Compensation & Remote Work vs Compensation & In Office Work

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Compensation & Remote Work vs Compensation & In Office Work

1y ago 11:20

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What we talked about on this episode:

This episode was inspired by a TT video I saw where someone shared their remote compensation, hybrid comp, and in-office comp expectations.

It was said they ask for $20k more for in-office jobs and the person dueting it seemed shocked.

My response was good for them BUT that’s it?

Let’s talk about it.

Should you have different compensation expectations for a remote job vs a job you would be required to go into the office?

For simple math.

Let’s say your hourly rate is $40/hour.

Your commute:

1 hour per day, 30 minutes each way.

$40 x 5 x 50 weeks per year

= $10,000

15 miles each way, so that’s 30 miles per day round trip.

30 x 5 x 50 = 7500 miles you’re putting on your car each year.

The federal mileage rate right now is $.67/mile and at 7,500 miles we are looking at:

$5,025

Time and mileage just for your commute is now at:

$15,025 per year

Food:

Buy lunch 2x a week and bring lunch 3x a week

$10, which is conservative for a meal these days

$10 x 2 per week x 50 weeks per year

=1,000 extra on food

Between commute and food, we are now at $16,025

Clothes:

Unless you can wear the same shit you can at home, in the office, you have to account for additional clothing expenses.

Let’s say $2,000 a year on the lowest end.

Now we are at $18,025 just in expenses for commute, food, and clothing.

We haven’t factored anything in for the inconvenience. These are simply expenses.

Truly, do the math.

What makes sense?

Hybrid = I’d do 75% of whatever the in-office number you come to is.

If companies are hell-bent on getting people back into the office, awesome, compensate accordingly.

Thank you for taking the time to listen, watch, and be here! I appreciate you!

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