Start of another (overpaid, underworked) contract in the UK IT world!

[theroyale]

I have just been hired at a daily rate that is 'common' in the IT contracting world in the UK but is still jaw-dropping to permies, people in other lines of work (contract or permanent), and people of ANY description in other countries.

I was interviewed on friday and asked to start on monday, the impression I was given was that this was a ridiculously complex system to which ridiculously complex changes were going to be made, within ridiculously complex timescales (my contract initial length is 10 weeks). I expected -- reasonably -- to be neck-deep by mid-week, and more importantly I expected to be challenged, stretched and learning all the time.

In the last three days I've created 25 database tables. Then linked them together.

And I've been praised for the work I've done and the start I've made.

A friend (who runs an IT consultancy business) calls the industry -- especially the contracting side of things -- 'Severely Overpaid'. Is this true, and if so WHY?!?!

[nomadd]

I have just been hired at a daily rate that is 'common' in the IT contracting world in the UK but is still jaw-dropping to permies, people in other lines of work (contract or permanent), and people of ANY description in other countries.

I was interviewed on friday and asked to start on monday, the impression I was given was that this was a ridiculously complex system to which ridiculously complex changes were going to be made, within ridiculously complex timescales (my contract initial length is 10 weeks). I expected -- reasonably -- to be neck-deep by mid-week, and more importantly I expected to be challenged, stretched and learning all the time.

In the last three days I've created 25 database tables. Then linked them together.

And I've been praised for the work I've done and the start I've made.

A friend (who runs an IT consultancy business) calls the industry -- especially the contracting side of things -- 'Severely Overpaid'. Is this true, and if so WHY?!?!

Shhhh..... And keep invoicing.

[Scoobos]

It depends, I'd say in some cases yes, in others no.

If you're writing a specialised system for use by the end client, compared to hiring a software house to do it on a project basis (where they often hire contractors themselves then charge +50%) then No

If you're a pretender, in a multinational massive corporation who spends all days in meetings and hiding in the silos - then yes you are overpaid.

A systems administration service provided by say, IBM or netapp is a shed load more expensive than a contractor.

Contractor vs Perm , often the permie sounds cheaper - but given that you're to pay Employers NI , Pensions, other benefits , insurance etc and commit to a longer term and a HR nightmare to get rid after 24 months - I'd say the contractors not bad value.

Given that I've had 6 months off sick at one point in my career, have trained myself in brand new technologies and pay all my own NIC / NI and training costs - I'm great value.

[topper]

WHS!

[BrilloPad]

Its not true. It was getting close to be true in the late 90s.

You deserve to get paid for making the client happy. Its not the actual work you have done but the impact. You have created the right tables.

Keep going!

[bobspud]

A friend (who runs an IT consultancy business) calls the industry -- especially the contracting side of things -- 'Severely Overpaid'. Is this true, and if so WHY?!?!

No. The average lap dancer in Stringfellows will earn roughly double my day rate for a good evenings work. Not convinced? Then compare us to the Legal or Management Consultancy professions... It's not uncommon to see Partners earn my day rate for an hours work, and thats no where near the top of the rate card for them...

We command knowledge. Knowledge = power = money

[theroyale]

It depends, I'd say in some cases yes, in others no.

If you're writing a specialised system for use by the end client, compared to hiring a software house to do it on a project basis (where they often hire contractors themselves then charge +50%) then No

If you're a pretender, in a multinational massive corporation who spends all days in meetings and hiding in the silos - then yes you are overpaid.

A systems administration service provided by say, IBM or netapp is a shed load more expensive than a contractor.

Contractor vs Perm , often the permie sounds cheaper - but given that you're to pay Employers NI , Pensions, other benefits , insurance etc and commit to a longer term and a HR nightmare to get rid after 24 months - I'd say the contractors not bad value.

Given that I've had 6 months off sick at one point in my career, have trained myself in brand new technologies and pay all my own NIC / NI and training costs - I'm great value.

I mean all of the above, not just individual IT contractors like most of us on this forum are. I mean isn't IT as a professional service (whether provided as an off the shelf package by IBM, by subcontractors like the consultancies, or by individuals like ourselves) an overpaid service? I don't mean hiding away in a massive multinational, I mean even taking into account doing a good job of it.

In the same way you might argue after watching a stressed bartender do a million things at once for 8 pounds an hour that bartending -- good bartending -- is an underpaid service?

[Scoobos]

ah sorry - my mistake.

I think perhaps, but its more business to blame - Directors and decision makers are usually not technical, so they buy any old crap they are sold.

There's a lot of "He's got it, I want it" in the decision making process too - Personally I like to see directors getting fleeced by the next big thing, because they so willingly jump in to increase their e-peen.

[pmeswani]

I have just been hired at a daily rate that is 'common' in the IT contracting world in the UK but is still jaw-dropping to permies, people in other lines of work (contract or permanent), and people of ANY description in other countries.

I was interviewed on friday and asked to start on monday, the impression I was given was that this was a ridiculously complex system to which ridiculously complex changes were going to be made, within ridiculously complex timescales (my contract initial length is 10 weeks). I expected -- reasonably -- to be neck-deep by mid-week, and more importantly I expected to be challenged, stretched and learning all the time.

In the last three days I've created 25 database tables. Then linked them together.

And I've been praised for the work I've done and the start I've made.

A friend (who runs an IT consultancy business) calls the industry -- especially the contracting side of things -- 'Severely Overpaid'. Is this true, and if so WHY?!?!

If you feel overpaid, let me know and I will be happy to act as a go between and take a cut on your behalf.

[ArmitageShanks]

It depends, I'd say in some cases yes, in others no.

...

A systems administration service provided by say, IBM or netapp is a shed load more expensive than a contractor.

....

Completely agree, contractors are generally well paid compared to permies, but heaps cheaper than using a consultancy co. like accenture, cgey, ibm, csc, kpmg etc. Most of us have seen these companies shipping in graduates (often bright and hardworking) with no/limited experience at £1000k+ per day.