The floor is open #3

I have a question, for anyone who might stumble upon this page and for my friends who haven’t yet given up hope on the resurrection of this blog.

How do you figure out/calculate how much your time, labour and effort is worth in charging someone for whom you’ve done some work? How do you know what a fair salary or compensation looks like? How does the idea of profit fit into these calculations and decisions?

I ask because aside from working out how to much to charge based on the cost of physical materials, I’ve always wondered how people put a price tag on their service to others. I guess factors such as supply and demand, competition and government intervention help provide a guide to start you off, or else set very strict limits in some cases. If it is possible to momentarily sideline those external influences, do you have some sort of internal feeling for what your ability, time and effort is worth?

More than justifying it to others, what I wonder is how do people justify it to themselves? How do they satisfy their own sense of fairness?

This question is open to everyone: whether you feel you’re justly paid or not; and whether you receive a fixed salary, are self-employed or are some form of consultant. I sincerely thank whoever does decide to give answering the question a shot, my naivete in this matter is very, very persistent.

[And yes, “a question” in actuality meant a set of questions revolving around a main idea 🙂 One day I will learn how to ask “a” question. It will come!]

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