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Deutsche - FTC with day rate?

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  • eek
    replied
    Originally posted by LetterBox View Post
    I read the OffpayrollUK comment as the bank trying to keep hold or re-secure their permie-tractor base. I don't see FS dealing with Ltd/PSC in any meaningful way ever again. But rates can rise in the FTC-like model as the market adapts.
    One advantage of FTC contracts in the finance sector is they won't be able to use their favourite take a 20% cut or you are out approach that they used to love.

    Leave a comment:


  • LetterBox
    replied
    Originally posted by malvolio View Post
    Day Rates come out ofdiffernt budgets to salaries, so this isn't really an FTC in the traditional sense, although it has all the same benefits. Interesting concept though.

    However in another way it weakens the case. We're trying to get clients to work with deliverables-based contracts as service providers. Having a time-limited engagement is heading in the opposite direction.
    I read the OffpayrollUK comment as the bank trying to keep hold or re-secure their permie-tractor base. I don't see FS dealing with Ltd/PSC in any meaningful way ever again. But rates can rise in the FTC-like model as the market adapts.

    Leave a comment:


  • LondonManc
    replied
    Originally posted by malvolio View Post
    Day Rates come out ofdiffernt budgets to salaries, so this isn't really an FTC in the traditional sense, although it has all the same benefits. Interesting concept though.

    However in another way it weakens the case. We're trying to get clients to work with deliverables-based contracts as service providers. Having a time-limited engagement is heading in the opposite direction.
    I think in the longer term you'll have two models - this FTC based for traditional inside roles (which I suggested a couple of weeks ago) and an outside traditional model where CEST tool has proven outside. Means that Deutsche can run the tool before advertising the role and push it out as the FTC advert or traditional contract advert.

    Leave a comment:


  • eek
    replied
    Originally posted by malvolio View Post
    Day Rates come out ofdiffernt budgets to salaries, so this isn't really an FTC in the traditional sense, although it has all the same benefits. Interesting concept though.

    However in another way it weakens the case. We're trying to get clients to work with deliverables-based contracts as service providers. Having a time-limited engagement is heading in the opposite direction.
    If that is how a company wishes to manage a project it's up to them. And if you are developing in an agile methodology most companies would prefer to sell x days of development with delivery prioritised within the sprints that time has bought...

    You come from an era of waterfall development which really isn't the modern PM way...

    Leave a comment:


  • malvolio
    replied
    Day Rates come out ofdiffernt budgets to salaries, so this isn't really an FTC in the traditional sense, although it has all the same benefits. Interesting concept though.

    However in another way it weakens the case. We're trying to get clients to work with deliverables-based contracts as service providers. Having a time-limited engagement is heading in the opposite direction.

    Leave a comment:


  • LetterBox
    started a topic Deutsche - FTC with day rate?

    Deutsche - FTC with day rate?

    OffpayrollUK comment from Deutsche Bank bod.

    "Actually really pleased with the outcome. Been offered a very respectable day rate on PAYE including Pension, 35 days hols, WFH, same perks as permies. When I enquired why contractors are getting the same Perks as permies I was advised the Bank does not want the flexible workforce to worry or stress about the IR35 situation. The only financial organisation I beleive NOT shafting their contractors! I will happily stay a year or two. Well done DB! WELL DONE! ??????"

    "the Bank does not want the flexible workforce to worry or stress about the IR35 situation" - Yeah, ok, sure, no self interest in this offer at all.

    A lot of detail missing in the above, but knowing also it's a 45 week tenure, this looks to be an arms length FTC with day rate. Poster looks happy with day rate (although I've seen contractors happy with a packet of peanuts and a fruitshoot TBH).

    Could be a useful halfway house model, if a day rate is used it would not step on the toes of those pay bands the FS clients love. Shrink the FTC to 6 month rolling and keep upping the rate, could be something to watch.

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