Originally posted by boredsenseless
HTH
Fleetwood
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maths
HTH
FleetwoodOlder and ...well, just older!! -
Well spotted...fecking youngsters & their AmericanismsOriginally posted by ratewhoreHow fortunate for governments that the people they administer don't thinkComment
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Again the age old nut needs to be cracked, i.e. what are the implications of going contracting against remaining a permanent member of staff.
My observations tend to be based upon the financial center I take as my primary tool.
- What would the difference be, to me financially, if I were to remain a permie for the next 5 years on, say, £40k, as opposed to being a contractor with revenues of £80?
- At what point during my contracting career will the income have outweighed the risk taken on?
- How long do I have to contract to feel financially secure, or to attain financial freedom?
- Where would I be in 5 years time if I were to remain a permie, and would I receive a compensation package that makes it worthwhile?
Initially it's all about the money. Once settled in and financially secure, I would imagine it's more about the lifestyle. I don't care about becoming a millionaire, having fast cars & huge houses etc etc. I just ultimately want more time with my family. And I choose contracting to provide me a higher source of savings to fund a scaled down work ethic after 40+.
Once thing is certain - you won't know unless you take the risk. If you can be somewhat sure of achieving at least 12 months work, the tendency would be to have a go.Comment
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Still a few people on here falling for the 'I'm my own boss, running a business' rubbish. For the vast majority, you are at the whim and vagaries of other peoples decisions, which you will find during any downturn (my annual earnings dropped 60% due to not keeping up with the game and having to go permie)
I think that if I had been permie all my 'career' instead of 10 yrs contract (and I do want to get on the mgmt scale, it pays more and you tell other people what to do) I would be at a reasonably senior level now, as friends are in other areas (accountancy, solicitors, general business etc) and be earning accordingly which would start to balance out anything I earned over them a few years ago. As it goes I have found a fresh contract seam to mine and am back on the gravy train (80+k/yr, probably equiv to 100k perm package) but it's a temporary gig and I am more conscious of this (I am 40, don't want to hit another downturn at 50 and be struggling to get anything).
I am not ruling out perm work at the right big company and area(I can expect to go in at a good level now, although not at the same pay level) or more contracting if the price/location is right.
Yes, everyone knows of some contractor coining it and seemingly doing very little for the money, but the reality is you can usually earn a bit more than the equivalent permie role and do pretty much the same stuff. It's better you don't kid yourselves otherwise.
My advice is try to develop a plan B, even if this is just a range of investments (peps + isa's in my case). Yes I wish I had chucked it at property, but it's easy afterwards to say what you should have done.
Good luck all.Comment
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If you go for a dodgy scheme this is true, however not all of us want to go for an offshore solution. What I find it funny is that people are available to go for contracting for an even lower nominal salary than a permie job, relying on dodging schemes and tax evasion. I don't think you can rely on those forever, and furthermore you shouldn't cost less to an employer. If you take the risk then you should get the reward of it, not leave it to your employer.Originally posted by lukemgI've seen much of the rest of the world. It is brutal and cruel and dark, Rome is the light.Comment
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Maybe its what comes of going to an american uniOriginally posted by TrollComment
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You guys are right about Plan B, which I would have thought is to stash away your cash (or invest it) so that you don't have to worry about contracting in 10 years time.
Downturn or not, after 10 years contracting and with a decent investment plan you shouldn't have to worry about the basics of running the house and putting food on your family table.
Of course, the story is very different if you're one of those flashy contractor types, what with the sports car, big house and designer suits!Comment
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Mois?Originally posted by TazMaN
ThreadedI've seen much of the rest of the world. It is brutal and cruel and dark, Rome is the light.Comment
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Moi.Originally posted by Francko
HTHHard Brexit now!
#prayfornodealComment
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Threaded cannot make a mistake. The french dictionary is wrong.Originally posted by sasguru
Threaded.I've seen much of the rest of the world. It is brutal and cruel and dark, Rome is the light.Comment
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