Urgent: Do I Leave Perm 4 Immediate Contract!?

[TheFaQQer]

1) Should I even consider going into contracting in this market?

Yes - the role is there, you want to do it, so seize the day and do it.

2) I would have to commute some days and stay over on other days meaning a lot more effort compared to my current permie job (10 mins drive in the morning). Is it worth it? Both financially and practically?

Yes - I do it all the time.

3) I don't have any annual leave left, should I call in sick for a couple of days and see how it goes or should I just tell them I am quiting and go for it?

Quit and go for it - there's no time like the present.

[thunderlizard]

1) Should I even consider going into contracting in this market?

Yes. For small companies such as ours, there's no such thing as "the market". It's all about what you can get personally.

2) I would have to commute some days and stay over on other days meaning a lot more effort compared to my current permie job (10 mins drive in the morning). Is it worth it? Both financially and practically?

It depends on the definition of "some days". And "decent rate (though not amazing)".
Well, lots of people manage it OK anyway.
But remember to define your parameters more accurately in future if you want any of your projects to succeed.

3) I don't have any annual leave left, should I call in sick for a couple of days and see how it goes or should I just tell them I am quiting and go for it?

I assume you have a notice period that you won't be honouring, so either way you'll be ripping off your employer. You might as well just start blatently walking out with the furniture and get yourself sacked ASAP for all the difference it'll make.

Good luck whataver you choose,
tl

[northernladuk]

Is it worth it? Both financially and practically?

You seriously want us to answer this for you? You can't answer it yourself? If the role was for 10 quid a day and took 8 hours to commute I would say it is worth it cause I am a miserable vindictive git.


But seriously...

My advice - if you have to ask internet people for advice on a decision of this magnitude, your heart isn't in it, so the answer would be no, stay put.

This is a bold move, you need to be 100% sure you're doing the right thing, and you're obviously not sure at all.

It's also a crap time to be going contracting. If your contract offer fell through - for example, you were undercut, or as a result of being terminated after a few days (and this could still happen if you do a great job, it might be beyond your control), you'd be unstuck.

I would never base a decision on whether to go contracting on the back of one single contract. It's got to be a long-term, "this is what i want to do from now on" decision, IMO.

WHS. Sound advice to me. There is another thread that right below this one as I type on the same topic and Cojak asks a very pertinent question. Do you have enough cash to support yourself for 9 months after this one ends? If not stay out becuase it is highly likely you will need it at present.

[NorthWestPerm2Contr]

Jim:

This is definitley what I want to do, it's just a question of when rather than if. e.g. should I wait for a higher rate, one closer to home (obviously I will need to be more flexible in the future).

It is something which excites me but as with all things sometimes its difficult to take that first step.

And I won't base my decision on what you guys say but if somebody comes forwards with strong arguments for or against then its something that I and others can think about.

[NotAllThere]

Just resign from your current job and get one with it.

[Loco]

If I was considering this I think I would ensure I had a decent warchest - minimum 1 year living expenses tucked away (remember clientco can drop you just like that). Anything less, I would stick with permidom in these times.

With the 250 mile commute - I would look at relocating. I think the travel may take its toll over a longer time period and may affect you and your work.

Whatever you decide - good luck!

[Soled73]

It really sounds like you've already made your mind up. You've had enough in permi land and now you want to go contracting.

The reason - MASSIVE daily rates!

I wish you well - but you do need to do your own research. Someone out there could easily live on a daily rate of £250/day assuming they had enough of a war chest to work with - just in case.

Now for you, £500/day might be the correct figure. We can't tell you, only you know this answer. You may have 2 failed marriges behind you, so you may need a figure of £600/day. WE CAN'T HELP YOU ANSWER THIS.

I hope you get the point; and please take on board the repeated advice, your daily rate is NOT, I repeat NOT your take home figure.

Daily rate - expenses v Permi salary + benefits or put it another way..
high/medium risk v low/medium risk

Look :

If you want to move - MOVE.
If your undecided - STAY.

But it's much better to do your own research when in employment - trust me. Have you ever paid the bills with no money coming in? I guess it boils down to your appetite to risk.

... I bet [hope] you don't have kids.

[malvolio]

And I won't base my decision on what you guys say but if somebody comes forwards with strong arguments for or against then its something that I and others can think about.

What they all said, but consider - how much do you know about IR35, Opting out, MOO, RoS, accountancy, VAT, FRS.... ?

If that is all gobbledegook to you, make sure you do some serious reading. Start with three First Timer guides - the one on this site, the one at www.pcg.org.uk and the one at www.sjdaccountancy.com Then you might work out much much you don't know.

Contracting is a good life, but it's not necessarily an easy one.

[Fred Bloggs]

Jim:

This is definitley what I want to do, it's just a question of when rather than if. e.g. should I wait for a higher rate, one closer to home (obviously I will need to be more flexible in the future).

It is something which excites me but as with all things sometimes its difficult to take that first step.

And I won't base my decision on what you guys say but if somebody comes forwards with strong arguments for or against then its something that I and others can think about.

This is a wind up? Surely, there is no way on this earth that the same contract role is still open to you all this time from when you first posted on the 6th October through to today 24th November?

[NorthWestPerm2Contr]

Fred:

Read my post from the 3rd page.

This is a different contract on offer.

Things can't be that bad in the market ey?