are willing to pay that or if you need to negotiate her down some. Hopefully others can offer you an idea of a pay range if you don't want to do that.

[lovebrentwood]

I think that's an awful thing to do -- to ask the applicant how much she wants. If it's too high, she will miss out on the opportunity, and if it's too low, you can take advantage of her. Continue to research what you'll pay her and offer it to her. Then you can begin negotiating if needed.

Why don't you hire someone with more experience?

Originally Posted by sowk09

I hate when employers do this, but you could always ask for her salary requirements. This puts her on the spot for what she's expecting, and then you can decide if you are willing to pay that or if you need to negotiate her down some. Hopefully others can offer you an idea of a pay range if you don't want to do that.

[didee]

Are you paying her for a scope of work or per hour? What are her specific duties? Write a business plan? Or also type your correspondence, answer phones, clerical/admin tasks, etc. I assume you are hiring her directly vs through a contract agency, right?

[annesg]

I am an experienced professional writer, and these things are expensive when done well and done right. I hope someone fresh out of school can do the job for you--and with a Business degree. Not that there's ANYTHING wrong with that but I have English degrees (3 of em) and have a bias toward that

Usually it's not an hourly project, and it can be broken up in phases: for example, she can submit an invoice at completion of research, one upon submitting a first draft, and one when the job is done. It is usually a 40-80 hour job, if that helps. $2-3k is not unreasonable but that's for someone with some experience. Many will charge more. If you want to pay her hourly and have her log her hours, you could offer her $15-20/hour perhaps.

In the end you should have a well-researched, accurately cited, thorough document that is professionally prepared, printed, and bound with relevant charts, graphs, and other information in full color where appropriate.

[CYB]

Originally Posted by lovebrentwood

I think that's an awful thing to do -- to ask the applicant how much she wants. If it's too high, she will miss out on the opportunity, and if it's too low, you can take advantage of her. Continue to research what you'll pay her and offer it to her. Then you can begin negotiating if needed.

Why don't you hire someone with more experience?

Are you saying that a prospective employer shouldn't ask your salary requirements?

[UNC81]

Originally Posted by lovebrentwood

I think that's an awful thing to do -- to ask the applicant how much she wants. If it's too high, she will miss out on the opportunity, and if it's too low, you can take advantage of her. Continue to research what you'll pay her and offer it to her. Then you can begin negotiating if needed.

Why don't you hire someone with more experience?

There's nothing wrong with asking how much she wants. That's how business works.

The hiring process is just a negotiation, simple as that. Generally, the first person to name a number loses. Why should a business pay more than the prospective employee wants?

[lovebrentwood]

I never, ever, am the first to say what I'm looking for. When the time is right, I am the first one to ask what the "range" is. The negotiation starts when they make the decision to hire me.

For a business, it's NOT a good practice to offer an employee "what he or she wants" -- without worrying about anything else.

Thinking, "Oh, she only wants $20 an hour, good!" isn't good if you have other employees with similar education and experience who are making more than that.

That sets you up, as an employer, in a situation where that employee may later sue you for gender/age/etc discrimination -- and she'll win. Or if that new person is getting more money than existing employees, the other employees can sue you.

Believe me, you don't want to have an employee who is even thinking about suing you. He or she has to do very little to start the process, and you have to spend a lot of time and resources ($$$$$) to address a lawsuit or potential lawsuit.

That's how business works.

Originally Posted by UNC81

There's nothing wrong with asking how much she wants. That's how business works.

The hiring process is just a negotiation, simple as that. Generally, the first person to name a number loses. Why should a business pay more than the prospective employee wants?

[StoneOne]

Originally Posted by lovebrentwood

I never, ever, am the first to say what I'm looking for. When the time is right, I am the first one to ask what the "range" is. The negotiation starts when they make the decision to hire me.

For a business, it's NOT a good practice to offer an employee "what he or she wants" -- without worrying about anything else.

Thinking, "Oh, she only wants $20 an hour, good!" isn't good if you have other employees with similar education and experience who are making more than that.

That sets you up, as an employer, in a situation where that employee may later sue you for gender/age/etc discrimination -- and she'll win. Or if that new person is getting more money than existing employees, the other employees can sue you.

Believe me, you don't want to have an employee who is even thinking about suing you. He or she has to do very little to start the process, and you have to spend a lot of time and resources ($$$$$) to address a lawsuit or potential lawsuit.

That's how business works.

Hiring someone to write a business plan should never involve an employment agreement in the first place.

You are right about the litigious nature of our society when it comes to the work place, which is why as a business owner I will do everything possible to avoid ever having to offer employment to anyone. Generally, I can satisfy my needs by using other companies - or freelancers located outside the United States.

At any rate, cost is obviously one of the first things I would consider when deciding to use anyone's services (which is essentially what employment is). I don't know a single business owner who does things differently. In this context, your comment "The negotiation starts when they make the decision to hire me" seems like wishful thinking...

[lovebrentwood]

Not involve an employment agreement?

Are you serious?

Originally Posted by StoneOne

Hiring someone to write a business plan should never involve an employment agreement in the first place.

You are right about the litigious nature of our society when it comes to the work place, which is why as a business owner I will do everything possible to avoid ever having to offer employment to anyone. Generally, I can satisfy my needs by using other companies - or freelancers located outside the United States.