Posted by Pierces Notary Services on 4/19/11 3:30pm
Msg #380514

What is your hourly rate?

I was contacted by a gentleman to go out and notarize a couple of documents for him pertaining to the gas industry here in our area. He works for one of the gas companies and needs a mobile notary to work with. He asked me if I could charge him a rate based on mileage and also the standard notary fee. I contacted the guy who does my taxes and he said I should charge a mileage rate and an hourly rate. Geez...how does one compute their hourly rate? We are not talking about a whole loan package...just a couple of oil and gas lease documents.

Reply by CorpJen on 4/19/11 3:38pm
Msg #380521

nothing less than $30/hour

Reply by jba/fl on 4/19/11 3:43pm
Msg #380522

$35-50 per hour is fair. Remember what still has to be covered...all those expenses, etc. Don't forget mileage should cover replacement cost of that gas and oil, which may not be yesterday's price.

Reply by RickG/CA on 4/19/11 3:49pm
Msg #380527

An over simplified way is the determine a minimum daily requirement and divide that by the ideal number of projected hours.

Ideally we'd all like to make 100,000/yr doing 1 signing a day so that translates in to something like:

$100,000 / 48 = $2,083 per week (assuming 4 wks of vacation)
2 * 5 = 10 hours (going with the 1 signing a day 2 hrs including travel 5 day workweek)
$2,083 / 10 = $208.30 per hour

Reply by John Tennant on 4/19/11 3:52pm
Msg #380528

My hourly rate is my base rate. Does not include printing, faxbacks, but does include going 20 miles round trip. This covers all related business expenses just as if I was doing a closing.

Reply by NJDiva on 4/19/11 4:17pm
Msg #380531

LMAO!!! Yeah okay!

Reply by NJDiva on 4/19/11 4:18pm
Msg #380532

The above reply was for Rick G. It would sure be ideal to charge $208 and hour.

Reply by Alz on 4/19/11 5:29pm
Msg #380548

Love those calculations. Everyone is not in that position. n/m

Reply by Robert Williams on 4/19/11 9:12pm
Msg #380575

I'll work for that

Reply by LKT/CA on 4/19/11 4:39pm
Msg #380538

Agree with jba/fl........would be willing to negotiate to $30 per hour but absolute minimum is $25 per hour.

Reply by ME/NJ on 4/19/11 4:46pm
Msg #380541

Subtract the cost of the closing, 40-45/hour.

Reply by Susan Fischer on 4/19/11 6:44pm
Msg #380558

I'd charge $1.60 per mile, & Notary fees allowed by state,

paid upon completion of each job.

Sounds like great work if you like to drive and get paid for it. (Oregon's max fee is $10.) If you have a lower rate max, you could call any overage a mobile fee.

jmho.

Reply by Susan Fischer on 4/19/11 9:02pm
Msg #380571

So, for me, for a 50 mile round trip = $80 + 6 Notarizations

= $60 =

TOTAL: $140 for a 2 hour job.

Works for me.

Reply by John Tennant on 4/19/11 7:42pm
Msg #380565

Don't forget your tax obligations

On $30.00 per hour, 25% fed tax, 15+ % self employment tax, and possible state tax.

In CA. the net hourly rate would be approximately $15.60.

In other words, don't lowball yourself.

Reply by MW/VA on 4/19/11 10:33pm
Msg #380585

I think the person who could help you with this is

John Schenk. I seem to recall he did this kind of work a while back.