Currently on my second NHS PM contract (different locations)
It is a mixed bag - some things are good (hours, steady contracts and interesting meaningful outcomes from work to name 3) but other things are extremely frustrating - especially, it is very different to the real world (eg I'm currently working for a programme with no plan, no scope, no business case and therefore no agreed budget - very difficult indeed, and plenty of pressure as there are tight deadlines and patient care is at stake) It will all work out in the end, but not in a nice steady controlled manner.
I'm via an agency, but if direct, payment is a big issue.
Currently I crave a private sector job but realistically, the grass is always greener...
As for rates, the NHS is skint so rates are rarely the best. Increases possible, but only after a few extensions and don't expect to get more than an average rate for the job.
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Week 23 of 34 in current contract, 22 months until mortgage paid off.
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