new to contracting, what daily rate should i go for

[BolshieBastard]

Unless you are particularly confident of your skillset, abilities and industry, I would not consider leaving a permie job at this time - unless of course your job itself is at risk anyway.

£50k is a good salary in today's world. You'll be hard pressed to find a contract that will live up to your expectations; just read the posts on these forums about the Indians waltzing in and decimating the industry with their low rates and even lower quality.

I'm seeing contracts advertised in London at < £300/day, whereas a couple of years ago it would have been more like £500/day.

Yes, it's a shame, but I really feel that contracting is dead in this country. We have had absolutely no support from successive governments, so we are being beaten down on taxation and work is being offshored in ever increasing volumes. If you're already in the game then it's OK because you can probably stretch it out for a couple of years more - but as a fresher I would recommend you stay out.

Yes, absolutely spot on! Im hanging on for another 4 years tops if I can then Im bailing. Im expecting to work no more than 36 weeks in any 52, the market is that tulipe.

Im keeping my rate high for my location but I know for a fact agents are submitting people for new roles at a rate £75 to £100 a day below mine.

[d000hg]

WTF!

£50k <> £500 p/d. He needs to be aiming at £700 p/d minimum to cover for bench time.

Don't give crap advice.

Take your own advice. £700, what a dummy.

[SupremeSpod]

What are you on about? They are all optional, but only a complete clown wouldn't have something in place for all of them. Plus the OP is not a contractor, and likely has no idea of the overheads involved, unlike the enlightened superheroes of General.

Stick to mud pies, leave business to the grown ups.

http://forums.contractoruk.com/gener...esponse-5.html

How's that for a "mud pie"?

[TheFaQQer]

There's some good advice in this thread.

Work out what your costs are going to be.

Work out what you need to live on.

Work out what you can sell yourself for - bear in mind that certain market areas are flooded with cheap offshore resource. Some markets are flooded with cheap resource where people have been made redundant and jumped into the first contract which takes their fancy. Some agencies will be wary because you have no contracting experience. Some agencies will deliberately fleece you because you have no contracting experience.

What kind of notice period are you on? You'd be lucky to find someone in this climate who will wait for a long notice period.

I would be wary of only having 3-4 months to live on, to be honest - I had seven months without a contract a few years back. Over the past five complete years that I've kept records, I've worked 134 days, 155 days, 185 days, 120 days, 125 days and 204 days. In the six months of this trading year, I've only worked 84 days - and I've been in contract for the whole of that time, but the client has had some breaks.

It's not easy out there. Personally, I think you'd be mad to move from a 50k permie job, but who knows?

If you think that contracting is a path to easy living and an increase in earnings, then I think you really do need to do some research before making the leap.

[doomage]

There's some good advice in this thread.

Work out what your costs are going to be.

Work out what you need to live on.

Work out what you can sell yourself for - bear in mind that certain market areas are flooded with cheap offshore resource. Some markets are flooded with cheap resource where people have been made redundant and jumped into the first contract which takes their fancy. Some agencies will be wary because you have no contracting experience. Some agencies will deliberately fleece you because you have no contracting experience.

What kind of notice period are you on? You'd be lucky to find someone in this climate who will wait for a long notice period.

I would be wary of only having 3-4 months to live on, to be honest - I had seven months without a contract a few years back. Over the past five complete years that I've kept records, I've worked 134 days, 155 days, 185 days, 120 days, 125 days and 204 days. In the six months of this trading year, I've only worked 84 days - and I've been in contract for the whole of that time, but the client has had some breaks.

It's not easy out there. Personally, I think you'd be mad to move from a 50k permie job, but who knows?

If you think that contracting is a path to easy living and an increase in earnings, then I think you really do need to do some research before making the leap.

Would you take a £50k permie job if offered?

[dynamicsaxcontractor]

If you think that contracting is a path to easy living and an increase in earnings, then I think you really do need to do some research before making the leap.

You need the right mindset, if you have that you wouldnt have to ask these questions - you just jump. Its not easy, its really hard work at times but I could never go back to work as a perm again - ok offer me a salary of £500K or more and I consider it....

[TheFaQQer]

Would you take a £50k permie job if offered?

If it was near home, doing something that I was interested in, and didn't involve travel then I would consider it, yes.

The main problem I have when I see permie jobs isn't about the rate, it's the travelling involved and the holidays on offer. If I'm going to be travelling, then I may as well keep doing what I'm doing. And very few companies are prepared to offer the holidays that I want - although Oracle used to give me 35 days a year plus the bank holidays.

[SimonMac]

You also need to think worse case, monthly billing with 30 day payment terms are becoming the norm now, so even if you secure a contract can you go another two months before YOUR company gets its hand on some cash never mind you

[Old Hack]

You also need to think worse case, monthly billing with 30 day payment terms are becoming the norm now, so even if you secure a contract can you go another two months before YOUR company gets its hand on some cash never mind you

I always refuse this, once i have been offered a gig. They've always backed down.

I once got diddled by a company going down the pan with my 8 weeks money - first 4 weeks money, then working whilst I waited the 30 day invoicing. Ever since, I have refused to do it. I think once you've got the gig, the agency will acquiesce.

[SimonMac]

I always refuse this, once i have been offered a gig. They've always backed down.

I once got diddled by a company going down the pan with my 8 weeks money - first 4 weeks money, then working whilst I waited the 30 day invoicing. Ever since, I have refused to do it. I think once you've got the gig, the agency will acquiesce.

I'm direct this time (