State of the Market

[PCTNN]

As an FTC, do I have to hand my CUK badge in?!

Nah, at least half of the cuk are actually permies

[ladymuck]

Thanks all. That's helpful and cleared the fog.

The answer is... Option 4. FTC, £80k with a company that will definitely add to my CV and offers potential for perm / long term progression.

Been extremely jammy this week, and I know FTC is generally frowned upon, but given who it's for and the opportunities that brings it's a no-brainer. Especially as they offer a very good pension contribution, which I've neglected as a contractor knowing that this day may come fairly soon.

As an FTC, do I have to hand my CUK badge in?!

Thanks again for helping me make this decision - I am dreading some of the calls to other agents/current client today.

There isn't anything wrong an FTC when used correctly. It's essentially a permanent contract but with an end date, rather than perpetual. You should expect to receive all the same rights as a full time employee, except where the duration of the contract makes provision impractical (HMRC use the example of providing a company car to someone on a 6 month FTC, IIRC, that would be somewhat unreasonable). If your FTC gets extended beyond two years I think you should be converted to being a proper permie (but check to make sure you don't get stiffed).

No need to hand in your badge, I think we have more permies than contractors these days!

[Fraidycat]

Bulls**t! That's not what the uk has turned into, it's what YOU have turned into. The average salary in the uk is around 35k and people manage to happily live with it; if you're saying 100k aren't enough for you, then you've got yourself and yourself only to blame.

£35K?, try getting on the housing ladder with that salary!

My living expenses are 5K a month.
So a 100K salary would leave me with £500 a month left over.
2K of that is a mortgage.
The light at the end of tunnel is that is in 6 years, my mortgage will be paid off.

Then my expenses will be down to 3K a month.

Although with inflation that £3000, could easily be £3500 in six years time, and i doubt my income will keep up.

[GhostofTarbera]

£35K?, try getting on the housing ladder with that salary!

My living expenses are 5K a month.
So a 100K salary would leave me with £500 a month left over.
2K of that is a mortgage.
The light at the end of tunnel is that is in 6 years, my mortgage will be paid off.

Then my expenses will be down to 3K a month.

Although with inflation that £3000, could easily be £3500 in six years time, and i doubt my income will keep up.

Indeed agree with all

Try getting on the London housing market even on a 100K salary

A studio flat in Hackney perhaps


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[SueEllen]

£35K?, try getting on the housing ladder with that salary!

My living expenses are 5K a month.
So a 100K salary would leave me with £500 a month left over.
2K of that is a mortgage.
The light at the end of tunnel is that is in 6 years, my mortgage will be paid off.

Then my expenses will be down to 3K a month.

Although with inflation that £3000, could easily be £3500 in six years time, and i doubt my income will keep up.

Unless you are near retirement then you need to extend your mortgage term to reduce payments.

Since March lot of people including those on very high incomes have found themselves with absolutely no income coming in. Some have managed on their savings and by selling items. You need to work out how you would manage if you had no income for a year due to unexpected life events.

[PCTNN]

£35K?, try getting on the housing ladder with that salary!

So, the average UK salary is £35,000. Are you saying all brits are homeless and don't own a home as it's impossible with that salary?

FYI, that's the exact salary I had when I got on the housing ladder 4 years ago (2 bed flat in the city centre of a major UK city). And I could still live on that salary if push comes to shove. So again, you're full of bulls**t.

Or maybe you have a spolied partner who doesn't work. Again, you've got yourself to blame, but stop generalising and say how bad it has become in the uk. It's not the uk...it's just you.

[PCTNN]

Indeed agree with all

Try getting on the London housing market even on a 100K salary

A studio flat in Hackney perhaps


Sent from my iPhone using Contractor UK Forum

London is not the whole uk

[rogerfederer]

So, the average UK salary is £35,000. Are you saying all brits are homeless and don't own a home as it's impossible with that salary?

FYI, that's the exact salary I had when I got on the housing ladder 4 years ago (2 bed flat in the city centre of a major UK city). And I could still live on that salary if push comes to shove. So again, you're full of bulls**t.

Or maybe you have a spolied partner who doesn't work. Again, you've got yourself to blame, but stop generalising and say how bad it has become in the uk. It's not the uk...it's just you.

So you bought when prices were much lower in 2016. Across the UK 2012, 2013 and 2016 were the years to buy in the past decade. 2019 and 2020 definitely not the years to buy.

"I did something four years ago and, without research, I could do the same now!" - great one PCTNN, any other worthwhile content, or just pish?

[rocktronAMP]

That's quite a hole you've dug yourself.

You might want to look into reining in your costs. As a contractor you've always got to be wary of when you might not be able to put in good rates - anything could change overnight. If you can't survive on a £100k salary then something is very wrong with your life choices. I live in the S.E. and our cost of living is not ridiculous: it's less than what you specify above, and that's for a family of 5 with school fees for 1 of the kids included.

Range cover / Jaguar / BMW top of the range SUV marque?
Pilot license?
Boot license and moorings?
Barge and canal duties?
Personal loan?
10 - 20 Credit cards?
Second home in Andulacia or Tenerife?!
What's that you say? Dudley?

I jest, but honestly with some gritted teeth myself. Time to call in with Martin Lewis and the rest of the money saving trooper brigade, me thinks, if I were stepping into your delicate Armani shoes. There we all were, counting on contracting OUTSIDE IR35 to pay down the debt over the short term, forever. Blasted government!

Season's greetings

[PCTNN]

So you bought when prices were much lower in 2016. Across the UK 2012, 2013 and 2016 were the years to buy in the past decade. 2019 and 2020 definitely not the years to buy.

"I did something four years ago and, without research, I could do the same now!" - great one PCTNN, any other worthwhile content, or just pish?

wrong. 35k is the average salary in the uk now, in 2020. And the housing market has never been busier than lately, so people with 2020 salary can afford to buy houses costing 2020 prices. Too difficult to understand? Ask your support teacher, I don't have it in me to explain this for you.