Is this permanent package irrestible?

**pimpmycode** · 17 May 2013, 23:23

Re: Is this permanent package irrestible?

What is the bonus based on? Most times I find you don't see the bonus amounts they state in the offer.

**utternutter** · 17 May 2013, 23:41

That would be the minimum bonus.

Also, the other stuff - stock, pension aren't immediately accessible so it might not be signifiantly better financially, compared to contract, initially.

**Wanderer** · 18 May 2013, 00:58

Originally posted by utternutter View Post

Based on that, to the hypothetical exclusion of everything else, I'm wondering if it is advisable to make the switch from a financial perspective?

You are either underselling yourself as a contractor or you have scored a very good permie offer. If you could get a permie salary like that then your rate should be about £60/hr.

All other things being equal you would be better off to take it than to stay on a £30/hr contract.

**northernladuk** · 18 May 2013, 09:30

But what about the role? Doesn't matter what the package is if the role doesn't fit and it either ruins your career or you end up jacking it in in 6 months.

More to a job than the package IMO.

**BlasterBates** · 18 May 2013, 09:36

Given the fact that you have to relocate I would look at the role, is that what you want to do?

I can see that the perm probably is a better financial package, once you take holidays into account, but if you are going to relocate you want to be sure it´s worth the upheaval. It takes a long time to settle into a new town or city, so you really want to be sure that´s the place where you want to live.

**stek** · 18 May 2013, 11:26

Is this permanent package irrestible?

Originally posted by utternutter View Post

That would be the minimum bonus.

Also, the other stuff - stock, pension aren't immediately accessible so it might not be signifiantly better financially, compared to contract, initially.

Minimum bonus if a bonus is paid. Last permie job I had bonus was 20% max but if company itself hadn't performed no bonuses are paid. Asked how many times had bonuses been paid, answer - last time five years ago. Read the small print!

**BolshieBastard** · 18 May 2013, 11:34

Originally posted by utternutter View Post

Hi,

Contracting at 30.30 hourly and according to the calculator, the equivalent permanent salary would be 53835, or 55006 according to another calculator. However, the following permanent role has come up.

Salary - 50000
Bonus - 10000
Pension - 4500
Stock - 16000
Car allowance - 5700
Relocation allowance - 2000

Based on that, to the hypothetical exclusion of everything else, I'm wondering if it is advisable to make the switch from a financial perspective?

However, considering other aspects - the role, having to relocate etc. I'm not quite keen on it as I'm really happy currently but feel like I should take it if it's a great package and am wondering if I'd be foolish not to.

Thanks!

In this market, I think you should bite their hand off. Dont forget contracting, you have to be in contracting most of the year to make a true money to money comparison.

Imo, just comparing money is a bit of a false economy. You need to look at stuff like paid holidays, upskilling, less travel to \ from work and obviously, what part of the country etc, etc.

**utternutter** · 18 May 2013, 19:26

Originally posted by Wanderer View Post

You are either underselling yourself as a contractor or you have scored a very good permie offer.

Bit of both, I think. However, it is a different type of role, a few rungs up.

Originally posted by northernladuk View Post

But what about the role? Doesn't matter what the package is if the role doesn't fit and it either ruins your career or you end up jacking it in in 6 months.

More to a job than the package IMO.

Originally posted by BlasterBates View Post

Given the fact that you have to relocate I would look at the role, is that what you want to do?

I can see that the perm probably is a better financial package, once you take holidays into account, but if you are going to relocate you want to be sure it´s worth the upheaval. It takes a long time to settle into a new town or city, so you really want to be sure that´s the place where you want to live.

Completely agree. Which is why I'm not too keen on it - I'm not as interested in what the role involves compared to the existing one though can't deny that it is a step up and that might not come by easily if I want it the next time. Seize the (perhaps wrong) opportunity type of thing.

Originally posted by BolshieBastard View Post

In this market, I think you should bite their hand off.

That is exactly what the agency has said to me. However, cynical me decided to check if other contractors think so.

All in all, I rather not relocate there and am happy with my current role. The new role itself could be great for me but I wouldn't really know until I've been in it for a while. Without a doubt it is a great opportunity, at a much higher level. I'm just hesitant to give up everything for it (unless it's an offer I shouldn't refuse but I'm not convinced that it is).

**SeekingIT** · 19 May 2013, 08:49

Permie, Moi

Originally posted by utternutter View Post

Hi,

Contracting at 30.30 hourly and according to the calculator, the equivalent permanent salary would be 53835, or 55006 according to another calculator. However, the following permanent role has come up.

Salary - 50000
Bonus - 10000
Pension - 4500
Stock - 16000
Car allowance - 5700
Relocation allowance - 2000

Based on that, to the hypothetical exclusion of everything else, I'm wondering if it is advisable to make the switch from a financial perspective?

However, considering other aspects - the role, having to relocate etc. I'm not quite keen on it as I'm really happy currently but feel like I should take it if it's a great package and am wondering if I'd be foolish not to.

Thanks!

And..........

Remember to factor in, office politics, performance reviews (if applicable) but more important -what will be taken home per month.....

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Is this permanent package irrestible?