Sep 12, 2013 11:06:00 PMEditedOct 30, 2014 03:31:02 PMbyPetra R
oDesk charges the contractor a fee of 10% of their bill rate.
The BILL rate is the rate the client pays, including the oDesk fee. (What is "billed")
What you are trying to do is adding 10% to the money you are left after the fee is taken out. That's not how it works. The fee is calculated on the grand total the client pays.
So if your bill rate is $ 11.11 then 10% of that is $ 1.11 and you are left with $ 10.00 after paying the oDesk fee.
Think of your hourly price as the bill rate. That is what you (or oDesk on your behalf) are charging the client. Calculate 10% of that: this is what you pay to oDesk (or oDesk takes out at source).
If you deduct 10% from the bill rate you get the sum you are actually left with. Never start with the amount you are left with, that is calculating it the wrong way round.
Does that make sense?
Sep 13, 2013 03:17:02 AMEditedOct 30, 2014 03:31:07 PMbyMarcia M
100-10%(100) = 90 (deducting from total billed to client)
90+11.11%(90) = 100 (adding to total received by contractor)
I am sure it is already illustrated like this somewhere in the Knowledge Base, though.
Nov 21, 2013 09:36:00 AMEditedOct 30, 2014 04:02:40 PMbySAJID R
Today I went in to change the rate of my contractor and to my amazement what did I notice?
Rate I was wanting to adjust to was $7.30/usd
Rate that Odesk was wanting to take for themselves was not 0.73 cents, but 0.81 cents, thats by any calculators means 11% not, 10%,
10% would be .73 cents, so Odesk has been charging folks like this for how long now?
I had to drop my rate down so that it would not go over budget of $8/hr, see my screen shot here: http://boycotthajj.com/odesk.jpg
I talked to odesk live chat rep Dulce about this issue, but this rep kept repeating the same scripted garbage back to me like they didnt know how to use a calculator.
My question here is now i have to review all my previous records of jobs posted to ensure I was not losing any money due to a miscalculation. I smell the scent of a lawsuit in the air....
Nov 22, 2013 01:06:49 AMEditedOct 30, 2014 04:02:41 PMbyMarcia M
The full charge, that comes off your credit card, is $8.00. oDesk takes off 10%, which is $.80. The freelancer gets the $7.20 paid to them.
If you had paid what you originally wanted to pay, you would have paid $8.11, oDesk would have taken 10% of that, which is $.811. There would be $7.30 (rounded from $7.299) left over for the freelance.
It has already been explained several times in the thread.