The Resource Rate Calculator is an industry calculator designed to simply and easily calculate resource rates such as head hour rates, annual salaries, overhead & profit markup and annual billable hours.
In fact 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 persons annual salary
4. Hourly rate – convert 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 such as:
1. Overhead cost and Profit Mark Ups
a. Mark Up or Margin
b. Direct versus In-Direct Salaries
c. Profit on Overhead and Salary Costs
2. Billable Hours Per Year
a. Annual Leave
b. Sick Leave
c. Public Holidays
d. Hours per week
e. Non-billable time
The TrinityP3 Resource Rate Calculator iPhone app has all of the market variables to allow the application to be used in all the major global markets including:
1. Multiple Currencies eg. Dollars, Euros, Pounds, Yuan, Yen, Rand, Peso, Won and more.
2. Billable Hours Per Year based on common local variables
3. Overhead and Profit Multiples based on business metrics
Marketers can use the TrinityP3 Resource Rate Calculator to calculate the underlying salaries behind their agencys head hour rates.
Agency Account Management 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 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.