Rate calculator

Estimate the hourly rate for a contract

Awarded Tenders includes an estimation for hourly rates which is useful for understanding hourly rates in labour hire contracts.

By guessing the number of annual contract hours / annual contract days and then trying to find whole cents after dividing the contract value by those estimates, for some contracts, we end up with a “short list” of annual hours / hourly rate combinations.

Accessing the calculator #

Navigate to the Company Details page, and add the supplier you’re interested in.

Directly to the right of the tender value in the “Value” column is a small calculator icon.

Clicking that will open the rate calculator for that specific tender.

Using the rate calculator #

Example 1 - Tender without amendments #

The first example shows a tender with no amendments.

Typically an amendment represents an extension of a labour hire arrangement, and the length of the original contract and/or the extension is a key parameter in guessing the hourly rate.

In this example the contract runs for exactly 365 days.

The rate calculator has identified three potential hourly rates for this contract, based on a guessed annual hourly limit of either 1,760 hours, 2,000 hours or 2,080 hours. It is up to you to take an educated guess as to which annual contract hours might apply to this contract (each agency might have a standard they use).

For each of those three annual contract hours, the rate calculator has found at least one of the hourly rates (either incl. GST or excl. GST) to be a whole number of cents.

Example 2 - shorter duration contract #

In this example, the contract (without amendments) runs for 268 days which is very close to 9 months. The calculator adjusts the value of the contract to be what it would if it was a annual contract, and then performs the same search for a number of annual hours that give an hourly rate with a whole number of cents.

It finds two examples, with 1,840 annual hours and 1,880 annual hours. Note that whether the hourly rate represents a whole number of cents or not is shown by a green or orange icon next to the rate.

Example 3 - contract with amendments #

The final example shows a contract with an amendment (likely representing a 1 year extension). For contracts with an amendment, you can select (by clicking) on the individual amendments or the original + amendments, to attempt to guess the hourly rate for any of those.

For the initial contract we see a number of potential hourly rates, including the rate for 2000 hours.

Looking at the amendment, we see another set of guesses, and note that 2000 hours is again featured. We might guess that 2000 hours is the actual annual hours used in this instance as it has now appeared in guesses for both the original contract as well as the amendment.

Finally, we can see that taking the original and amendment together, we see the 2000 hours featured again.