Assessing the appropriateness of a $500 per hour rate for a 3-month contract position yields mixed opinions and depends heavily on context. Some sources suggest the rate is significantly undervalued or overly high for standard roles. Factors influencing the rate's feasibility include specialized skills, project scope, location, urgency, market demand, industry standards, the contractor's expertise, and a careful calculation of costs, taxes, and profit margin. Documentation from governmental and professional organizations provides context around average earnings, tax implications, contractor regulations and guidance for calculation of rates.