new to contracting, what daily rate should i go for

[Old Hack]

I'm direct this time (

I am sure it's grand, and it is something to be very aware of. I wasn't when I was green, and paid.

[psychocandy]

Contractor Market Rates - IT Contract Hourly Rates - what does the panel think about these figures?

There are none listed for over £500 pd, granted these are the top 10 in each category.

Also, there is quite a discrepancy between daily and hourly rates. Average hourly rate for a PM is £30 ph, but the daily rate average is £450 pd - or a 15 hour day (ha!).

So really there are 2 markets (at least) - hourly & daily. Daily, imho, is favoured by bigger institutions looking for experienced guys in high value skillsets, so the usual calculation of yearly salary / 1000 can apply.

Although the majority of posters on CUK seem to fit this category, there is a big market of simple hourly rate 'resource filling roles'. I left a £60k job some years ago, got back into coding, and am not ashamed to say I have (only!) got between £35 & £40 per hour. That is simply the market rate for my skillset, I'm one of the last guys around still contracting with it.

And I'm happy as we're still better off financially than when I was perm; but I have not been benched and not had many holidays. And it's been a bit seat of the pants stuff, a couple of months on the bench and we're fecked, until recently.

The key to not being benched in a tough market is getting extensions; this reflects a basic business principle which is the key to success is not getting sales but getting repeat sales.

Windows - £15-£17 per hour. Every man and his bob.

[DodgyAgent]

Hi

Im currently on 50K ( as of april) and thinking of going contracting, if I go contracting Ideally i would like to take home at least 1k extra every month (thats after tax). on that basis what daily/ hourly rate should i seek ?

the other quesiton is todo with job security, lets say i sign a 6 month contract. is it possible for the employer to terminate the contract early? and does it happen very often ?

im new to contracting and have limited savings. I can survive up to 3-4 month only, it be a disaster if I resign from my permie role and also end up having my first contract terminated early.

what are the measures I can take to ensure my first contract goes smoothly and doesnt get terminated before agreed end date?

I guess one option would be to only consider long contracts for now, ideally 6+ month rolling contracts?
any other advice?

Thanks

It is always useful to get off on the right footing with your agent. Firstly if he offers you a rate accept it and dont forget to tell him of any interviews you have and any contacts that may be helpful to him/her. This will ensure a smooth and easy (albeit poor) time for yourself

[EternalOptimist]

It is always useful to get off on the right footing with your agent. Firstly if he offers you a rate accept it and dont forget to tell him of any interviews you have and any contacts that may be helpful to him/her. This will ensure a smooth and easy (albeit poor) time for yourself

then grease yer bum-hole , and touch yer toes

[geoffreywhereveryoumaybe]

50k is a decent wedge - do you really want to give that up?
You won't have an employer
Yes, contracts do get terminated early - all mine have been - which is why I'm posting from under a bridge at Spaghetti Junction.

Look on the bright side, at least you're not posting from a bridge over Spaghetti Junction