Bugger contracting!

[DimPrawn]

Fecking amateurs.

[BlasterBates]

Yes but 200 days is a conservative estimate of how many days you bill, and you have a tax advantage. Even when I was on the bench for 3 months I still billed over 150 days and that was the worst year.

I reckon over 10 years even with a recession in between you'd be biling on average over 200 days.

Then there is the tax advantage:

Thus with a conservative estimate, net I would expect to get

£600,000 over ten years ie. 60K a year and optimiszically 70K

Where as with permie on 70K I would expect to get about

£450000 i.e. 45K net a year

So on average I would say £400 would give you 15-20K more (after tax).

In fact £500 is more normal in London, so I would expect to earn around

70K a year net.

[TheMonkey]

Yeah but this is a trendy outfit so I get to be lazy and EARN WHAT I NEED

[DimPrawn]

A good contractor can net £70K in the pocket, take twice as many holidays as a permie, AND still find time to post on CUK.


HTH

[threaded]

A good contractor can net £70K in the pocket, take twice as many holidays as a permie, AND still find time to post on CUK.


HTH

Nah, that'd be yer average contractor.

A good contractor can net 140k, three times as many holidays, AND still find time to post on CUK.

[Francko]

In fact £500 is more normal in London, so I would expect to earn around

70K a year net.

It wasn't that normal about 2-3 years ago. It all depends on your skillset and sector, of course. At the moment some investment banking positions as project managers offer you something like that. But then again it compares with a 90-100k permie position.

BB: if we count 80k gross income for 200 days in a year, how can you net 60-65k? Isn't that too much?

You might also consider that some companies offer some real tangible benefits to permies (i.e. how much do you pay for private insurance? mine is free and it's very good - and heard that if you want to do it privately it will cost you over 200 a month).

DP: to net 70k you will need to be on 500 a day and outside IR35 and have some dodgy tax practices too (it's not everybody's cup of tea).

[TheMonkey]

And what does that money bring you?

Possessions and nothing else.

[threaded]

And what does that money bring you?

Possessions and nothing else.

Pah, money can buy you love as well.

[TheMonkey]

Pah, money can buy you love as well.

Yes - and that kind of love either gives you a nasty rash or takes all the money in a divorce court.

[DimPrawn]

DP: to net 70k you will need to be on 500 a day and outside IR35 and have some dodgy tax practices too (it's not everybody's cup of tea).


Outside IR35? Yes, that's easy peasy. I can't imagine WHY anyone has to accept any contract and working practices that don't take you well outside IR35. Just don't choose the bum on seat perma temp ones. Leave those for the FTV's and perma temps.

Tax? Just standard Ltd company practices.

You should be able to turnover 100K+ without breaking a sweat if you have a good CV, current in demand skills, top education, and good business abilities.

If not, get a job at Tescos.