Originally posted by NotAllThere
View Post
- Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
- Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!
State of the Market
Collapse
X
Collapse
-
-
Originally posted by TheDude View Post
It's seems like what you need to do to find peace is find a £150k a year gig in Wakefield or Bradford.Last edited by Contractor UK; 7 August 2023, 14:42. Reason: Deleted sentence - even if quoting others do not use this word.Comment
-
Originally posted by Protagoras View Post
It may be my rose-tinted specs, but I think that the halcyon days of contracting were last century. Since then I've viewed contracting as being in managed decline, exacerbated by government policy. Indeed, I think there's an argument that the UK is now in managed decline.
Seems to me now that if a client wants people to jump on a project, they go to a 'consultancy' for resources. Contractors once had the advantage of being able to agree contracts in an hour, but for the prudent that's long gone.
Personally, I don't know any contractors under 55; indeed most of those I know still working are coasting towards retirement. The younger ones I did know 10 years ago have become permie, or left the UK (which is what I suggest to anyone who's young, skilled and mobile).
Last time I started a gig at short notice was 20 years ago in London (meet client on Friday, start Monday). Is this even a 'thing' these days?---
Former member of IPSE.
---
Many a mickle makes a muckle.
---Comment
-
I am 50 in November and when I was choosing what to do in college in the 90s - in those days HNDs were a real alternative to degrees - I was steered into IT because everything was going onto computers, which proved to be true. Unfortunately for me several million Indians reached the same decision over the next few years and offshoring and the industry encouraged issuing of work permits has flooded the market.
I don't think the work has dried up or is threatening to (granted I imagine a few projects are on hold at the moment due to interest rates) but what we do has gone from being a desirable skill to something that goes to the lowest bidder.
I am not convinced it is much better in permie world as when I look the salaries aren't that much better than when I left it in 2008.Comment
-
Originally posted by SussexSeagull View PostI don't think the work has dried up or is threatening to (granted I imagine a few projects are on hold at the moment due to interest rates) but what we do has gone from being a desirable skill to something that goes to the lowest bidder.
The other thing is higher tax rates for both contracting and perm. Much higher today compared with 23 years ago.
So i think contracting would still be pretty good if the tax rates were not so high and houseprices were not so high. That is why the 90s were such a great period to be a contractor.Last edited by Fraidycat; 7 August 2023, 11:26.Comment
-
Originally posted by Fraidycat View Post
I think both contract and permie rates had kept up with CPI inflation between and 2000 and 2022. But obviously did not keep up with houseprice inflation.
.
Inflation has been far higher than the CPI implies. Product substitution, product quality, shrinkflation, all things not accurately captured by the metrics.Comment
-
Originally posted by Fraidycat View PostThat is why the 90s were such a great period to be a contractor.Comment
-
Originally posted by JustKeepSwimming View Post
When housing make up 30%+ of costs it's meaningless to not include it.
Inflation has been far higher than the CPI implies. Product substitution, product quality, shrinkflation, all things not accurately captured by the metrics.Comment
-
Originally posted by Guy Incognito View Post
I am currently earning the highest rate I have ever achieved. It is exactly 20% more than the rate I achieved in my second ever contract in 2001.
As an example, £ 400 a day in 2001 would be worth £ 714 today!
https://www.bankofengland.co.uk/mone...ion-calculator
And that's when there was no tax on dividends, allowances were greater, flat rate VAT scheme was good for a couple of grand extra a year, etc, etc.Comment
-
Originally posted by Protagoras View Post
It may be my rose-tinted specs, but I think that the halcyon days of contracting were last century. Since then I've viewed contracting as being in managed decline, exacerbated by government policy. Indeed, I think there's an argument that the UK is now in managed decline.
Seems to me now that if a client wants people to jump on a project, they go to a 'consultancy' for resources. Contractors once had the advantage of being able to agree contracts in an hour, but for the prudent that's long gone.
Personally, I don't know any contractors under 55; indeed most of those I know still working are coasting towards retirement. The younger ones I did know 10 years ago have become permie, or left the UK (which is what I suggest to anyone who's young, skilled and mobile).
Last time I started a gig at short notice was 20 years ago in London (meet client on Friday, start Monday). Is this even a 'thing' these days?Comment
Partners
- Home
- News & Features
- First Timers
- IR35 / S660 / BN66
- Employee Benefit Trusts
- Agency Workers Regulations
- MSC Legislation
- Limited Companies
- Dividends
- Umbrella Company
- VAT / Flat Rate VAT
- Job News & Guides
- Money News & Guides
- Guide to Contracts
- Successful Contracting
- Contracting Overseas
- Contractor Calculators
- MVL
- Contractor Expenses
Advertisers
Contractor Services
CUK News
- Streamline Your Retirement with iSIPP: A Solution for Contractor Pensions Sep 1 09:13
- Making the most of pension lump sums: overview for contractors Sep 1 08:36
- Umbrella company tribunal cases are opening up; are your wages subject to unlawful deductions, too? Aug 31 08:38
- Contractors, relabelling 'labour' as 'services' to appear 'fully contracted out' won't dupe IR35 inspectors Aug 31 08:30
- How often does HMRC check tax returns? Aug 30 08:27
- Work-life balance as an IT contractor: 5 top tips from a tech recruiter Aug 30 08:20
- Autumn Statement 2023 tipped to prioritise mental health, in a boost for UK workplaces Today 08:33
- Final reminder for contractors to respond to the umbrella consultation (closing today) Today 08:09
- Top 5 most in demand cyber security contract roles Aug 25 08:38
- Changes to the right to request flexible working are incoming, but how will contractors be affected? Aug 24 08:25
Comment