Head (boring permy stability) v. Heart (contractor mentality/benefits) Conundrum

[TFour]

Ive had a good stint contracting at clientco but now they are trying to cut down on contractors or at least want them to go permy.

I've had an offer which amounted to little more than a 10% pension contribution more than half my recent annual revenues as a limited co. It does better by 20% the suggestion that equivalent annual permy rate is equal to contract hourly rate. Basically it might be £60k a year plus pension and other minor benefits for a Project Management role.

I have good personal reasons for needing stability over the next couple of years, the market isn't great and perhaps worse is to come again.

BUT....I just can't get my heart into being a permy. The only thing that generally keeps me going is the money I'm earning now and the knowledge that I'm only ever a week away from being able to leave it all behind. The thought of drastically reduced income, 3 month notice period, "Development reviews", corporate slavery, maximum 25 days holiday a year and never more than 2 weeks at a time, "I've got an excellent development opportunity for you, it wouldn't look good if you turned it down" nonsense makes me physically cringe...need I go on? It's the safe but boring/lazy option.

Any advice please? I have maybe a year's warchest so could stick it out for some time but due to the personal reasons for stability would need fairly local contracts to the East Midlands.

[TykeMerc]

My take on this is to score and prioritise your requirements and understand the dependencies, standard PM stuff really

If stability is number 1 and way ahead of the others and you've got a bearable offer on the table to go permy then do it.
In real terms there's nothing to stop you doing that, putting the Ltd into limbo and maintaining the warchest until the time is right to go back into contracting.
There's also nothing to stop you negotiating hard on the perm deal, things like extra holidays are much easier to get than more base salary.

I'd suggest from your post the requirements you need to score are:-

Stability
Money
Corporate bulltulip bearability
Leave
Current market state for contracts
Training
Experience to be gained that might carry dividends later

[d000hg]

Sounds like you're asking us to answer something that is 100% personal. If stability is your top priority, though, I think your question IS answered unless you have a 6-month contract lined up.

On holidays... well in a contract you have no real ability to take holidays apart from between contracts or maybe at extension. So as a permie you have more flexibility in the shorter term, but less ability to plan long holiday months in advance.

[nomadd]

Any advice please? I have maybe a year's warchest so could stick it out for some time but due to the personal reasons for stability would need fairly local contracts to the East Midlands.

Well, I think your problem is more around your location and wanting to stay there. I worked on a contract in the Midlands 3 years ago, but the market seems to have quietened a hell of a lot since then, especially outside London/SE. If you need the "stability" and want to stay where you are, then maybe you simply won't have any other options - apart from the bench, that is?

£60k for The Midlands sounds good to me; maybe try it for a while and see how it goes? Mind you, 3 month notice period would be a killer - I'd get that reduced to one month max (although in all honesty, they couldn't force you to give three months in reality if you told them you were leaving...)

Contracting never was the easy option, as you're finding out...

[TFour]

I'm not really sure what answer I was looking for - something that says permydom isn't that bad!? Clientco has global grading so no chance of an individual contract. I doubt I can negotiate much more money for the same reason, the only light in the tunnel is whether I could negotiate a 4 day week or 9 day fortnight and some decent training.

[moorfield]

I've gone for the Head option. Sit out the doom and skill up in my area in permieworld for the next 18 months or so.

After 3 weeks got "told" by the boss I had to participate in this years review process. I tried to avoid it using the probation period excuse but still got "told" to do it.

So it cuts both ways I figured, so I gave my boss tulip feedback.
He's not happy, but can do nothing about it now.

His bonus trashed by a contractor who's been in permieworld for less than a month.

[TFour]

Clientco has increased their offer by 15% to a final one which is now 32% higher than my hourly rate x 1000. Just trying the make the case now for compressed working hours i.e. 9 day fortnight - this really would make a massive difference to my work/life balance at no cost to them.

[d000hg]

I'm not really sure what answer I was looking for - something that says permydom isn't that bad!

It ain't so bad if you don't make it bad by being gloomy and thinking about all the negatives. Day-to-day, how big an impact would it make to the work you do?

[TFour]

It ain't so bad if you don't make it bad by being gloomy and thinking about all the negatives. Day-to-day, how big an impact would it make to the work you do?

Day by day the project work would be very similar. A benefit is that I'd be able to get involved in more strategic work ie proposing/implementing department improvements rather than being excluded.

[Scrag Meister]

Day by day the project work would be very similar. A benefit is that I'd be able to get involved in more strategic work ie proposing/implementing department improvements rather than being excluded.

My impression from reading your comments is that you should be putting your personal/homelife first in this situation.

Put the LTD to sleep for a couple of years, try and get as much training and extra experience in over the next couple of years permiedom.

You can always come back to the contracting once your personal circumstances have changed.

That money isn't too shabby.

GL with whatever you decide.