Fixed Rate Contract - Offer

[DotNetDeveloper]

Started a 3 month gig for a digital agency last month. 5 weeks in they gave me my 2 weeks notice.

I was told that the contract is working out to be too expensive. They have another guy ready to come on board, prepared to take a 9 fixed term contract. They asked if I would be prepared to take on the FTC instead, as they would prefer to keep me on.

I stewed over it over the weekend. I was just couldnt bring myself to go on the payroll. It would cripple my finances, esp. as I pay for separate accommodation for this contract.

My warchest is ruined at the moment due to getting married, and being out of work near Christmas was not appealing.

Anyway, I lucked out by refusing outright to take the FTC. But instead persuaded the financial director to give the agent a nominal buyout fee (as he knew I wouldnt take the FTC, so would be happy with anything) and instead just go direct with my limited for the true cost of the FTC salary (i.e. FTC + 33% / 260 = day rate).

It represents a 15% lower day rate but it now 9 months and will see me through to June next year.

I just dont think some companies really understand the true cost of a PAYE employee.

Any one else have experiences of dodging a FTC bullet?

[northernladuk]

My warchest is ruined at the moment due to getting married, and being out of work near Christmas was not appealing.

There is a reason it is called a warchest. Best go read the definition of it again.

[DotNetDeveloper]

Really? I ask for peoples experiences of being offered / dodging FTCs and all you can provide is that egotistical bulltulip?

[TestMangler]

Really? I ask for peoples experiences of being offered / dodging FTCs and all you can provide is that egotistical bulltulip?

OK, here's my opinion.

No one has ever offered me such a deal.

If they did, I would tell them to stick it. (The same way as i've always done if 'rate reduction' forms part of the agenda.) If they want you to stay, they'll find a way, if they don't, they wont.

[kaiser78]

Really? I ask for peoples experiences of being offered / dodging FTCs and all you can provide is that egotistical bulltulip?

Agree this wasn't the most useful response.

In your situation you need to balance up the FTC role vs being prepared to walk and finding another contract. If you are worried about impact on warchest, stick it our for 9 months and be comforted by the steady income coming in.

[northernladuk]

Really? I ask for peoples experiences of being offered / dodging FTCs and all you can provide is that egotistical bulltulip?

Really, well why are you crying about your warchest and spending it on your wedding then? Was that just to entertain us?

Agree this wasn't the most useful response.

Maybe but still valid. If he has used his warchest properly it would have had an extra out. As it is he doesn't/

[DotNetDeveloper]

Really, well why are you crying about your warchest and spending it on your wedding then? Was that just to entertain us?

Ok, to feed your egotistical nature... yes. I was literally reduced to tears. Yes, I thought that it would entertain you immensely, I didnt think it would set the context of my situation.

Maybe but still valid. If he has used his warchest properly it would have had an extra out. As it is he doesn't

Who said I didnt have an extra out? I have other work that I do for other clients on the side. I just didnt want to be looking for a full time contract in Dec. I quite clearly stated that I would have flat-out refused the FTC...I wouldnt have done that if I had no other option.

Now please tell me that because of X, Y, Z I should consider if I am really cut out for contracting, as you like to write in every other post.

I really dont understand why you feel the need to constantly be so pedantic about irrelevant details.

I understand it when those that ask stupid questions and dont use the search functionality get burnt, but seriously, your superiority complex is quite astounding.

[northernladuk]

I understand it when those that ask stupid questions and dont use the search functionality get burnt, but seriously, your superiority complex is quite astounding.

Thank you!!

[Wobblyheed]

I can never understand why any contractor would entertain a FTC. You may as well be a permie (except without the perks)