Need advice to switch from Perm to Contract

[KRoy]

Hi,
I am currently deputed from India to work in London, UK.
I am on Tier 1 Visa and hence have the option to quit my job and look for other opportunities.
I am planning to go for contracting now as I am really un-pleased with my salary and other components. My issue is that I have 2 months of notice period and in most cases placement agencies don't look forward to you for contract roles if you have 2 months notice and they always insist to start ASAP.
With this situation I have few options with me:
1. Take a risk and resign from my current role and start looking for contracts in my last month of notice hoping to get something good.
Risk: I might not get something before my notice period is over

2. Tell the agents that I have 3 weeks of notice and if I get a contract then resign and negotiate with to-be and current employer for a date.
Risk: My current employer might not agree to leave me in less than 2 months and to-be employer might not agree to wait for 2 months

3. Resign from the company and look for contract and if you dont get anything before the notice period ends then try to take the resignation back
Risk: My employer will not be obliged to take me back.

4. Take a risk. Resign from current role. Start looking right away for contracts telling that you have 3 weeks of notice. Once you get a job try to negotiate the start date.
Risk: If my employer sticks to 2 months then I would not be able to join the contract and I might not get a new one when my notice actually ends + It might be a bad market reputation.

I would like to have some expert advice about what to do in this situation and suggestions for any other option that you might think good for me.

Thanks a lot.
Have a good day ahead !!

[cojak]

What does your Visa say?

[TheFaQQer]

Resign now. Get to within two weeks of the end of the notice period and then start looking for a new role.

[stek]

What does your Visa say?

Visa is Tier 1 Work Permit, previously known as HSMP, OP is free to work for whoever (s)he likes.

[MyUserName]

1. Take a risk and resign from my current role and start looking for contracts in my last month of notice hoping to get something good.
Risk: I might not get something before my notice period is over

This is risky but probably what you need, do you have money in the bank to carry yourself for short while? If not then it may not be a good time for you to switch anyway.

2. Tell the agents that I have 3 weeks of notice and if I get a contract then resign and negotiate with to-be and current employer for a date.
Risk: My current employer might not agree to leave me in less than 2 months and to-be employer might not agree to wait for 2 months

This is possible, only you can tell how likely your employer is to let you go.

3. Resign from the company and look for contract and if you dont get anything before the notice period ends then try to take the resignation back
Risk: My employer will not be obliged to take me back.

No way would any sensible employed take you back. You will just do the same thing again in a few months.

4. Take a risk. Resign from current role. Start looking right away for contracts telling that you have 3 weeks of notice. Once you get a job try to negotiate the start date.
Risk: If my employer sticks to 2 months then I would not be able to join the contract and I might not get a new one when my notice actually ends + It might be a bad market reputation.

You may as well do point 1 as this. Although you could look around and keep quiet about your notice period and soak up the interview practice.

[fullyautomatix]

I would advise you to resign straight away. Wait till you are into the last week and then tell the agents that you are available immediately. You will get a contract either straight away or maybe a couple of weeks later. Worst case you will sit on the bench for a couple of weeks but at least you have made the transition and planned it properly. Dont start looking for a contract and tell the agents you need two months, its a non starter and the agents will think you are a nutcase.

[northernladuk]

Resign now. Get to within two weeks of the end of the notice period and then start looking for a new role.

+1 for this. Only decent way to do it.

[BolshieBastard]

Sorry, but when the contract market is dead like it is, I dont see why tier 1 applications should even be considered for contract work.

Just my opinion but we need to look to protect our own market at times like these.

[cojak]

That's for another thread (in General) BB.

[fullyautomatix]

Sorry, but when the contract market is dead like it is, I dont see why tier 1 applications should even be considered for contract work.

Just my opinion but we need to look to protect our own market at times like these.

I think the Tier 1 visa route is now closed. It was started under Labour as HSMP which then reverted to Tier 1 and then finally closed by Conservatives. The work permit route ( which was a decent visa structure ) allowed a company based in UK to apply for a permit for an overseas employee and the visa came with a restriction that it was only valid for that company. This has led to some companies exploiting the employees but prevented the over seas employees from jumping into whatever role they fancied and what ever rate they wanted.