NOW AVAILABLE. TrinityP3’s world first agency compensation iPhone app. The Resource Rate Calculator is an industry calculator designed to calculate resource rates such as head hour rates, annual salaries, overhead & profit markup and annual billable hours.
The Resource Rate Calculator is four calculators in one:
1. Overhead cost and profit multiples – what factor must you multiply the direct salary cost by to cover the business overhead and profit?
2. Annual Billable hours – how many billable hours are there in a year, after annual leave, public holidays and sick-leave?
3. Annual salary – based on the hourly rate, what is the person’s annual salary?
4. Hourly rate – converts annual salary to hourly rate
Calculating head hour rates can be complex and confusing for marketers, procurement and even agencies themselves. There are so many variables to consider:
Overhead cost and Profit Mark Ups
a. Mark Up or Margin – what is the difference and how does it impact on costs
b. Direct versus In-Direct Salaries – what are the differences and where do they impact on rates
c. Profit on Overhead and Salary Costs – how do the two impact on the calculation
Billable Hours Per Year
a. Annual Leave – how many weeks per year
b. Sick Leave – how many days per year
c. Public Holidays – how many days per year
d. Hours per week – Average working hours per week across the number of working days
e. Non-billable time – percentage of time per week that is non-client time
a. Dollars – US, Canada, Australia, NZ, Hong Kong etc
b. Euros – European Union
c. Pounds – United Kingdom
d. Yuan, Yen – China, Japan
e. Rand – South Africa
f. Won and more.
The TrinityP3 business iPhone App is ideal for:
Marketers – who can use the TrinityP3 Resource Rate Calculator to calculate the underlying salaries behind their agency’s head hour rates.
Agency Account Management – who can use the TrinityP3 Resource Rate Calculator to calculate agency resources rates from their salary costs using the agreed or contracted overhead and profit multiple.
Procurement – who can calculate billable hours per year for various markets and see how increasing and decreasing the number of billable hours impacts on the head hour rate.
Agency Staff – who can use the agency charge out rate and the agency’s billable hours and overhead and profit multiple to calculate what they should really be paid.
The TrinityP3 Resource Rate Calculator is now available from the iTunes App Store.