If the permie salary is 55K To 60K

[Assassin]

As far as I have notice the formula is:

salary / 1000 = price per hour

so for 55k there will be 55ph so it will be 440per day( for 8 hours day). Which makes sense to create roughly comparsion between permi and contract.

Regards

[ChrisPackit]

I can only vouch for myself and I'm a 350/day guy. I haven't been perm for a long, long time...13 years or more, but would guess £35K to £40K would be my perm equivalent.

[NorthWestPerm2Contr]

I can only vouch for myself and I'm a 350/day guy. I haven't been perm for a long, long time...13 years or more, but would guess £35K to £40K would be my perm equivalent.

I can see how 350/day can be equivalent to say 45k but that's only if you factor in bonus, holidays, sick pay, training, pension, company car, fuel card, stability and a nice big office with coffee maker and a PA.

[fragglerock]

The calculator
<snip>
suggests 35000 is approx to £158 a day (if caught in IR35 £200 if not)
£300 a day is closer to £50,000 (if IR35) (£70,000 if not)

It of course makes various assumptions that may or may not hold true.

[kaiser78]

I have worked out in my situation hourly rate * 1200 is a more accurate equivalent if this helps.

So hourly rate of £60ph on contract = £72k permie.

[PropertyCrashUK]

Thanks everybody for the help. Much appreciated.

[xchaotic]

Might be worthwhile to knock a 3 version calculator with options for those that want to convince themselves of:
a) freelancers with no choice (no one will hire them perm) that want to know their £250pd in London is really better than 50k perm in the countryside
b) permies in a retail bank, who spent 20 years there that their £55k + bus allowance really is better off than 20 years of contracting at >£500pd in the city
c) newbies that should generally be protected from taking the leap, as they have no idea that this means you can lose a contract and still have to pay off the VAT AND the car you bought for the gross amount you got in the first 3 months, while on the dole...

Anyone more experienced that than, knows better that to decide about your future is more complicated than a 1 variable numerical formula.
Did you account for location, work atmosphere, sense of accomplishment, work/life balance, future career prospects etc?
So why do you expect a sensible answer for a nonsensical question?