Benefits Consultant Career Guide and Counseling

Question: What are the benefits of being a software consultant? I'm a software engineer and have worked for a fortune 500 company for the past 7 years. In total I have a little less than 10 years of experience. I'm thinking of moving out of my current employer. I've always wondered what are the benefits of going from an employee to a software consultant? Will appreciate your thoughts. thx R

Answer: Other than being an expert in a specific software, you will be travelling a lot, no need to stay too much facing your computer screen and meeting lot of people, which have also some negatives, especially when training different brain levels..

Question: Can I lose unemployment benefits if I work as a consultant? I live in New York and I am currently unemployed. I am collecting unemployment now, but I wanted to know if I work as a consultant for one or two days, will I lose my unemployment benefits? The consulting job will only last one or two days and then it will be done. A couple people have answered that I would only lose benefits for the day or two that I worked which is fine with me. I just don't want to permanently lose them. Can anyone else verify that?

Answer: No - you would report the income to unemployment during your weekly certification. Unemployment will adjust your benefit payment for any money you've earned.

Question: What are the risks/benefits of being an independant consultant? I am currently a full-time employee with full benefits, 401k, the works. My boss asked if I wanted to become a contractor. I know by saying yes I would lose my benefits, paid vacations, etc. But my pay would increase to compensate for it. Is it worth it? I don't even know how much more to ask for. Is a 20% increase enough? 25%? I'm 40 and single so its just me I have to worry about.

Answer: You will probably need considerably more than a 25% increase in pay to equal your current net salary and benefits. Just the self-employed (independent contractor) social security and medicare tax is 15.3%, all of which you will have to pay, after taxes. If your employer is making matching contributions to your 401K, then you should add that amount to any increase. Also, the company match is tax deferred, but any increase in your pay will not be tax deferred. As mentioned, private health insurance can be very costly, so you should get an estimate of this to add to your request for increased pay. All in all, it would probably not be to your advantage to become a contractor, unless the increase in pay is considerable.

Question: What are the tax benefits when I become a "Consultant' from an 'Employee'? I work in a PSU and superannuate soon. I have been offered the post of a Consultant and shall have the same job profile as the present one.

Answer: As a consultant you'll be self-employed. You will be able to take legal business expense deductions on your income tax returns. Good Luck.

Question: With no income as consultant in India, can I claim unemployment benefits? I moved to India close to 2 yrs ago as a consultant (after working as a full time in US for 15 yrs). Now my services are not needed by my clients and I am back in US looking for a job. I dont have income and health benefits. Can I claim unemployment benefits? I am in CA.

Answer: Normally I'd say no. But in CA anything is possible. Well... by CA do you mean California, or Canada?

Question: hi...can somebody pl. tell me what is the average salary, perks and benefits an IT consultant get at wipro? i am going to negotiate for the job of IT consultant at wipro, and would be very much grateful if somebody could guide me as to what is the ongoing trend for salary, perks and benefits over there.

Answer: Join a MNC , indian it companies pays 50% less and make you work 50% more .

Question: What benefits do you get by becoming a Creative Memories Consultant? I have a friend who has almost been talked into becoming a consultant to earn a bit of extra money. I think she would be very good at it. Is it a good money earner, what do you get when you are a consultant?

Answer: I believe you get a 30% discount/Commission on their products. Not sure what you get as for commission for their downline, or what you have to acheieve in order to get that. I do know they have extremely high quotas that you have to meet per quarter (like $200 retail or more). Many of the consultants I know ended up buying for themselves and having it in their garage and lost a bunch of money when they had to sell it after they had been deactivated. Nice products..but unless you're in an area where there's few Creative Memories consultants..or few people into scrapbooking, it may be a tough go. Better to look at the other companies out there and what their compensation plans are and minimums!!!

Question: Anyone have National Benefits Consultants Health Insurance? I was wanting to know if national benefits consultants (NBChealth) insurance is any good. My husband is wanting to get it. I havent heard of it and not sure if it is any good. It doesnt cost much is why he wants it, but is it worth it?

Answer: I'm a benefits consultant. You have 2 options with this plan, you only get 1 unless u buy both. 1st option is called catastrophic insurane, it covers surgery, hospital. Basically if u r hit by car and need surgery. 2nd is a mini-med plan, it will cover preventive and doctors visit. Unless you buy both it's will be hard to justify. Find a insurance and have then shop carriers for you, then pick best plan. Compare price vs amount of benefits

Question: How does an independent contractor or consultant get affordable health care benefits?

Answer: Well, "affordable" usually means "cheaper than market rates" in my experience, which means you've probably already been to an independent agent, and don;'t like the prices you're being quoted. The way to lower the price, is to lower what the insurance company has to pay out - which means, take a higher deductible. If you have a $5,000 deductible, and you're reasonably healthy, you can get coverage for $150 a month, or even less. If you're NOT healthy, the insurance companies will exclude your current conditions, as they can't afford to take on someone when they KNOW they're going to be paying out a lot more than they take in. (Just like YOU!! You can't afford to work at a loss either, can you??)

Question: You have been employeed as a consultant to design appropriate benefits packages in a bank - what you you recom You have been employeed as a consultant to design appropriate benefits packages in a bank - what you you recommend for a bank marketing manager

Answer: You want us to think for you and work for you? Sorry, you have to do your job yourself