Reply to: 100k perm + options its a Punt?

[MarillionFan]

Afternoon all

i have recently been approached about a perm role working along side a mate of mine. Good company, good tech etc. Offering 100k plus stock, WFH mostly . I normally contract out at 550-650 a day which is more but doesn't factor in perm benefits etc and I'm commuting 3/4 hrs a day on average, what does the learn-ed panel say? Take it or stick to contracting? It may be worth a punt IMO

No brainer for me. Take it, give it 6 months and see and then go from there.

Take it, if it works out great, if it doesn't then back to contracting - you're not losing out by doing it

Both what they say.

I've done it a couple of times for a 100k base + shares. I've found that overtime that's grown, with my last gig getting to 250k a year with all the shares/benefits. Once you reach that point though you feel like you've become owned.

Anyway, nothing to lose.

[AnthonyQuinn]

Afternoon all

i have recently been approached about a perm role working along side a mate of mine. Good company, good tech etc. Offering 100k plus stock, WFH mostly . I normally contract out at 550-650 a day which is more but doesn't factor in perm benefits etc and I'm commuting 3/4 hrs a day on average, what does the learn-ed panel say? Take it or stick to contracting? It may be worth a punt IMO

550-650 normally translates to 80K in the perm world. This is a no brainer for u.

[northernladyuk]

Problem is with a 3 months notice which you will undoubtedly have after 6 or more months it will be virtually impossible to find a contract

I left before my probation was up. You should know by then.

[Whorty]

The latter . Am mulling it over.

You'll find it's more that the money but the lifestyle and freedom that contracting gives over permiedom. For me, there is always light at the end of the tunnel for a contract, so i know I can always look forward to leaving if the role/client is pants. Not having this in a permie job would be quite stressful for me at least after so many years in the contracting game.

Only you will know though what works for you.

[SueEllen]

I ain't gone yet bro still waiting for the official offer letter innit

Bye

Oddly you will be in my line of work.

[edison]

Just to bring closure to this thread folks I have indeed accepted the perm role, am keeping the Ltd open until the end of the tax year as by then I will have an answer to the eternal question from the Clash (will I stay or will I go...), but 100k perm WFH with options mean I may be waving goodbye for good in a few months time 😢

I think you made a good decision based on the current contracting climate and maybe more importantly with one eye on future IR35 changes.

It all depends on what you want most from work/contracting - money, skills development, work/life balance or happiness? I contract to allow more time off each year but my income has worked out a bit lower than I planned.

During a contract last year, I turned down the chance to go perm at the client. Whilst the salary was fairly good, there was little package so overall I didn't feel I could take the drop in income. I've since started another contract and I really miss the previous role where I was a lot happier. Sometimes money isn't everything (though it helps!)

[SlipTheJab]

Taaaaaxi!!!

I ain't gone yet bro still waiting for the official offer letter innit

[northernladuk]

Taaaaaxi!!!

[SlipTheJab]

You still here?

[northernladuk]

TBH In 5 years the IPO should have happened and I'll be too busy deciding what colour Ferrari to buy to worry about that

You still here?

[SlipTheJab]

How much will the 100k be in 5 years (i.e. salary progression)?

TBH In 5 years the IPO should have happened and I'll be too busy deciding what colour Ferrari to buy to worry about that

[SlipTheJab]

TBH I'll let it ride until the new year now, got most of December off anyway so will worry about it when I get back

[ChimpMaster]

Following on from this what do ppl think about keeping the Ltd dormant for the next 6 months versus just letting it carry on as normal, plan is to wind up end of march if things go well, going dormant means 30 quid a month fees rather than 90 quid but does that mean I cant pay divis and expense stuff while dormant? Yes NLUK I will be asking my accountant , just a quick straw poll will do for now

If you have sufficient funds you might as well kick off the liquidation process because it can take months to complete. Check with MVL Online first though, that if you change your mind, what is the latest point at which you can stop the liquidation.

[northernladuk]

Depends on a number of factors as to what the most tax efficient thing to do is. Not sure there is an answer without the details.

[SlipTheJab]

Following on from this what do ppl think about keeping the Ltd dormant for the next 6 months versus just letting it carry on as normal, plan is to wind up end of march if things go well, going dormant means 30 quid a month fees rather than 90 quid but does that mean I cant pay divis and expense stuff while dormant? Yes NLUK I will be asking my accountant , just a quick straw poll will do for now