You have to factor in other costs on top of the employee wage:Taxes, Insurance (liability/health,etc), Retirement/401k, Office Space (Rent & Utilities optional

You have to factor in other costs on top of the employee wage:Taxes, Insurance (liability/health,etc), Retirement/401k, Office Space (Rent & Utilities optional if running virtual) I'm sure there are other costs some optional, some not. Depending on how lean you want to run you can have a very low overhead. It also depends on what level of developer you are hiring.