How much better off are we?

[contractor79]

How much better off are we compared to permanent employees?

At first glance- a lot.
But we have to pay our own pension, insure ourselves, don't have sick days or paid holidays... and we don't really know where we will be in six months.

Do you think we're better off, if so by how much, and what multiplier of perm salary do you think contractors ought to earn to claim we are better off?

From personal experience- yes better off, however not as much as I sometimes think I am

[TheBigYinJames]

Money - at least twice better off, even when you take into account perks.

Dignity - inifintely better off

[ChimpMaster]

I am probably twice as better off financially, but when you take into account the permie benefits (especially given long-term illness cover and compassionate leave etc), there really isn't much comfort in the financial advantage.

For me the main thing is knowing that soon I'll be able to take off more time off than just 4 weeks a year. And not having to be involved in the ramblings of "company men".

I do missing having power though

[contractor79]

I feel I'm treated more like a grown-up as a contractor. Am more free to solve problems in my own way instead of being told what to do, or have to follow inefficient processes just because they exist.

[Moscow Mule]

I took two days out of the office last week and caught up at the weekend without anybody batting an eyelid.

I would think a permie might have had a bit of trouble doing that...

[VectraMan]

In my 12 years as a permie, I never had a pension, health insurance, gym membership, or any of the other perks I hear that permies get. Plus I never had more than a couple of days a year off sick, and didn't always take all my holidays (though for a while I used to get time and a half for any untaken holiday, which was nice).

So at least double, and when I look at the low paid permie jobs on the jobsites at the moment, maybe triple.

[TheBigYinJames]

I am probably twice as better off financially, but when you take into account the permie benefits (especially given long-term illness cover and compassionate leave etc), there really isn't much comfort in the financial advantage.

Have a look at illness income protection insurance. That may allay your fears. usually up to a year's illness income protection.

[ChimpMaster]

Have a look at illness income protection insurance. That may allay your fears. usually up to a year's illness income protection.

Got any advice on that? Someone told me they were paying £40 a month for £250k cover. Is that good?

[TheBigYinJames]

Got any advice on that? Someone told me they were paying £40 a month for £250k cover. Is that good?

Like all health related insurance, the premiums will depend on your age and health, you may have to have a medical.

[BrilloPad]

and we don't really know where we will be in six months.

neither do the permies!