What is the value of a Benefits plan? 5

[rjgoebel]

I am in the boat of not being sure how important a benefits plan is, how much the things are going to cost me if I cannot get one in my work, and if I need to be searching for a job where benefits are present.

I am fresh out of school and am now 'technically' working as an independent contractor. As in, I am getting paid as a consultant or self-employed individual. I am pretty new to all of this and feel as though I have been thrown in with the sharks. In some respects I am weary that my employer is taking advantage of me as a good young EE with not much experience with the monetary side of consulting.

I have estimated my salary (although it is VERY rough at this point) after working here for about a month and a half. It is comparable to the starting salaries of those graduating from Rose-Hulman with me in EE. But, I am not recieving a benefits package because I am not an employee. In addition, my taxes are not being withheld by my employer because I have been labelled as a consultant, independent contractor, and self-employed. This means I have to bear the brunt of health insurance, dental plan, etc, etc. Problem is, I really am enjoying my job here in forensics as an EE but I am worried that something fishy is going on.

Anyone care to opine on the benefits thing?

 

[PEinc]

SlideRuleEra's previous post linked to the following information. If the company has no PE or RA, it is illegally offering engineering and architecture services.

Mid-West Forensic Services
3728 West 86th Street
Indianapolis, IN 46268-1903
Phone: (317) 876-3220
Business Types: Criminologists, Engineer & Architect Services

rjgoebel, get a new job ASAP.

 

[Beggar]

I do feel a bit sorry for Jim in that he's basically been "outed" and really has little choice at this point. The detailed nature of this thread has essentially burned his bridge for him. My guess is that his boss would be none too happy to see all of this tied to his name in a public discussion forum.

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Bring back the HP-15

http://www.hp15c.org

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[bacon4life]

I am not sure if the original question matters anymore, but here are approximate benefits at our utility.

Healthcare, vision, dental, short term disability and $50,000 of life insurance: $10,000

Employer contribution to retirement: $4500

Social security/medicare/unemployment/workers compensation taxes paid by employer: $5,000

Paid vacation/sick leave: $5,000

Training: $5,000- depends if you count the human resource classes or just the technical ones ;-)

that is more than half my salary! Granted being young, single and in good health I could find health insurance much cheaper, but all rest sure adds up.