Job of the Day

[kal]

It may surprise you, but 1k per week on favourable tax terms would be a great income for most people in this country.

That's less than a permie salary (assuming IR35 caught) with none of the benefits, and were not talking about most people but seasoned contractors

[DaveB]

That's less than a permie salary (assuming IR35 caught) with none of the benefits, and were not talking about most people but seasoned contractors

Depends on the permie and the job. £1k per week before tax is £52k a year. Thats almost double the national average at the moment. Your assuming they'd pay a permie the equivalent, which they won't. Admin team leader won't pay anything like that, even in banking. You'd be lucky to get £40k pa.

[SpontaneousOrder]

Depends on the permie and the job. £1k per week before tax is £52k a year.

more like 45k per year.

[DaveB]

more like 45k per year.

Nope, for a permie who gets holiday pay 1k a week = 52k a year before tax, on account of there being 52 weeks in a year.

[Old Greg]

That's less than a permie salary (assuming IR35 caught) with none of the benefits, and were not talking about most people but seasoned contractors

Sounds like a project, so should be workable as outside IR35. Multiply out to 12 months and assume 44 weeks per year worked, you should take home a little over 35k. You'd have to flip a lot of burgers to make that.

Is it really less than an equiavalent permie salary in Brum?

[SpontaneousOrder]

Nope, for a permie who gets holiday pay 1k a week = 52k a year before tax, on account of there being 52 weeks in a year.

But the contract isn't 52k / 52 weeks = 1k per week. It's 190 per day.
So if you compare the contractor to the permie @ 45 or 46 weeks per year it's only a permie salary of 45 or 46k.

it doesn't make any sense to compare contract revenue to permie salary when one involves significantly more days at work than the other. otherwise you could just assume that the permie does 6 weeks worth of overtime and so his actual remuneration is more like 58k compared to the contractors 52k.

[d000hg]

A team lead role for a banking client paying £190 a day. FFS one would be better off flipping burgers at McDonalds or stacking shelves at Tesco if you factor in holiday and sickness benefits.

Out of touch much? NMW pays about £50 a day. Plus those type of jobs are done paid hourly by shift, not annual salary, so you don't even have a predictable level of work.

[kal]

Sounds like a project, so should be workable as outside IR35. Multiply out to 12 months and assume 44 weeks per year worked, you should take home a little over 35k. You'd have to flip a lot of burgers to make that.

Is it really less than an equiavalent permie salary in Brum?

True, there is eff all in Brum and what there is pays peanuts, I take it all back you could live like a king on that rate!

[vwdan]

Is it really less than an equiavalent permie salary in Brum?

No, just people on here have wildly inaccurate views about the average earnings of average people. Most people, especially those without a professional trade, would consider anything £30k+ to be a good salary. £40k+ is just a dream to the majority of the population.

[d000hg]

No, just people on here have wildly inaccurate views about the average earnings of average people. Most people, especially those without a professional trade, would consider anything £30k+ to be a good salary. £40k+ is just a dream to the majority of the population.

True. It doesn't mean this contract rate isn't stupid, but you have to laugh at people here who genuinely seem to believe living off £100/day isn't possible.