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£350/pd vs £75k p.a. permanent. Is it worth?

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    £350/pd vs £75k p.a. permanent. Is it worth?

    Hi there,

    I'm in discussions with a private bank in London for a 12 month contract at £350/pd. At the moment I'm at a full-time role with £75.000 per year - I really struggle to understand if it's worth switching. Any advice would be much appreciated.

    Cheers
    Nick

    #2
    Originally posted by tromeros View Post
    Hi there,

    I'm in discussions with a private bank in London for a 12 month contract at £350/pd. At the moment I'm at a full-time role with £75.000 per year - I really struggle to understand if it's worth switching. Any advice would be much appreciated.

    Cheers
    Nick
    £75 a year is like £1.50 a week

    Comment


      #3
      Inside or outside ir35?
      The money is about the same, so you only have a bit of tax to save if you're outside.
      Being blunt... if you're worth 75k then you're worth quite a bit more than 375 a day.
      See You Next Tuesday

      Comment


        #4
        Yet another rate vs wage thread. How very twee.

        OP could have a search using the method described in the FAQ section. There is much more to it than comparing two things that are too different to compare.
        Last edited by northernladuk; 22 August 2017, 22:13.
        'CUK forum personality of 2011 - Winner - Yes really!!!!

        Comment


          #5
          The OP asked -
          £350/pd vs £75k p.a. permanent. Is it worth?
          Answer - Nope.

          Next question please.
          Public Service Posting by the BBC - Bloggs Bulls**t Corp.
          Officially CUK certified - Thick as f**k.

          Comment


            #6
            Originally posted by tromeros View Post
            Hi there,

            I'm in discussions with a private bank in London for a 12 month contract at £350/pd. At the moment I'm at a full-time role with £75.000 per year - I really struggle to understand if it's worth switching. Any advice would be much appreciated.
            Nope.
            "You’re just a bad memory who doesn’t know when to go away" JR

            Comment


              #7
              re-reading this this morning and it makes no sense.
              £75k is a pretty good permie wage and to get it, assuming in an IT job, must have 10+ years experience, and it's gonna be reasonably senior (architect, programme manager)
              To then not know that £350 is a bit tulip suggests either a liar, or someone who's in a £75k job as they've been promoted beyond where they can do any more harm (and should shut up, sit quiet and wait for retirement/redundancy).
              Last edited by Lance; 23 August 2017, 08:50.
              See You Next Tuesday

              Comment


                #8
                £350/day in our wonderful city of London?

                That'll go on a sandwich, your travel expenses, taxes, beer (try avoiding pubs in London ).

                You'll probably be left with sub-£200 of that £350.

                Comment


                  #9
                  Yeah those figures don't add up well. Unless the first contract is to ensure you have one to move to. I'd be expecting a better day rate regardless of your location from that permie salary.

                  Comment


                    #10
                    Is your current role with a private bank?

                    The contract market has been sticky for a while. Especially in banking.

                    However it really depends on your risk appetite. If you are 25 with no dependants it might be worth a punt. If 50 with dependants it might well not be.

                    Comment

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