Chasing first contract

[quackhandle]

You've been chasing a pimp for three weeks?

AYSYACOTBAC?

As Mal says it's a career choice, you are still in the permy mindset.

qh

[BrilloPad]

I knew agencies are blood sucking parasites, but is it normal to be totally left in the dark, in fact actively avoided when a "sure thing" collapses?

On the other hand, am I being too hasty and advertising/interviewing for a not-yet-signed-off position is normal practice?

and 3+ weeks a reasonable time-frame?

Any advice or suggestions welcome!

Yes

Yes

time-frame can be 1 second to months.

Even after sign-off it can take months to get onboarded.

You were unlucky. Keep trying.

[malvolio]

I appreciate the advice malvolio, but respectfully I was not asking whether or not I should contract, my question was about the behviour of the agency. Wishing to switch to contracting is not a decision I have taken lightly, nor failed to research.

I'd be interested in your workings behind how a 350/day would net similar as a 36k job inside IR35, or 40k outside?

£350 a day is about £44 an hour so is equivalent to a £44k salary (very very approximately) if you deduct all the hidden costs that a contractor bears to convert a day rate into a comparable net income for a permie role.

Inside IR35 you can't apply any of the usual tax an expenses savings that are available to an outside IR35 gig, nor will you have the ability to save untaxed income for bench time so knock off another 30% to compensate for those (the average uplift people are demanding to balance out the Public Sector IR35 rules), bringing your theoretical gross back to about £31k. so you would end up worse off.

It is not a simple estimate and is looking at real earnings over a few years contracting, not a six month gig.

It is also, I repeat, very rough and ready and obviously you can work it all sorts of ways - but it does add a dose of reality.

But then, if you have done all the research you would know that already...

As for agencies, as has been said all they are interested in their income and bonus in a hugely stressful and competitive market; you are merely cannon fodder.

[purple banana]

You've been chasing a pimp for three weeks?

AYSYACOTBAC?

As Mal says it's a career choice, you are still in the permy mindset.

qh

Well if the requirement is to use patronising acronyms that add no value to the conversation - Y,IAS. Thanks.

[fatboyslim]

I think the role is gone or been shelved for now.
Many a time the agent is not at fault as the company does not give any finite feedback(say rejection), so because they are kept hanging, the agent keeps you hanging.
I would say move on, and please don't judge the agent harshly. He will chase you if there is any news, there is little chance that it will slip his mind.

[BrilloPad]

I think the role is gone or been shelved for now.
Many a time the agent is not at fault as the company does not give any finite feedback(say rejection), so because they are kept hanging, the agent keeps you hanging.
I would say move on, and please don't judge the agent harshly. He will chase you if there is any news, there is little chance that it will slip his mind.

Indeed. And often they thing you are desperate so will try to take a bigger cut.

[tarbera]

Until you

Hi all,

First time poster in here, looking to break into the contracting market after building a career as a data analyst. Currently got a permie role, it is secure, with people I like and only 20mins drive from home. But, I am getting a bit bored of the landscape and feeling somewhat undervalued on 36k, especially now I frequently see contractor jobs advertised I could do in my sleep for £350+ per day. Even affected by IR35 now or in the future, it would still be a huge pay rise.

Long story short, I got lucky (or so it seemed) and successfully telephone interviewed with ClientCo for one of my first applications. Only after being told the gig was mine (6 months, £400/day, commutable and remote working available) was I told the position hadn't even been signed off yet!

3 weeks later, (as well as few other no-go applications elsewhere), I am sick to death of chasing the AgentCo. She constantly ducks my calls and ignores my e-mails. On the rare occasion I have made contact (one of which where she returned a missed call from an unfamiliar number - sneaky!) - she tells me things are progressing positively and she'll call me back in x hours/tomorrow - and of course never does.

I have begrudgingly accepted it ain't gonna happen, but I really want to hear her say it! Not least to put an end to the last shreds of optimism I have been clinging on to, but I might also share a few choice words about my experience dealing with her and her company.

I knew agencies are blood sucking parasites, but is it normal to be totally left in the dark, in fact actively avoided when a "sure thing" collapses?

On the other hand, am I being too hasty and advertising/interviewing for a not-yet-signed-off position is normal practice, and 3+ weeks a reasonable time-frame?

Any advice or suggestions welcome!

are sitting in the clients office, treat all as "Possible Contracts" - not really the agents fault, he has nothing to tell you, the client is probably looking for options or signoff

[billybiro]

The other thing you're missing is that £350 a day is about equivalent to what you're on now when it reaches your bank account if you're inside IR35. Outside IR35 is about £40k-ish, if you get close to working a full year, which you won't; you'll likely only manage around 200 billable days.

Are you sure about that?

[BrilloPad]

you'll likely only manage around 200 billable days.

Everyone on CUK seems to do way more than 200.

Eh? Whats that you say? They are lying! The bounders.....

[purple banana]

Thanks to all for the constructive feedback received so far. However I find it a real shame there is such negativity thrown around by posters with thousands of posts to their name. Considering this ought to be a place for contractors to share their wealth of knowledge and experience - I can only assume they are frightened of the competition and frequent here to scare newbies away rather than offer any support or encouragement??

As I mentioned in my OP, I am a data analyst by trade, and knocking up a calculator for plugging these sorts of number into was one of my first ports of call when I started weighing this option up. Not to mention the wealth of online information & calculators available on this site and others.

Whilst I appreciate malvolio's "dose of reality" - this is no more representative than suggesting I might never get that first contract, therefore my earnings are £0, or I might land a contract that get's extended indefinitely. A good contractor friend of mine is currently knocking on 3-years into a 3 month contract.

I have done my own sums and a £350/day contract - even inside IR35 - a conservative 200 billable days and knowing what my expenses will be comes out at £3311 take-home per month. A far cry from the £2276 I currently receive as a permie. To suggest this increase in take-home is negligible or not worth pursuing is frankly ridiculous.

In fact, to break-even and match my current take-home would require billing for just 130 days - funnily enough about 6 months - coincidentally the length of that first contract I was going for.

So forgive me if I take advice along these lines with a whole vat of salt!