Question

[Diestl]

You can make at least 2x as much and best case get 85% of this as net, that's the reality and that's why some permies want to become contractors.

[TheMonkey]

Not for me. That's just a convenient side effect.

I like the fact I don't have to face the same crocks of sh1t for more than a few months at a time.

[Denny]

Thanks for the feeback, I learned a way back that asking a few questions may save a lot of money...
My current employer is going trough some "changes" and in the next weeks/months I should be getting an invitation to "voluntary redundancy"; I will use this (if not offered, I will resign possibly) and will move to contracting.

I understand based on the comments that day/hour is not really standard, each case would be different. I will try to have a good contract, short initially and then build the relationship with the customer trying to grow it. Also reading the clauses from the contracts to ensure any extra time can be charged, ensuring I can have a direct contract with the customer somewhere in the future and all the other critical areas.

Many of you have been contracting for 10-12 years; have you been able to save obsene ammounts of money??? You are easily getting 30-50% more than a permie, is this diluted on your daily living, taxes..... any feedback on the real financial benefits or do you loose part of that money due to empty time between contracts?
thanks in advance

Unless you contract as a de-facto employee for long stretches at a time for one client (putting you inside of IR35, then you won't be that much better off than a middle ranking permie in terms of financial benefits of contracting.

If you contract as a B2B, assignments are usually much shorter, you fit other client work in with your main source of fee income at that time, and you must expect to be 'resting' at some times.

Contracting is more about freedom, personal management, not being tied to the commuting conveyor belt, making your own luck than it is about riding around in Porsche's.

[kramer]

Not for me. That's just a convenient side effect.

I like the fact I don't have to face the same crocks of sh1t for more than a few months at a time.

yup.... office politics floats by me.. the work is varied... i even have a small amount of professional respect... plus my mates all think i am a spy!

[try-one]

I'm in a very niche area.....contracts offered are in the £500-£650 a day, if I manage to work 10 months a year, that would be a significant revenue.
Freedom? commute? Politics?....I work from home, home based work is common this days and it provides you with the same freedom, no commute and no politics.
I will do it for the money, plain and simple, I won't say no to a chance to earn 3 times more legally, the rest is just talking.....

[weemster]

Have you handed your notice in yet?

[try-one]

"My current employer is going trough some "changes" and in the next weeks/months I should be getting an invitation to "voluntary redundancy"; I will use this (if not offered, I will resign possibly) and will move to contracting.
"

[weemster]

Will be nice if it works out. I was lucky with my first contract (they would wait 4 weeks) - after holiday it only took 2.