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JoAnne Chalom, COMS, Ed.S.

What is Your Time Worth ?

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What is Your Time Worth ?. JoAnne Chalom, COMS, Ed.S. Considerations for Determining your Fee Structure. How do you determine a reasonable and customary fee for your services?. Quantity of Experience vs. Expertise. - PowerPoint PPT Presentation

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Page 1: What is Your  Time Worth  ?

JoAnne Chalom, COMS, Ed.S.

Page 2: What is Your  Time Worth  ?

How do you determine a reasonable and customary fee for your services?

Page 3: What is Your  Time Worth  ?

The cost of living for a geographic region impacts determining fee structure

Experience and expertise are also components of determining a fee structure

Page 4: What is Your  Time Worth  ?

Market Research 101 includes Geography Comparative Markets Quantity of Experience vs. Expertise

Page 5: What is Your  Time Worth  ?

A new orientation and mobility specialist may negotiate a lower rate

Compared to a veteran orientation and mobility specialist with over twenty-five years of experience

Page 6: What is Your  Time Worth  ?

States such as New York will typically have a higher fee basis than states like Georgia

A contractor in New York state charges $135 per hour

Another contractor in Alabama charges $58 per hour

Page 7: What is Your  Time Worth  ?

Comparative markets within a geographic region should be considered when determining a fee structure

Page 8: What is Your  Time Worth  ?

Determining for example, the base salary of an orientation and mobility specialist who works for a school district

Keep in mind that you are comparing apples to kiwis not apples to apples

Page 9: What is Your  Time Worth  ?

A private contractor would need to consider other factors such as expenses

gas vehicle maintenance office supplies other expenditures

Page 10: What is Your  Time Worth  ?

Professional Errors and Omissions Liability insurance

General Commercial Liability Insurance

Business coverage for your vehicle

Page 11: What is Your  Time Worth  ?

Determine what competitors charge e.g. other private contractors

Page 12: What is Your  Time Worth  ?

What state(s) have the lowest paid private contactors ?

Hint: Location, location, location

Page 13: What is Your  Time Worth  ?
Page 14: What is Your  Time Worth  ?

Alabama ($58) Georgia ($75) Florida ($80) New Mexico ($85) Texas ($90) Washington ($90)

Page 15: What is Your  Time Worth  ?

What state(s) have the highest paid private contactors ?

Hint: Location, location, location (with a twist)

Page 16: What is Your  Time Worth  ?
Page 17: What is Your  Time Worth  ?

Ohio $290 New York $135 Massachusetts $125

Page 18: What is Your  Time Worth  ?

Some contractors charge a separate fee for travel time

Others incorporate it into their hourly rate

Travel time rates range from .51 per mile

50% of the hourly rate for travel time

Page 19: What is Your  Time Worth  ?
Page 20: What is Your  Time Worth  ?

Georgia ($25) Texas ($30) New Mexico ($40)

Page 21: What is Your  Time Worth  ?

What is the average beginning salary of a teacher in the great state of Michigan?

What state has the highest average beginning salary for a teacher?

Page 22: What is Your  Time Worth  ?

Michigan ($34,724)

New Jersey ($48,101)

Page 23: What is Your  Time Worth  ?

Typically a school board employee’s salary is based on a ‘school year’ that is ten months long

Page 24: What is Your  Time Worth  ?

School Board employees also have benefits

It can include medical, dental, retirement

Page 25: What is Your  Time Worth  ?

What is the typical school year a school district employee ?

Is that factored into calculating base salary?

Page 26: What is Your  Time Worth  ?

What state has the lowest average beginning salary for a teacher ?

What is the median range for beginning teachers salaries ?

Page 27: What is Your  Time Worth  ?

State with the lowest average beginning salary (Montana) ($26,000)

Median range for beginning teacher salaries ($37,000)

Page 28: What is Your  Time Worth  ?

Another benefit would be either the use of the company vehicle for work related travel

Reimbursement for mileage (personal vehicle)

Wear and tear on your car is not typically reimbursed

Page 29: What is Your  Time Worth  ?

Depending on the company private contractors may not offer benefits

They may offer a limited array of benefits such as medical coverage

Page 30: What is Your  Time Worth  ?

What fringe benefits are provided to employees ?

Are they as prevalent for private contractors ?

Page 31: What is Your  Time Worth  ?

Pension Plans Group Errors and Omissions Coverage Paid time off (sick or personal) Paid Holidays Leaves or Sabbaticals

Page 32: What is Your  Time Worth  ?

Group Health insurance Groups Dental coverage Group Life Insurance

Page 33: What is Your  Time Worth  ?
Page 34: What is Your  Time Worth  ?

Texas ($60,034) Illinois ($55,488) Colorado ($51,568) New York ($51,268)

Page 35: What is Your  Time Worth  ?
Page 36: What is Your  Time Worth  ?

California ($30,000) Nebraska ($31,603) Texas ($31,729) Kentucky ($32,042)

Page 37: What is Your  Time Worth  ?

Blind Rehabilitation Outpatient Specialists at the Veteran’s Administration

Credentialed in at least one area, COMS, CLVS,Etc..

Page 38: What is Your  Time Worth  ?

Many positions have factored into their base salary a locality adjustment based on the cost of living in specific geographic regions

Page 39: What is Your  Time Worth  ?

Locality Adjustments can range from 4.72 (Alaska) percent to 35.15 percent ( San Jose, California)

Page 40: What is Your  Time Worth  ?
Page 41: What is Your  Time Worth  ?

San Jose-Oakland-San Francisco, California (35.15%)

Indianapolis-Anderson-Columbus, Indiana (14.68%)

Rest of the United States (14.16% ) State of Alaska (4.72%)

Page 42: What is Your  Time Worth  ?

Congratulations, you have decided to go out on your own and become self-employed

Give yourself a pat on the back

Now exhale (after you have figured out what you have just done)

Page 43: What is Your  Time Worth  ?

Take a moment to say good bye to Dependable paychecks

Fringe Benefits

Paid time off

Page 44: What is Your  Time Worth  ?

Paperwork…. oh what fun

Monthly deposits for federal, state and reemployment taxes (unemployment taxes)

Keeping current with all licenses required to have a business in your city, county and state

Page 45: What is Your  Time Worth  ?

Ensuring that invoices are paid in a timely manner

Ensuring that business expenses are paid on time

Page 46: What is Your  Time Worth  ?
Page 47: What is Your  Time Worth  ?

GS-11 requires ACVREP COMS (at least one area of certification more than one is preferred)

Salary Table 2012-GS

Page 48: What is Your  Time Worth  ?

Rates Frozen at 2010 Levels effective January 2012

Annual Rates by Grade and Step http://www.opm.gov/policy-data-oversight/pay-leave/salaries-wages/2012/general-schedule/saltbl.pdf

Page 49: What is Your  Time Worth  ?

Teacher salaries by state

http://teacherportal.com/teacher-salaries-by-state

Page 50: What is Your  Time Worth  ?

The National Council of State Agencies for the Blind (NCSAB)

http://www.ncsab.org/director-list.aspx Emailing every state that has a vocational

rehabilitation program or a contractor facilitating that need

Page 51: What is Your  Time Worth  ?

JoAnne Chalom,COMS, Ed.S.

In Focus Mobility, Inc.

www.infocusmobility.com

[email protected]