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Contract versus Perm

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    Contract versus Perm

    Hello,
    First time posting here and hoping someone is better at maths than me.
    I'm currently earning £51,000 a year working three days a week as a contractor and I like the freedom it gives me. I've been offered a perm staff job earning £50K for five days. Which works out better financially when you take into account 25 days paid holiday + 8 days paid bank hols + 3% match on pension contributions? Thanks!

    #2
    It’s not about the money, there’s little in it once you calculate pro rata and benefits - it’s about freedom vs stability.

    which do you value more?
    "I can put any old tat in my sig, put quotes around it and attribute to someone of whom I've heard, to make it sound true."
    - Voltaire/Benjamin Franklin/Anne Frank...

    Comment


      #3
      Is there nothing else to consider bar the money that might help you make a decision? Nothing? Really? If you don't know what they are then we can't help you.

      NF - Is there a magic 8 ball plug in we can use for questions like this?
      'CUK forum personality of 2011 - Winner - Yes really!!!!

      Comment


        #4
        Originally posted by northernladuk View Post
        Is there nothing else to consider bar the money that might help you make a decision? Nothing? Really? If you don't know what they are then we can't help you.

        NF - Is there a magic 8 ball plug in we can use for questions like this?
        Subtle clues if you read the question.
        Originally posted by MaryPoppins
        I'd still not breastfeed a nazi
        Originally posted by vetran
        Urine is quite nourishing

        Comment


          #5
          Originally posted by d000hg View Post

          Subtle clues if you read the question.
          I don't do subtle

          That said he could have put a very sensible and intelligent post up. I don't do intelligent or sensible either it appears.
          Last edited by northernladuk; 31 March 2022, 10:47.
          'CUK forum personality of 2011 - Winner - Yes really!!!!

          Comment


            #6
            Originally posted by d000hg View Post

            Subtle clues if you read the question.
            have you asked your accountant?

            One thing I liked about being a contractor was having multiple contracts so I wasn't at the whim of just one ruthless customer. OK the biggest one sunk me but it took a year in a recession.
            Always forgive your enemies; nothing annoys them so much.

            Comment


              #7
              Originally posted by northernladuk View Post
              Is there nothing else to consider bar the money that might help you make a decision? Nothing? Really? If you don't know what they are then we can't help you.

              NF - Is there a magic 8 ball plug in we can use for questions like this?
              Ohhhh, sorry. I didn't realise there is an anti-permanent cult going on here. I guess I should have been initiated first.

              I'm not saving lives or have a job that changes them so of course it's about the money. Would you work without it?

              Comment


                #8
                Originally posted by fastandcurious View Post

                Ohhhh, sorry. I didn't realise there is an anti-permanent cult going on here.
                THere's not, just a very grumpy bugger. Clearly contracting doesn't make everyone happy
                Originally posted by MaryPoppins
                I'd still not breastfeed a nazi
                Originally posted by vetran
                Urine is quite nourishing

                Comment


                  #9
                  Originally posted by fastandcurious View Post

                  Ohhhh, sorry. I didn't realise there is an anti-permanent cult going on here. I guess I should have been initiated first.

                  I'm not saving lives or have a job that changes them so of course it's about the money. Would you work without it?
                  There is an anti everything culture going on because you've dumped this in General. A quick glance will tell you there isn't a single professional question in this area and the title does say 'All hope abandon ye who enter here. Seriously.'

                  Money can be a prime reason but not a prime motivator. Many a survey has been held about why people leave work and money was actually down around 5th place in most of them. If you take the best paying of the two but it is a boring job, long travel, no prospects, short term and whatever then your comment that it's all about the money is clearly wrong.

                  What I am getting at is there are other aspects to both roles you need to look at. The list is pretty long so have to look at what is important to you and work a list of pro's and cons. Job prospects, length of gig, location, tech you are working with, quality and location of company and so on. There are also massive differences between contract and perm to consider as well. Some on here couldn't go perm if it was the last job on earth for example. Your contract will end at some point soon so the benefits from that will disappear completely and the perm job suddenly becomes the best by far. You are comparing apples and pears after all.

                  It's not beyond the realms of possibility that the lower paid role is actually much more exciting and has better prospects so would be the best option in the short to medium term.

                  So, when we get people comparing apples and pears and focussing only on rate as you are I say what else is there to compare the two. Money isn't the only thing and longer term it's not the most important. You said that yourself when you said you liked the flexibility so you've contradicted yourself already. List everything out and then you will have a comparison between the roles. Add the money to that and see if the difference income can be offset by other pros for that role.
                  'CUK forum personality of 2011 - Winner - Yes really!!!!

                  Comment


                    #10
                    Yeah I'm new to contracting and I do get that being tied into a permanent role might feel like a prison sentence. The advantage of contracting is that I get to switch jobs often and work on a wider range of projects. But having no sick pay or paid holidays can be troublesome. Thanks for your thoughts in any case.

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