TrinityP3’s world first agency remuneration business mobile app is now available for iPhone, iPad, Android.
The Resource Rate Calculator has been reborn as the TrinityP3 Head Hour Rate Calculator. It is a free industry calculator designed to calculate head hour rates, annual salaries, overhead & profit markup and annual billable hours.
The Head Hour 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
- Mark Up or Margin
- Direct versus In-Direct Salaries
- Profit on Overhead and Salary Costs
Billable Hours Per Year
- Annual Leave
- Sick Leave
- Public Holidays
- Hours per week
- Non-billable time
The TrinityP3 Head Hour Rate Calculator app has all of the market variables to allow the application to be used in all the major global markets including:
- Multiple Currencies eg. Dollars, Euros, Pounds, Yuan, Yen, Rand, Peso, Won and more.
- Billable Hours Per Year based on common local variables.
- Overhead and Profit Multiples based on business metrics.
Who is the Head Hour Rate App ideal for?
- Marketers can use the TrinityP3 Head Hour Rate Calculator to calculate the underlying salaries behind their agency’s head hour rates.
- Agency Account Management can use the TrinityP3 Head Hour Rate Calculator to calculate agency resources rates from their salary costs using the agreed or contracted overhead and profit multiple.
- Procurement 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.
TrinityP3’s free iPhone business app is available from the app store NOW.