Advice for a beginner; contract offered but no idea if its good?!

[stek]

When you say 'agent', are you under the assumption that I'm negotiating through a recruitment agency? Again, could be due to my lack of experience, but the person I'm negotiating with works for the company who'll give me a job (although they might themselves be contracted in from an external company).

In that case 200pd is very low, without the agents cut and leaving yourself to do all the paperwork and money chasing its probably an effective 120 pd rate. Don't assume they will pay on time, more like 60 days and then you have to be on their backs constantly...

[odm]

In that case 200pd is very low, without the agents cut and leaving yourself to do all the paperwork and money chasing its probably an effective 120 pd rate. Don't assume they will pay on time, more like 60 days and then you have to be on their backs constantly...

1) Why does the agent get a cut? I found myself the job, interviewed, and got the offer. The HR dude only contacted me to tell me the good news, why should he get a cut?

2) Is it that difficult to get paid? Thought it'd be straight forward, like a salary almost?

3) So would you advise to not go for it or to go for it?

[stek]

1) Why does the agent get a cut? I found myself the job, interviewed, and got the offer. The HR dude only contacted me to tell me the good news, why should he get a cut?

2) Is it that difficult to get paid? Thought it'd be straight forward, like a salary almost?

3) So would you advise to not go for it or to go for it?

I meant that the 200pd wouldn't be including a agents percentage. If it was through an agent you'd expect the rate to be higher prima face. Actually I'm not sure what I meant there, forget point 1!

Point 2, almost certainly will be, part of the agents percentage is spend endlessly chasing payments which he effectively factors for you, ie pays you up from without money from the end client. Without that you're up again chasing the money from the clients accounts dept, which you can't realistically do during the time you're actually working for the client, so when can you do it? Out of hours? Weekends? Not really, accounts dept is strictly 9-5. Beleive me an an ex-accountant we'd invent all sorts of reasons not to pay or at least squeeze another 30 days of your money being in our account;

1. The directors not in to sign
2. Oh, you just missed the BACS run, next one is in 28 days time, let's hope you don't miss it again!
3. BACS system is down

It's certainly not automatic and certainly not like a salary.

3. I'd go for it, for more money though, and either use an Brolly or pay for a factoring service.

[odm]

a factoring service.

Thanks for the info. What's a factoring service?

I was under the impression that Ltd is the best way to do to maximise £££. Is ittrue that an umbrella co. only takes £10-£15/month for the trouble of sorting everything else out for me? (This is what I was told by HR) - sounded low from the outset, but maybe it's the going rate.

[SueEllen]

Thanks for the info. What's a factoring service?

I was under the impression that Ltd is the best way to do to maximise £££. Is ittrue that an umbrella co. only takes £10-£15/month for the trouble of sorting everything else out for me? (This is what I was told by HR) - sounded low from the outset, but maybe it's the going rate.

Don't worry your head about all this stuff.

If they refuse to offer you more money for the deal then as the rest said stay in your current permanent role.

[odm]

Don't worry your head about all this stuff.

If they refuse to offer you more money for the deal then as the rest said stay in your current permanent role.

Sure thing. Is it true baout the £10-£15 umbrella co. fee anyway?, or should I expect to pay more?

[SueEllen]

Sure thing. Is it true baout the £10-£15 umbrella co. fee anyway?, or should I expect to pay more?

Have a look at the websites of the like of contractor umbrella and parasol (google them) for price information.

[lukemg]

I would strongly advise you to stay where you are. Consultants get a bad press but a few years at one says a lot on a CV, like you can work damn hard and will go anywhere. Training tends to be top notch too and future clients will see this as something they can benefit from. You leave - you couldn't hack it. Plus- looks like you are doing junior work at the moment, I would wait till I had been doing more senior work as a better entry position to the market (or prepare to stay at the low level for your contracting career).
Don't underestimate the client and internal contacts you can get there too. Mate of mine bounced out of 8 years at a consultancy into an 850/day job + expenses and friday from home because the CIO at the clientco was his ex line managers boss (he considered him a bargain as usual cost was 1500/day !!!).
200 aint enough to chuck all that in, bide your time, network like crazy and if you are any good you will be very glad later that you didn't jump into this.

[psychocandy]

Insane work ethic?

Cant even remember what I was like when I was 22. Perhaps i was like this too.....
One piece of advice I would give is - Remember, its only work.