Perm to contract?

[Newbie57]

Is it worth quitting £45k perm job for a £240 per day contract?

[cojak]

It depends.

How far away is the contract from your home?

How long is the contract for?

[BrilloPad]

Is it worth quitting £45k perm job for a £240 per day contract?

How do you rate the chances of getting renewals?

Remember it is not just about money - there are advantages of being contract like more independence. On the other hand there is less stability.

[mos]

Is it worth quitting £45k perm job for a £240 per day contract?

No. £240 is not a professional rate. Are you tempted?

[northernladuk]

No.

[NorthWestPerm2Contr]

Definitely not worth it.

45k is a good salary to be getting in these times and definitely not worth leaving for 240/day. When you take into account holidays, sick pay, risk, benefits 45k is far superior to 240/day.....

[malvolio]

£45,000 /1000 * 8 = £360. So £240 represents a pay cut of 33%.

HTH

[Newbie57]

It is very close and represents no increase in commute. I am tempted as it will give me some new skills which will increase my marketability. Does this rate not translate to just below 60k per annum? I appreciate the perm benefits lost.

[Newbie57]

Provided I do the job, renewals are not an issue as the project runs into spring 2014.

[malvolio]

It is very close and represents no increase in commute. I am tempted as it will give me some new skills which will increase my marketability. Does this rate not translate to just below 60k per annum? I appreciate the perm benefits lost.

So what about holiday pay, bank holiday pay. sick pay, pension funding, Employers NICs, training, travel costs, accountancy or umbrella costs? Not to mention no protection and no rights beyond what you negotiate for yourself which are likely to be minimal. Nobody hires a contractor so they can learn new skills, you're supposed to bring them with you. And projects lasting a long time mean zero; as soon as you aren't wanted for any reason, you're gone.

The (annual salary / 1000 = hourly rate) calculation is not made up, it works for a reason.

By all means go freelance, but don't do it for the money and don't ignore people telling you the truth when you know nothing yourself.