Let's talk about money...

Saturday, April 16, 2016

As someone who’s working a lot in Customer Support, I have a handful of industry-resources I’m pretty open to read and catch-up on trends, etc…

In the latest email from We Support NYC, I came across this link, comparing average industry salaries.

Before I dive in, keep in mind that I’m technically a freelancer, contractor working remotely for a US-based company. I’ve worked in the industry since 2011, so I technically have 5 years behind me.

As pointed out by the post itself:

5 interesting facts about compensations in support

  • The median annual salary raise is 7%.

  • Your salary will increase by $10,000 raise after 3 years in support.

  • The gender inequality is still there. Women are paid 5.8% less than men.

  • Support people in the US make 40% more than in Western Europe

  • Working remote or having a technical background doesn't impact your salary.

Now, when I look at this number, considering the amount of work I undertake and other different factors I take into account. What's sad is that it doesn't there's a difference of about $20k going against me, compared with industry standards.

The golden rule of freelancing is that you should technically earn more than someone on a full-time job (about 20% or so I’ve heard), since you technically have more risks and taxes to balance with your work and professional services.

So I’m actually way under the standard, which bugs me a bit. Not so much the whole “comparing with others”, but more so knowing that I could earn so much more than I do now and that this higher income would help me move to a less risky situation.

Though I’ve been aware of this for a while and have already set in motion a few things that should help me. More on that really soon!

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