How Low Can You Go?

[hobnob]

I would love to get some hours somewhere to get some money in and relieve the boredom but I had my hip replaced before Christmas so would struggle to stack shelves, plus, as said elsewhere, the local Tesco would take one look and realise, correctly, I would be off when the next opportunity in IT appeared.

One option is to look at seasonal/short-term work. When I was a teenager, I delivered Christmas post for a couple of weeks, but I don't know how many people still send cards nowadays, and that might not be ideal for you.

As another option, you could get paid work as a poll clerk or count assistant at a local/general election. (I'm sure I mentioned this a while back, but I can't find the post.) It's low paid, i.e. only just above minimum wage, but it's also only for a day or two, so they're not going to care about your long-term loyalty. Depending on where you live, you might have local elections in May, so you could apply for those roles now.

[hobnob]

And in a minimum wage employee role, your employer pays the ERNI; in a contract I believe it comes out of that £14.54. At 13.8% that's roughly £2.00ph, meaning that you'd be on the employee equivalent of £12.54, i.e. 43p above minimum wage.

The original email said "Rate £14.54/Hr through PAYE". I assume that means it's the PAYE rate (your gross salary) rather than the umbrella rate, i.e. you'd have income tax and employee NI deducted, but not employer NI.

However, as a related issue, I was thinking about holiday pay. If you do get a role through an umbrella company, and they have to designate 12.07% of your salary as holiday pay (either paid upfront or held back for your days off), would your basic rate then drop below minimum wage? Reversing the logic, and playing around in Excel...

For the next month (up until 5th April):
* If you get £11.44/hour (minimum wage) as basic rate, then an extra £1.38 as holiday pay, your total gross income would be £12.82/hour.
* Assuming 37.5 hours/week, that's a gross income of £480.78/week.
* For that weekly income, employer's NI is £42.20, apprenticeship levy is £2.40, and my umbrella takes £25/week. So, that's an extra £69.60/week.
* The agency would need to pay the umbrella company £550.38/week.
* That corresponds to £14.68/hour (or £110.08/day).

From 6th April onwards:
* If you get £12.21/hour (minimum wage) as basic rate, then an extra £1.47 as holiday pay, your total gross income would be £13.68/hour.
* Assuming 37.5 hours/week, that's a gross income of £513.15/week.
* For that weekly income, employer's NI is £62.58, apprenticeship levy is £2.57, and my umbrella takes £25/week. So, that's an extra £90.15/week.
* The agency would need to pay the umbrella company £603.30/week.
* That corresponds to £16.09/hour (or £120.66/day).

So, that hopefully puts a lower limit on the rates that should be offered.

NB Even if you're on a zero hour contract, you're still entitled to the same number of statutory days holiday each year.

[TheDude]

I am currently on my lowest ever day rate but it is outside IR35 and pretty much fully remote with two (consecutive) days required in the office per month.

The rate is 50% lower than my previous inside gig but looking at the current market I am not complaining.

I do wonder if I will ever return to banking which has been my bread and butter for the past 15 years.

[Dorkeaux]

I am currently on my lowest ever day rate but it is outside IR35 and pretty much fully remote with two (consecutive) days required in the office per month.

The rate is 50% lower than my previous inside gig but looking at the current market I am not complaining.

I do wonder if I will ever return to banking which has been my bread and butter for the past 15 years.

That shows good flex.
By taking what's currently possible, you are definitely improving the odds of (eventually) scoring a gig closer to your core domain.

Little worse that thinking "I'm worth X!" when the market doesn't agree. Trying to move the market with the force of your will is for schmucks.
It should be like surfing the economy, Dood.

[SussexSeagull]

I am currently on my lowest ever day rate but it is outside IR35 and pretty much fully remote with two (consecutive) days required in the office per month.

The rate is 50% lower than my previous inside gig but looking at the current market I am not complaining.

I do wonder if I will ever return to banking which has been my bread and butter for the past 15 years.

Wise move. Hopefully covers your outgoings and fills a gap in the CV.

[oliverson]

Software Engineer

Duration: 6 months

Location: London, Greater London, United Kingdom

Salary: £330 per Day Inside IR35

Work Arrangement: Hybrid (1-2 days a week in the office)

Scala and AWS !!!!!


Jeez!!

[eek]

Software Engineer

Duration: 6 months

Location: London, Greater London, United Kingdom

Salary: £330 per Day Inside IR35

Work Arrangement: Hybrid (1-2 days a week in the office)

Scala and AWS !!!!!


Jeez!!

Don't worry I got one today for £160 inside IR35 with 3 days a week in Cardiff.

Granted it was NHS but agencies should be telling people that offers like that will just create bigger problems down the line because whatever is delivered won't be usable.

[northernladuk]

Don't worry I got one today for £160 inside IR35 with 3 days a week in Cardiff.

Granted it was NHS but agencies should be telling people that offers like that will just create bigger problems down the line because whatever is delivered won't be usable.

Offshore rates onshore. What could go wrong?

[eek]

Offshore rates onshore. What could go wrong?

The Agency was Hays - now granted its probably a recruiter who usually does something else but you would hope someone would say don't send things like that to IT consultants..

[edison]

Received an email from an agency about a contract Business Partner role at a council. I'd expect the day rate to be £400-550 in today's depressed market. My eyes watered when I saw the rate was £17ph.

Then I read the details more carefully and it was an 'Enterprise' Business Partner that was more focused on council business development. Phew!

Been on the bench since new year and not many opportunities have come up yet. My day rate is usually around 750-900 but now looking at roles c. £500-600 as much from getting bored as financial necessity.