Wrap rates can be confusing as it goes by many different names: wrap rates, fully burden rate, fully loaded rate, and billing rate.  What exactly is included in your wrap rate?  That is what the video is about.  Your wrap rate is made up of Indirect Costs which are also known as burden(s).  Burdens are support costs like fringe benefits, overhead and general and administrative costs (G&A). Fee(s) are your profit.  A wrap rate is what you bill your customer to recover the cost of the employee pay, plus fringe benefits plus an amount for overhead, plus G&A costs, and profit.