How did you do this year?

[some guy some where]

How did you do this year?
Gone from earning 100k+ to 40k

What went well:
I learnt some DIY skills.
Didn't lose the house!

What went bad:
Moving jobs in Febuary and new job getting pulled post-offer...
The whole year pretty much...

[ContractorBanking]

Here goes:

How did you do this year?
Worked throughout the year.
Contract extension in Sept, until 5th Feb 21. From Nov, it’s a 3-day part-time contract but can work full time if sufficient work available (and client billable). Under the circumstances, it’s a not a bad compromise.
Approx 220 days billed.

What went well:
Managed a short holiday in Europe before first lockdown.
WFH since March and saved a small fortune not spending multiple daily trips to Costa/Starbucks.
Saved 3 hours on daily round trip commute.
Passed two financial exams during the lockdown.

What went bad:
No summer holiday, luckily wasn’t booked, so not lost out.
Put on a stone.
Need to spend more time trying to win part time or additional contracts to supplement existing part time role.

[David71]

Apart from 7 weeks in the summer non-invoicing due to covid related complications starting a new role overseas I've had a pretty blinding 2020 contracting wise.
Current role is the highest rate I've been on in the UK (on deliverables not day rate) and just found I've won the tender for the R2 part of the project which starts next week - there wasn't even a 'negotiation' about my pricing
End client has approved everything, just waiting for the framework provider to finish up the paperwork and purchase orders.

Outside of contracting, like everyone else it's been a pile of...... Drinking too much, 3 kids being typical 'teenagers' and living in Wales means we have worse government covid rules and management than anywhere else in the world.

[ronanm]

Congrats - £105k is an AMAZING perm salary, even when compared to your day rate. What area do you work in?

My day rate was higher but my perm offers are in the £80k range, which is pretty much what I was earning back in 2003! To be fair, I'm happy with £80k because of my lack of saleable tech skills at this time. There's also the 'problem' of earning more than £100k and losing your personal allowance. My investments will kick me well over that mark so I need to look into some heavy salary sacrifice scheme.

Thanks. I genuinely didn't know if it was good or not but, having looked, realise 105k is quite a bit more than most in my area.

I am a London based Tech Data BA in Financial Services with about 20 years experience with all types of financial firms, mainly in data projects.

In a sellers market I wouldn't be going into the perm role as have some concerns about the progression. I have been contacted about perm roles previously paying more than that and was asked to go perm at clients previously who'd have paid more than that, but I would never have considered them tbh as thought I would always be a contractor

[GhostofTarbera]

No holidays means a whopping 254 days will have been billed by the 31st Dec.

Good bits; the money, obviously, and the chance to stuff some away before closing down. Being lucky enough to have a pool & gym at home.

Bad bits; Cancelled holidays, cancelled social life, COVID generally doing my head in.

Sorry for your loss

Thoughts and prayers


Sent from my iPhone using Contractor UK Forum

[Lockhouse]

7 figure loss

I am just going to wait 30 years & sell my inventory as classics having depreciated them over a few years. Or I might just be ****ed and need to sell the house.

Stars of the show: M760iL 80k depreciation, A8 50L 85k depreciation. In one year.

Genuinely sorry to hear this.

[Lockhouse]

No holidays means a whopping 254 days will have been billed by the 31st Dec.

Good bits; the money, obviously, and the chance to stuff some away before closing down. Being lucky enough to have a pool & gym at home.

Bad bits; Cancelled holidays, cancelled social life, COVID generally doing my head in.

[ChimpMaster]

Looks like I will have billed for most of the year having worked all through it and taken a couple of days off on £650/day. Have been offered a perm role elsewhere which I am going to take as have option of working remotely permanently at £105k. Have paid 3 years pension into Sipp resently so should have c. 220k after closing down myCo. My mortgage is paid off, so think am not in too bad a place, although going perm makes me shudder a bit. Nonetheless, too much uncertainty with Brexit, covid and all else.

Congrats - £105k is an AMAZING perm salary, even when compared to your day rate. What area do you work in?

My day rate was higher but my perm offers are in the £80k range, which is pretty much what I was earning back in 2003! To be fair, I'm happy with £80k because of my lack of saleable tech skills at this time. There's also the 'problem' of earning more than £100k and losing your personal allowance. My investments will kick me well over that mark so I need to look into some heavy salary sacrifice scheme.

[SimonMac]

256th and final day of the year today

[mattfx]

How did you do this year?
Billed 220 days, started gig in week 1 of lockdown 1, best rate so far in my 3 years contracting.


What went well
Bought a new house, picked up a new client retainer I can service alongside my contract and another ad hoc client in the pipe on the hook for some migration work. Out of 70 competitors I finished 25th in my rookie racing season (single make; MK1 Mazda MX-5). Leased a brand new Audi Etron - first ever brand new car.

What went bad
Wedding cancelled; Mrs MattFX to be shed many tears. 2 dead relatives. Put on about 2/3rds of a stone over the year due to no team sport. House purchase was awful. Campervan blew up and cost £3.5k to fix, race car blew up and cost £3k to fix, daily drive car blew up and cost £2k to fix. Literally never had so much bad car luck in my whole life.

Overall: It's been an expensive, challenging year.