Is it worth moving to contracting?

[Elliegirl]

The same foolhardy attitude got all those poor people in trouble with this idiotic Brexit. Yeah let's jump off the cliff then we'll think if we have the parachute with us...

You sound more like someone selling the tapes of Tonny Robbins

Oi Skysies! lay off Tonny Robbins! we need more of his positive attitude to make us great again!

[user3284]

Some good advice all round here but also quite mixed in terms of going contracting or not (just to mention I'm a web developer in london).

Its similar to conversations I've had with a friend, who said go for it, and a colleague, who said wait until next april because they know someone within HMRC who is working on the system to get the new changes in for the private sector and everyone is waiting to see what will happen.

Am still thinking more towards contracting so will probably got for it and see how it goes, even though there is some risk.

[skysies]

Some good advice all round here but also quite mixed in terms of going contracting or not (just to mention I'm a web developer in london).

Its similar to conversations I've had with a friend, who said go for it, and a colleague, who said wait until next april because they know someone within HMRC who is working on the system to get the new changes in for the private sector and everyone is waiting to see what will happen.

Am still thinking more towards contracting so will probably got for it and see how it goes, even though there is some risk.

Ok, good to see there are still enthusiasts ready to jump into it. But what's your main motivation behind it? Money? What's your perm salary compared to the daily rate? Are you going from let's say £60K per year to £600 per day? If that's the case, then yeah go for it.

[Elliegirl]

Ok, good to see there are still enthusiasts ready to jump into it. But what's your main motivation behind it? Money? What's your perm salary compared to the daily rate? Are you going from let's say £60K per year to £600 per day? If that's the case, then yeah go for it.

Well something similar happened for me. This is the most encouragement you will get from skysies so seize the day!

[PermMCCon]

I hate to be a "gloom and doom" guy,

But I continue to be amazed at the number of people who want to leave their well paid jobs to become contractors while not really being sure of "what they want to do"... so just to be clear:

- Brexit; yes this brings new contracting opportunities, but also shuts others down as companies tighten their belts until they know what will happen. This one will bring uncertainty for years

- UK Elections; same as above, companies tightening belts even after they know who wins, since we are not sure what that government will do in the short term

- Government crackdown on contracting perks; yes, "Wolf of Wall Street" was a funny film but it does not represent the life of an average contractor, as much as permies would like to think it does (yes, this was a joke that came my way once). Every contractor from the 1980s will rave about how good it was then. Well, all good things come to an end and anyone coming into contracting now should note that their tax burden (on top of paying insurance, accountant etc) will not be a mere 5% or 10%, it will be considerably larger than that. perhaps not the usual 40% that we all pay above c£41k when a permie, but not too far away considering all the changes and no doubt future changes the government will bring. Not to mention the 2 year rule re expenses and everything else.

Know yourself; I did contracting for 5 years and loved my Ltd company. However, I went in with a war chest and straight from permie to a contract the next day which was in the bag before I quit. If you are the type of person who is uncomfortable not knowing what may happen tomorrow (ie do not forget your contract is only as long as your notice period, not your contract length) then you should not be a contractor. Neither should you move just for the money, I have seen a number of contractors get into issues as they enjoyed the money but then got into 2-6month contract breaks which basically meant they earned as much or less than their old permie version.

Flexibility; to me this is an incredibly important aspect of being a contractor at the higher rates and a main reason why I think I had no contract breaks. Be prepared to work from various locations at short notice (I even had to work in different countries at short notice), going wherever the contracts needed me, working weird hours where needed and being generally a go to guy. Treat every contract as you would a beloved career, work damn hard and ensure you deliver and more.

Contracting is hard work. It is not an easy option. I found it more stressful than being a permie (my personal view). Yes the monetary gains were huge, I will give you that. I would not live in the house and location I am today if I had not gone contracting for those very profitable 5 years...

But please do not assume it is some kind of easy road to an endless goldmine. Contractors work hard and if they get ill? Tough! Family ill? Tough! Long holiday with the family or mates while on a contract? Hahaha, never! And so on. Sacrifices will need to be made.

Everything in life has its advantages and disadvantages, don't look at contracting with rose tinted glasses.

If you still want it? Then go for it! As much as I give all these warnings, I had a great time

[MrMarkyMark]

17 years and counting for me.

Would I go contracting now, well definitely not on the small war chest I started out with.
Contracting has given me more time off and accumulated wealth than I could ever have attained as a permy.

However, I am a true SME, my specialist tech has not changed in name in that time, although was bought by SAP.
This means I get more direct approaches for work, some from a tech forum I have written for, for many, many years.

[SeanT]

This means I get more direct approaches for work, some from a tech forum I have written for, for many, many years.

I never knew el reg contribtards had it so well

[MrMarkyMark]

I never knew el reg contribtards had it so well

I said offered, I didn't say I took any of it

[kaiser78]

17 years and counting for me.

Would I go contracting now, well definitely not on the small war chest I started out with.
Contracting has given me more time off and accumulated wealth than I could ever have attained as a permy.

However, I am a true SME, my specialist tech has not changed in name in that time, although was bought by SAP.
This means I get more direct approaches for work, some from a tech forum I have written for, for many, many years.

If you are good enough in your chosen field and have a good track record then be brave and make the move.
We all did at some point and for me 12 years on, wish I had done it much sooner.

[MrMarkyMark]

If you are good enough in your chosen field and have a good track record then be brave and make the move.
We all did at some point and for me 12 years on, wish I had done it much sooner.

I moved up to London with just 3K, no contract, fresh from Perm and with rent to pay.
After 3 months I scored my first one and went from there.

Pretty sure that would be difficult to do these days, however not impossible!