Payment for your services
The overwhelming majority of contracting assignments are remunerated on an hourly or daily rate basis. On rare occasion, an organisation may ask us to work with you to establish a fixed fee for the delivery of a project. Usually in this instance, we would agree on project milestones, at which points we would make part payments to you of the overall fee.
When we interview you, we will endeavour to establish broad parameters around the level at which we pitch you to the market. This will only be a broad indication, because the requirements of every assignment will be different.
Typically, we will agree with an organisation seeking to engage a contractor what sort of fees they will need to pay to secure the services of a contractor capable of successfully undertaking the assignment. We will then discuss the opportunity and the fees on offer with suitable and available executive contractors.
If you are being paid as an individual, the hourly or daily rates that we will discuss with you will be inclusive of superannuation and less pay-as-you-go (PAYG) tax. For example, if we discuss a contract rate of $75.00 per hour, your cash rate (before PAYG tax) will be $68.81 and $6.19 will be contributed into a superannuation fund on your behalf.
We are able to engage your services through a company where you have provided us with the necessary documentation before commencing the assignment (certificate of company incorporation and workers compensation policy). In this case, we will pay the full hourly or daily rate to the company. That company will be responsible for paying tax, superannuation and workers compensation insurance on your behalf. (Note that sole traders with an Australian Business Number will be treated as individuals.)
Payment for your services will be made on a monthly basis in line with executive remuneration standards.
SHK adds a fixed percentage margin to your fees. This aligns our interests. We will always try to secure you assignments at favourable rates, balanced with the need to deliver value to the organisation engaging our services.
SHK's rate of payment to you for your services on an assignment must not be disclosed to the organisation that you are engaged at.