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Labor costs for a $8 an hour job wouldn't equal $37K. It would be around $21K with employer paid taxes, workers comp for an office job, and some minimal benefits.
It was $10/hr, add Employer FICA and 401k, Unemployment, Workers Comp, Life Insurance, plus Health Insurance (family >15k, single <15k, national average), and that is $37k. On average at my last 3 employers - all Fortune 500s, headcount related benefits exceeded 15k for the employer..average. Family insured costs us around 20k/head for all the non gross pay stuff, singles around 9k, and couples w/o kids about 15k.
So its simply 20k + (11% 20k for FICA 401K) plus 15k.
Why are you arguing with annerk? I almost fell of my chair when I read that angel investors and venture capitalists are part of easy and bountiful sources of start up capital. I am surprised nobody challenged her on that. It turns out her knowledge of the matter is inferior to a simple wikipedia page.
Venture Capitalists/Angel investors don't deal with "small potatoes", they deal with enterprises that have a potential to grow big and grow fast. That means if I wanted to open an ace hardware store, they would laugh me out of the room. You need to have a clear pathway to millions quick. Not only do they have to like your idea, its feasibility, they have to like YOU as a person running the show. That means they could say "yes, we like your idea but we want someone else in charge". Angel investors are not called such because they like to help people around the country achieve their dreams, they want to make a lot of money quickly.
Annerk is a person with a confused political/economic framework. She hates the unions but hates walmart too and wants it gone. Walmart has done all it can to damage the unions.
I just can't stand people who think they know it all and don't know anything.
The problem is those same folks have such a huge ego that they insist on having the last word, even when they're wrong.
Why are you arguing with annerk? I almost fell of my chair when I read that angel investors and venture capitalists are part of easy and bountiful sources of start up capital. I am surprised nobody challenged her on that. It turns out her knowledge of the matter is inferior to a simple wikipedia page.
Venture Capitalists/Angel investors don't deal with "small potatoes", they deal with enterprises that have a potential to grow big and grow fast. That means if I wanted to open an ace hardware store, they would laugh me out of the room. You need to have a clear pathway to millions quick. Not only do they have to like your idea, its feasibility, they have to like YOU as a person running the show. That means they could say "yes, we like your idea but we want someone else in charge". Angel investors are not called such because they like to help people around the country achieve their dreams, they want to make a lot of money quickly.
Annerk is a person with a confused political/economic framework. She hates the unions but hates walmart too and wants it gone. Walmart has done all it can to damage the unions.
Actually I personally know of several venture capitalists who specialize in small start ups. I used to work for one of them. He provided seed money to two others who bought a floundering company. Watched for five years as it flourished under new management, then sold his 49% share to another entity and walked away. He's done this over and over. And yes, they want to make money quickly, don't we all? it's no different than a recent grad who borrowed $10K from his parents to open a restaurant--he had no restaurant experience at all. He now has probably 30 locations in under 20 years. His parents acted as investment angels.
It was $10/hr, add Employer FICA and 401k, Unemployment, Workers Comp, Life Insurance, plus Health Insurance (family >15k, single <15k, national average), and that is $37k. On average at my last 3 employers - all Fortune 500s, headcount related benefits exceeded 15k for the employer..average. Family insured costs us around 20k/head for all the non gross pay stuff, singles around 9k, and couples w/o kids about 15k.
So its simply 20k + (11% 20k for FICA 401K) plus 15k.
I was talking about an $8 an hour receptionist in a start up--no benefits, no insurance except w/c, maybe a paid week of vacation. No way that equals $37K.
I was talking about an $8 an hour receptionist in a start up--no benefits, no insurance except w/c, maybe a paid week of vacation. No way that equals $37K.
No benes cost little above gross pay. There is employer FICA, unemployment insurance, and Workers comp.
But, if the economy ever rebounds, good luck filling it long-term w/o benefits.
Actually I personally know of several venture capitalists who specialize in small start ups. I used to work for one of them. He provided seed money to two others who bought a floundering company. Watched for five years as it flourished under new management, then sold his 49% share to another entity and walked away. He's done this over and over. And yes, they want to make money quickly, don't we all? it's no different than a recent grad who borrowed $10K from his parents to open a restaurant--he had no restaurant experience at all. He now has probably 30 locations in under 20 years. His parents acted as investment angels.
Again, you are trying to spin out of a situation with your fairy tales. Venture capitalists/angel investors never have been and never will be easy and abundant sources of cash for ANYONE ever. One of those days you are going to tell me you worked for Ronald Reagan. Any limit to your fabrications?
Again, you are trying to spin out of a situation with your fairy tales. Venture capitalists/angel investors never have been and never will be easy and abundant sources of cash for ANYONE ever. One of those days you are going to tell me you worked for Ronald Reagan. Any limit to your fabrications?
Didn't work for Reagan. Nothing fabricated. Just because YOU don't know any venture capitalists, doesn't mean others don't. Another provincial one.
There will always be someone willing to work without benefits. A retiree for example.
Perhaps, but in a good economy, the pool of desirables shrinks, as those working now w/o benefits, can advance to a position with benefits. That leaves mainly retirees, kids,or folks rejected by the employers with benefits.
Perhaps, but in a good economy, the pool of desirables shrinks, as those working now w/o benefits, can advance to a position with benefits. That leaves mainly retirees, kids,or folks rejected by the employers with benefits.
In this area, there are a lot of retirees who want to work, but don't want to have much responsibility. The job I described--answering phones, taking care of correspondence, sorting mail, maybe making the bank deposit, and some filing for a small office--would be ideal.
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