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How to convert an hourly contract rate to an approx salary?

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    #11
    Originally posted by Kyajae
    I see your point. However, permies get a minimum of 4 week paid holiday a year. Technically they work for 48 weeks a year but they recieve full pay whilst on holiday which is why I use the 52 week benchmark.
    I suppose if you're comparing a contractor who does work 52 weeks a year with a permie who takes his 4 weeks paid holiday each year, then yes that's probably right. But most people take some holiday, and you don't always have a choice about Christmas and Bank Holidays. And that's if you don't find yourself on the bench. The calculators tend to work on 10 months a year.

    Really the cost of a permie is their salary * 12/11 to allow for the month off. If you were guaranteed a month's salary per year of service as redundancy, then you could count that as salary * 13/11.
    Will work inside IR35. Or for food.

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