Day Rate Conversion Calculators - How Accurate Are They ?

[hugebrain]

Regardless of how much you want to whinge about the OP, I would be interested in the answer to the question.

One complication is the inside IR35 rate can mean lots of different things (with or without employers NI, umbrella fees, holiday pay etc). The figure in the contract can be very different from the figure in the job ad.

So if there’s a simple answer to what is the perm rate equivalent to an inside daily rate of a specific type, then what is it? As the OP requested (but was ignored) you don’t need to worry about all the non-financial differences.

[WTFH]

Regardless of how much you want to whinge about the OP, I would be interested in the answer to the question.

One complication is the inside IR35 rate can mean lots of different things (with or without employers NI, umbrella fees, holiday pay etc). The figure in the contract can be very different from the figure in the job ad.

So if there’s a simple answer to what is the perm rate equivalent to an inside daily rate of a specific type, then what is it? As the OP requested (but was ignored) you don’t need to worry about all the non-financial differences.

The OP posted his theory in the first post, ignoring the "non-financial differences" of pension contributions, etc.
Would you like a different calculation to his?

[malvolio]

The OP posted his theory in the first post, ignoring the "non-financial differences" of pension contributions, etc.
Would you like a different calculation to his?

I think my answer in one of the older threads on this subject is probably germane to this discussion. It was "Ask you accountant. If he's any good, his answer will be 'What do you want it to be?' "

[eek]

One complication is the inside IR35 rate can mean lots of different things (with or without employers NI, umbrella fees, holiday pay etc). The figure in the contract can be very different from the figure in the job ad.

?????

Agencies will only advertise 1 of 2 rates - an all in assignment rate (i.e. the highest rate they can plausibly get away with) or a PAYE rate (which is what they are supposed to use but here advertising standards can't be arsed to police job adverts).

PAYE rate is what you pay an employee for an hours work so it will exclude / be after employer NI, holiday pay (which would be paid when you leave or take a holiday) and a 3% pension allowance has been deducted.

Assignment / Umbrella rate will be before Employer NI, holiday pay, umbrella costs because the whole point is to get the headline figure to be the highest figure possible

[jainnode]

he's already been banned as londonPM, for the same tedious drivel.
https://forums.contractoruk.com/busi...ml#post2823372

[WTFH]

he's already been banned as londonPM, for the same tedious drivel.
https://forums.contractoruk.com/busi...ml#post2823372

He's already been banned under at least one other user name (back in 2015), has another user name that he set up in 2015 but never used, and is known on other websites as well

[NowPermOutsideUK]

April:
https://forums.contractoruk.com/busi...ella-rate.html
January we deleted 3 of his posts in this thread for the same thing:
https://forums.contractoruk.com/busi...g-world-5.html
December 2021:
https://forums.contractoruk.com/busi...-contract.html
November 2021:
https://forums.contractoruk.com/busi...m-opinion.html

The OP trolls the professional forums every few weeks to create or derail threads to ask everyone if they agree with his latest opinion of what daily rate is equivalent to what permanent salary. He always makes assumptions, leaves out important parts of the equation, etc.
I'm not sure if this is actually part of a job he does, trying to find out what contractors think/earn, or what.

Next time he goes on about rates will be a permaban.

For seven years since 2015 I have been trying to achieve the objective above - My determination and perseverance has not paid off. So I am guilty as charged by WTFH and accept my life sentence to solitude confinement

So far this thread has moved away from a simple (quite common question which others have expressed an interest over) to personal insults and humiliation. It also questioned whether rates were important or what the individual burn rate of money was for that person. A most friendly bunch of colleagues who I am pleased to call friends for life : )

Perhaps the OP (me) is keen ambitious and regularly questions his net worth and wants to compare his net worth given that IR35 is so new - In the same way that landlords think about rent increases dozens of times a day I think about my salary and equivalent perm numbers many times a day is my defence.

I leave with my tail tucked between my legs still pondering how when you have interest in a role for someone who you have worked for and get the chance to propose perm / inside numbers.

The jury have concluded that discussion on rates in a bullish economical environment on a contractor forum is not appropriate - Instead we can look forward to Brexit and Boris posts.

[WTFH]

Thread closed at flouncers request.
Next time please put this in the General section, where banal discussions occur about Brexit, Boris etc.