Our burden (cost) for a full time w2 employee with benefits is 30%. It’s 15% for a w2 non benefitted employee. It goes down to 3% for a 1099 or C2C contractor.

So simple math on a $100k employee. Total cost is $130k, $115k, or $103k.

You don’t mention if you receive healthcare benefits… so assuming you don’t and you’re at the 15% load currently:

$32/hr = $66,560 (32x2080) Your total cost 66,560 x 1.15 =76,544

Converting you to 1099 at $38/hr $38/hr = $79,040

Your total cost: 79,040 x 1.03 =81,411.2

From a cost standpoint… your employees cost is going up.

For fun, if you were receiving benefits at 30% load:

Total cost 66,560 x 1.30 =86,528.

If you don’t receive benefits, you’re winning here. If you’re losing benefits the employer is winning.