If the permie salary is 55K To 60K

[PropertyCrashUK]

If a permie role is paying 55K to 60K how much should the contractor rate be?

The permie salary to the client is a lot more than 60K by the time they add in NI and other costs so what would be a good quote to give a client to take on such a role as a contractor?

The contractor will not be paid for holidays so how do you work out a day rate?

[NorthWestPerm2Contr]

Endless number of threads on this question.............

[PropertyCrashUK]

Endless number of threads on this question.............

Which is no help whatsoever. No wonder this forum has so many people who visit a few times and then leave... hard-core of 4 or 5 people who stop people visiting.

You could try being more helpful you know, especially when people have been helpful to you regarding trying to get a contract in the NW.

It wouldn't hurt you or is it just beyond your comprehension to help others?

I think I have asked you this before - is this the way you wish to live your life?

[Pondlife]

If a permie role is paying 55K to 60K how much should the contractor rate be?

The permie salary to the client is a lot more than 60K by the time they add in NI and other costs so what would be a good quote to give a client to take on such a role as a contractor?

The contractor will not be paid for holidays so how do you work out a day rate?

Very basic guide would be;

60K Salary equates to a £60 per hour contract (£480 a day)

Obviously if you take no hols, are never ill and the contract goes on for years, you will be substantially better off on a £480/day dream contract than as a 60K permie.

As the above never (really) happens the guide gives you a rough figure.



Edit: This assumes you have some sort of pension/perks on top of the £60K salary.

[ChrisPackit]

I guess the rate is governed by what you are happy to take, but I heard banded about that you should take the 000's you earn as a perm times by ten as a daily rate i.e. 55K would be £550 / day.

I don't know if; a) this is true; and b) is any use to you

[Fred Bloggs]

I guess the rate is governed by what you are happy to take, but I heard banded about that you should take the 000's you earn as a perm times by ten as a daily rate i.e. 55K would be £550 / day.

I don't know if; a) this is true; and b) is any use to you

Myself I think salary divided by 1000 is closer to the mark, but there are a lot of variables to consider. It is only a rough guide at best.

[d000hg]

Which is no help whatsoever.

How about you get off your high-horse and listen?

Why are all those other threads no help - what's special about your case? Or are you unable to use search on the internet?

[jmo21]

Myself I think salary divided by 1000 is closer to the mark, but there are a lot of variables to consider. It is only a rough guide at best.

I see what you did there....

[NorthWestPerm2Contr]

I am not sure I buy into that stupid formula.

There is no way on earth that a 35k salary equates to a 350/day rate or a 25k salary equates to 250/day. The higher your salary the more you pay in tax and ni as a portion of what you earn while this does not really change if you are a contractor. Is there anybody here that can tell me they would take 100k over 1000/day or even 50k over 500/day?

[ChimpMaster]

[QUOTE=NorthWestPerm2Contr;1326900]I am not sure I buy into that stupid formula.

There is no way on earth that a 35k salary equates to a 350/day rate or a 25k salary equates to 250/day. The higher your salary the more you pay in tax and ni as a portion of what you earn while this does not really change if you are a contractor. Is there anybody here that can tell me they would take 100k over 1000/day or even 50k over 500/day?[/QUOTE]

I wouldn't, but there are people that will, and they're called permies.