Contracting as a PM - whats it like out there?

[Charl1e brown74]

Hi,

Currently a permie seriously wanting to become a contractor, (be my own boss, build a client base, earn more than the 21K I currently get) been reading the site for a month now and read loads of articles, (and still not put off!)

Next step is to find some agencies and get their advice, but first I think some ‘insider’ advice is needed.

I have four years experience of project management, of which one year is as PRINCE2 practitioner and 18 months Microsoft project (intermediate level).

Main achievements (Project managed all of the below):

•&nbsp &nbsp &nbsp &nbsp Migrated stock control system from third party software to an in-house system.

•&nbsp &nbsp &nbsp &nbsp Oversaw implementation of adding 2 new countries to company portfolio (we now operate in 15 countries).

•&nbsp &nbsp &nbsp &nbsp Migrated 15 counties credit card merchant accounts to new online acquirer.

•&nbsp &nbsp &nbsp &nbsp Successfully implemented and delivered new functionality on 5 company product launches.

•&nbsp &nbsp &nbsp &nbsp Project managed the VAT on e-services project (VOES).

•&nbsp &nbsp &nbsp &nbsp Developed functionality to specify shipping by warehouse by item and country. (Company has 3 warehouses in Europe).

What chance do I stand of getting a first contract as a project manager?

Live in Milton Keynes, very willing to commute to central London.

Many thanks

%%WORD150%_brown74

[WageSlave1]

Your PRINCE Practitioner certification will certainly stand you in good stead, and at £21k you are massively underselling yourself.

As a PM, how many staff have you managed? That's something you need to consider; the more the better. What size budgets have you controlled? Again, this is something agents and clients will be keen to know. Do you see yourself as a technical or strategic PM?

Central London PM positions tend to be in government, which is a large market, although you do tend to be pigeon holed afterwards. If you fancy government contracting then Security Clearance is really a pre-requisite.

Market PM rates tend to range from £300 to £1,500 per day, depending on experience and how well the PM markets their skills, although at the moment rates are pretty depressed and don't seem to rise above £600 for a strong programme manager.

[Underscore]

You could get £400 per day in Edinburgh right now. That is a bit low as its your first contract - renewals will get you up to 500 in no time.

If you can't get 500 in London the market must be stuffed.

[Charl1e brown74]

Wow! I really am under selling myself!! Going to polish up the CV, market myself correctly and tackle some agencies.

The government route sounds interesting, as does getting security clearance!

Thanks guys

[BlasterBates]

Before you get carried away with the £400-£500, you will find you are up against stiff competition.

Be realistic about your experience and what you can get.

I doubt whether you're going to be jumping from 21K to £500 a day, not immediately anyway.

Look carefully at the job adverts, you're looking for a "small" PM job for a junior with similar skills. PM contracts vary enormously depending on what you're managing.

[Underscore]

Blaster - the boy has already ran 6 projects - why should he look at junior roles? Graduates take on junior roles.

Lets be honest PMing is a piece of pi$$, and if they guy can't do it after 6 projects then he will be quickly found out and released.

I've met about 500 PMs in my life - at least 50% are rubbish and most of them were on 400 per day.

[BlasterBates]

I just question the £21 grand ! I personally don't know many companies that pay project managers on critical complex systems on £21 grand !!

Probably I presume its a first job, and how many years experience ? That's what really counts. 6 projects is good but how long did they last. I've done projects that last 2 months.

My view of a Project Manager on £500 a day would be someone with about 10 years experience.

Still of course he may easily be able to get £500. Its just I've seen PM roles on considerably less than that.

[Underscore]

agreed.

[achilles]

The standard rate for a competent PM is £500 / day on a good market.

[thunderlizard]

It's industry specific experience that makes all the difference with PM rates.

tl