Is it worth moving to contracting?

[stek]

Assume about 35%, but every country is different.

I use this a base for further research. Show CT, IT and VAT

https://en.wikipedia.org/wiki/Tax_rates_in_Europe

[Elliegirl]

As for the OPs question, who really knows? he/she hasn't mentioned their skill set, so harder to tell. Skysies is preaching hell fire and Fat Jock took the leap and will find out somewhere down the line whether it was a good or bad idea. I became a contractor by accident. If I had thought about it in any detail, particularly the possibility of being benched, I might not have gone for it. Contracting has changed me in so many good ways that have nothing to do with the financial rewards. A perm job is my worse nightmare.

[heyya99]

Do it and do it now. Like buying a house, the best time to buy is always now. Same with contracting. You'll be reading these forums in 3 years, getting the same wait-and-see advice. If you're strong and experienced in your field, and have savings as a back up, then I say jump.

Yes, there might be changes en route, but when will that be? 3, 5, 10 years? In the meantime, you could have take the leap and made hay whilst the sun is shining. When I left perm to start a contracting career, the advice I got in here was that I was a fool. That was 7 years ago and I've made a decent whack out of it and never once looked back. That's not to say the advice wasn't sound, but that's all it was - advice.

Be your own person; it sounds like you've your mind set on doing it and are letting fear kick in. Don't let fear control you.

[skysies]

Do it and do it now. Like buying a house, the best time to buy is always now. Same with contracting. You'll be reading these forums in 3 years, getting the same wait-and-see advice. If you're strong and experienced in your field, and have savings as a back up, then I say jump.

Yes, there might be changes en route, but when will that be? 3, 5, 10 years? In the meantime, you could have take the leap and made hay whilst the sun is shining. When I left perm to start a contracting career, the advice I got in here was that I was a fool. That was 7 years ago and I've made a decent whack out of it and never once looked back. That's not to say the advice wasn't sound, but that's all it was - advice.

Be your own person; it sounds like you've your mind set on doing it and are letting fear kick in. Don't let fear control you.

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

[slogger]

A lot is down to personality - initially the cash was an incredible motivator - however the cash advantage has narrowed a lot or even dissapeared.

For me its more about lifestyle - I've gone permie a couple of times over the last 25 years and always regretted it deeply - it just depresses me - I had to do a lot of extra work - in my mind for free; also HR reviews etc, bonus deliberations - just feel bad even typing it.

What I'd suggest is maybe applying for 10 contracts over the next couple of weeks, see what sort of response you get, see what sort of rates there are - if you get interest/offers and good rates then I'd be tempted to jump; if like for a lot of skills at the moment your market is dead then stay put, live frugally, save up a warchest, up your skills and dip toe in water later.

[fatJock]

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

Some of us just like to think the glass is half full.

I've lurked on this forum for years and there's never been a good time. It's hardly like the OP can't go back perm if it doesn't work out?

Better to have a go than to always wonder "what if".

[swamp]

Why does anyone assume there is more job security in permanent work versus contact?

[northernladuk]

Why does anyone assume there is more job security in permanent work versus contact?

I don't think many do in the way you think. You just aren't out of work every 3 months and don't have the potential to get into cash flow issues as quickly in perm so a little more protected from the variations contracting can have. I think that's what they mean.

[fatJock]

Why does anyone assume there is more job security in permanent work versus contact?

Exactly. That has always amused me having seen the endless flexing of staff in the commercial environment. Permanent is no more perm these days than an elongated notice period.

To be fair, not having those notice handcuffs in the contractor market (for me at least) is a totally positive thing.

Agree with NLUK that there is the risk of cash flow etc. but with the risk comes the reward, can't have it both ways.

[NorthWestPerm2Contr]

All depends on how much of a "business person" you are. Can you continuously re-invent yourself, adapt to new skills & technologies, prove yourself under pressure etc.

Contracting is somewhere between employment and having a fully fledged consultancy, so have a think if it's really for you.