Leapt into the abyss

[Digimonsta]

Hello fellow forum members,

I just thought I'd say hello. I've been lurking around here for some weeks, but finally the time has come to take the plunge into the world of IT contracting.

1) I have a 3 month notice period with my permanent role, or rather did have as knowing no-one is going to touch me with that sort of availability. Therefore last Monday I took a leap into the abyss and handed in my notice with nothing to go to. I have to say that was probably the hardest decision I've had to make in my life.

2) I have 6 months worth of expenses in the bank and by the time my 3 months is up, that will be more. Hopefully that will be enough.

3) I'm spending this week setting up an limited company and sorting out an accountant. I want to study the ins and outs of IR35 to avoid being stung.

4) My availability is nationwide, although I'd prefer an initial gig in the Midlands. My other half and I have decided that whilst we don't currently have kids, if I need to stay away or commute some distance then so be it.

So, I have two questions for you all really. Firstly, the day I handed my notice in, I spoke to an agent. He was trying to secure me a permanent position. I told him what I'd done and he was distinctly non-plussed. Words to the effect of "Well that's not a very good idea, coming out of the back of a recession". Was he right? I'm thinking to be honest, he was just miffed that he wouldn't get any commission out of me.

The second question is more open. If you seasoned contractors could do one thing differently when you entered the market, what would it be?

[TheFaQQer]

3) I'm spending this week setting up an limited company and sorting out an accountant. I want to study the ins and outs of IR35 to avoid being stung.

Why rush? You've got three months before you need a limited company and an accountant. Do the research, for sure, but you don't need to hurry getting a limited company right away when you have so long to wait before you can do anything.

So, I have two questions for you all really. Firstly, the day I handed my notice in, I spoke to an agent. He was trying to secure me a permanent position. I told him what I'd done and he was distinctly non-plussed. Words to the effect of "Well that's not a very good idea, coming out of the back of a recession". Was he right? I'm thinking to be honest, he was just miffed that he wouldn't get any commission out of me.

If I knew what the jobs market was definitely going to be like for your skillset (of which you have told us nothing), then I wouldn't be hanging around CUK - I'd be putting my predictive skills to a challenge elsewhere.

He's either right or wrong or a little of both - presumably you did your research about roles that you would be wanting to take so you know what the contracting market looks like at the moment. What was it like last month? Have another look in a month, and then a month after that. Then have another look in a further month when you are actually available for work - it's only then that you'll learn whether he was right or not.

The second question is more open. If you seasoned contractors could do one thing differently when you entered the market, what would it be?

Keep my mouth shut at the right time, remember that you aren't going to win the argument between contractor and permie no matter how right you are, and don't sign a six month lease miles away from home just before the client kills the project.

[Bunk]

Remember, when you leap into the abyss, the abyss also leaps into you

[NotAllThere]

You might like to take some advice on whether a three month notice period is legally binding... assuming you're happy to burn bridges with your current employer of course. Failing that, you could try to negotiate an early departure.

Just as an alternative to stoking up your savings with three months more salary.

The second question is more open. If you seasoned contractors could do one thing differently when you entered the market, what would it be?

Don't wait so long before making the jump.