weekend call coverage

[finalpsychyear]

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Hi. Was offered a 3000 weekend call but it is w2 money. Not sure what the equivalent would be for 1099. Is this a fair rate for friday 5pm to sunday 5pm with expectations to do rounding on 10 pts only out of 24 on sat/sun plus consults and er? I dont think it is too busy but will likely have to do a shift to really find out. I live 20 min from the place so not required to stay in house at least? thoughts?

 

[Shikima]

3k W2, 3k 1099.

 

[Merovinge]

3k W2, 3k 1099.

How is that? The W2 will include 7.65% for FICA (and he can get that all refunded if he is over the max from primary job).

 

[st2205]

It depends on how much consult and ER. If it stays at a total of 14 patients or less then it's a decent deal.

 

[Jules A]

How is that? The W2 will include 7.65% for FICA (and he can get that all refunded if he is over the max from primary job).

Depending on how interested I am in a job I add 10-20% for 1099 as compared to W-2, not only accounting for the FICA/self-employment tax but also for additional paper work and the extra fee I'll owe my accountant to do the 1099 schedule. If comparing 1099 rate to my benefitted W2 position I usually go about +25-30% for lack of health benefits, retirement, sick time etc.

OP the ED can be a beast so I'd want inside info on that because imo that rate is only decent if you don't go over 12-14 patients total on Sat/Sun. I usually take the overnight on call rate off the top which for me is between $300-400 x3 nights which leaves about $1,000 each day for rounds which isn't acceptable unless they are short days.

 

[Shikima]

How is that? The W2 will include 7.65% for FICA (and he can get that all refunded if he is over the max from primary job).

Employers don't differentiate between W2 and 1099 unless their corporation has specific payment rules. There is no offset in payment for one form over the other.

 

[finalpsychyear]

Depending on how interested I am in a job I add 10-20% for 1099 as compared to W-2, not only accounting for the FICA/self-employment tax but also for additional paper work and the extra fee I'll owe my accountant to do the 1099 schedule. If comparing 1099 rate to my benefitted W2 position I usually go about +25-30% for lack of health benefits, retirement, sick time etc.

I may just have to suck it up and do a weekend shift to see what it is like and then maybe have a better idea if its a fair offer. Luckily, it is prn so i don't have to commit to anything.