Running back to permie land

[hugebrain]

You are comparing apples and pears. Salary also depends on the sector you are in. Retail is low end of the market but it is what it is, I tried changing sectors and was not successful.

‘A small fraction ‘ are you contracting or perm? Huge difference.

Contractor obviously, but there’s not a huge difference in this tale of woe, 300 is about 75 k isn’t it?

I’d assume project managers and global portfolio managers (whatever they are) get paid more than us lowly grunts.

Maybe it’s because of my expertise in big data and devops?

[eek]

Contractor obviously, but there’s not a huge difference in this tale of woe, 300 is about 75 k isn’t it?

I’d assume project managers and global portfolio managers (whatever they are) get paid more than us lowly grunts.

Maybe it’s because of my expertise in big data and devops?

how many days do you work given there are only 260 week days a year?

It's likely to be 227 or so maximum, more likely 200 and 200 X £300 a day is £60,000.

And those 27 additional days would very accurately match the 13.4% Employers NI deduction created by an inside IR35 contract.

[hugebrain]

how many days do you work given there are only 260 week days a year?

It's likely to be 227 or so maximum, more likely 200 and 200 X £300 a day is £60,000.

And those 27 additional days would very accurately match the 13.4% Employers NI deduction created by an inside IR35 contract.

I said about. I always just double the hourly rate. I don’t do inside IR35 contracts. I imagine expenses (e.g. travel or rent) makes up a few extra days and maybe tax is slightly lower than perm (I’m not sure any more, it seems to go up every year).

[fullyautomatix]

Why are some people so cynical about the job title and the salary ? It is definitely possible and if you have been in the industry for a while you know for certain how things work. All sorts of people with nil experience get into senior leadership positions and vice versa, it happens in every company. Salary also depends on quite a few variables but generally if a company is desperate to fill a position and you are the only candidate available and you negotiate hard, you can get it. In fact, Global portfolio manager, OP could have gone for 100k and got it.

[Old Greg]

I said about. I always just double the hourly rate. I don’t do inside IR35 contracts. I imagine expenses (e.g. travel or rent) makes up a few extra days and maybe tax is slightly lower than perm (I’m not sure any more, it seems to go up every year).

If you're going to use an "about" figure, why not use a more realistic figure?

[Old Greg]

Why are some people so cynical about the job title and the salary ? It is definitely possible and if you have been in the industry for a while you know for certain how things work. All sorts of people with nil experience get into senior leadership positions and vice versa, it happens in every company. Salary also depends on quite a few variables but generally if a company is desperate to fill a position and you are the only candidate available and you negotiate hard, you can get it. In fact, Global portfolio manager, OP could have gone for 100k and got it.

It sounds like a small-ish company (nothing wrong with that). Otherwise it seems like a low salary for the job title.

[hugebrain]

If you're going to use an "about" figure, why not use a more realistic figure?

Because twice the hourly rate is the closest I can calculate to get to a permanent salary. If you are saying it’s slightly less than double then what figure should I use?

I imagine a 100 an hour contract is worth at least as much as a 200,000 salary, especially since the permies would be paying 60-70% taxes on some parts of their income.

Feel free to correct me - assume 15,000 or so expenses, and anything over 100,000 is retained in the company so the contractor still gets his tax allowances.

In any case, the point I was making is OP’s contract rate wasn’t much different from his permie rate. If I slightly overestimated the conversion factor then that makes me even more right!

[Lance]

If a junior PM is made a global portfolio manager then one of the following is happening.

A) the job titles don’t reflect the actual job, or
B) the junior PM isn’t a very good one, and the company want a cheap portfolio manager.

Other than being in IT, the only other common theme to those two roles is the lack of technical skill required.

Either way the OP has work for the foreseeable future so that is a good thing.

[Old Greg]

Because twice the hourly rate is the closest I can calculate to get to a permanent salary. If you are saying it’s slightly less than double then what figure should I use?

I imagine a 100 an hour contract is worth at least as much as a 200,000 salary, especially since the permies would be paying 60-70% taxes on some parts of their income.

Feel free to correct me - assume 15,000 or so expenses, and anything over 100,000 is retained in the company so the contractor still gets his tax allowances.

In any case, the point I was making is OP’s contract rate wasn’t much different from his permie rate. If I slightly overestimated the conversion factor then that makes me even more right!

Why on Earth are you now talking about 200k salaries and 60 to 70% tax on parts of their income vs 100 per hour, when we were discussing 300 pd?

[hugebrain]

Why on Earth are you now talking about 200k salaries and 60 to 70% tax on parts of their income vs 100 per hour, when we were discussing 300 pd?

I just thought it would be easier with round numbers (and maybe more relevant for most contractors).

I imagine on a smaller salary the contractor would have a greater advantage because the expenses would be a greater proportion of earnings.

If you actually know how to do the calculation you could show it for 37.50 an hour and 100 an hour and let me know if two is the right factor to use for each.