Do I quit my job

[steve80]

Currently in a perm role very frustrated due to being under paid. But I do like we're I work it's just the money.

I've always wanted to go contracting (not just for the money)

Problem I have is making the transition into a contract when I have a notice period. I'm called a lot from agencies so my CV must be good.

Should I just quit or seal a contract first ? Hard question I know and it's my decision ultimately but I really need some guidance

Ste

[rapid]

There's nothing we can do to help you decide.. personally I wouldn't quit a job unless I had 6 months salary in the bank and a good level of confidence that I have in demand skills.. (more money in the bank if you have a family that depends on you)..

You say you're unhappy due to money in your current role but state you want to go contracting not because of the money.. bit of a mixed message..

Are you getting calls regarding contract or perm roles? There's big demand for perm roles from what I can tell.. not enough good candidates etc.. where as contracting is relatively competitive.

[TheFaQQer]

Should I just quit or seal a contract first ? Hard question I know and it's my decision ultimately but I really need some guidance

Did you read the advice given in your "New Contacted[sic] landed" thread?

eg

If you want certainty that the client will wait for your notice period, then wait until either (a) the market is booming and clients will always wait; or (b) you have skills which mean that clients will be willing to wait for you to start.

I know people who left permanent employment with nothing to go to because agents / clients wouldn't wait for them to work their notice period. When I did it, I got the contract (who would wait the four weeks) and then negotiated a shorter notice period down to two weeks.

Also, as people said in that other thread, I hope you aren't just looking at the day rates and thinking that the road is paved with gold.

[TheFaQQer]

Currently in a perm role very frustrated due to being under paid. But I do like we're I work it's just the money.

Find a better offer and see if your current employer will offer you more money.

Mine did, but I still turned them down.

[steve80]

I'm getting calls for both contract and perm roles.

I want to go contracting obviously for the extra cash but I do have other reasons i.e own boss / flexibility

[Wanderer]

You will need at least 6 months worth of living expenses in the bank before you can jack in your job and go contracting.

Apply for some contracts and tell them you are available immediately. If you get the contract then negotiate on the start date.

[northernladuk]

If you are underpaid in your job wouldn't it be worth looking in to why and work on getting well paid for your job? Or do you assume everyone in a perm job is under paid?

[sal]

I'm getting calls for both contract and perm roles.

I want to go contracting obviously for the extra cash but I do have other reasons i.e own boss / flexibility

In theory running your own company, means you are your own boss, have flexibility on working hours/days etc.

In reality, as much as we all try to state we are outside of IR35, the majority of the clients will treat you almost as an employee, just not on their payroll. You will have a manager and you will be given tasks, not of your choosing and you will have to do them or walk out. You can argue that there is no MOO nor D&C, at the end of the day until you go through a couple of contracts and accumulate a decent war chest, you won't have the courage to walk out just because you were assigned to a tulip project.

On the main topic - in addition to all the other advises, you might want to check what penalties are you liable to if you leave your perm role on short notice. It might be that they can be easily offset by a week or 2 of contracting. Not ideal to leave your former employer disgruntled, but still an option if they refuse to reduce your notice period.

[texto]

Currently in a perm role very frustrated due to being under paid. But I do like we're I work it's just the money.

I've always wanted to go contracting (not just for the money)

Problem I have is making the transition into a contract when I have a notice period. I'm called a lot from agencies so my CV must be good.

Should I just quit or seal a contract first ? Hard question I know and it's my decision ultimately but I really need some guidance

Ste

It depends upon your notice period. My notice period was 4 months and there was no way I could get a contract as no agency would consider me. I quit and started hunting when I was closer to like 1 month notice period. So what's your notice period? If you can get out sooner, just let the agent know that you are flexible and you can get out in a matter of couple of weeks since you have good relationship with your company.

No pain - no gain. The question you have to ask is - will you ever regret you never tried to make more money or live your dream of contracting? It is risky. It is a gamble. But if it works, you'll love it. You can get started with an umbrella company easily but you need to find a contract first. Accept a lower rate since you don't have contracting experience. Build on that once you get confident. Good luck.

[sartois]

The crucial part is how long is the notice period... if it's 3 months then it's higher risk, but 1 month it would probably be possible.

I transitioned from Perm to Contract a year ago next month and had a 1 month notice period. No savings, no warchest, rented house, bunch of debts. Took an interview with a large firm in the city and they were very keen on me and happy to be flexible with the notice period. I took a couple of days holiday in the month to get a handover to make it easier.

As long as you are as good at what you do as you think you are, can interview well, and there is demand in your field you will be okay. I have no regrets at all, cleared all my debts within a few months, and was able to save up for a deposit and buy a house without sacrificing sunny holidays etc, which simply would have been impossible if I stayed Permie.