Entry level contract opportunity (actuarial modeling)

[kryten22uk]

... Should I take it? ...

What a question! So many factors, most of them personal choice. But basically, its absolutely not 'worth it' to quit your 'well paid job' simply in respect of this single 6mth contract. However, if you like the idea of the ups and downs, stabilities and instabilities of contracting, then sure, give it a shot.

As others have said, £400 is on the low side for actuarial modellers, but then at only 1.5yrs experience, you really know naff-all, and stand a decent chance of extended periods on the bench.

[hungry_hog]

The rate is decent for contracting but low for actuarial roles

As you say however you are inexperienced and therefore I would say it is a good starting point

Depending on your other options you could take this, build up your experience and look to increase that day rate fairly quickly.

Good luck!

[Whorty]

My notice period is 1 month. It is actually very low rate for this field. Actuarial contracts usually go £800-£1400/day but require more experience and qualifications.

I was going to say something similar. I worked with actuarial contractors back in 2008 and they were on £900+ then. If this first role gets your feet under the table, then it may be low for your skills, but you can treat that first 6 monther as a 'training' role. So long as you can afford to come over, find somewhere to stay etc then give it a go. What's the worse that can happen?

[BlueSharp]

My notice period is 1 month. It is actually very low rate for this field. Actuarial contracts usually go £800-£1400/day but require more experience and qualifications.

Have you applied for any contracts in the 800 -1400 bracket? If agencies think they can increase their margin they will.

[Tsin]

I have the impression that this is not an actual contract offer... but more likely an add seen on one of the job sites or a keen agent trying his luck...

To the original poster: What's your notice period in Poland?

My notice period is 1 month. It is actually very low rate for this field. Actuarial contracts usually go £800-£1400/day but require more experience and qualifications.

[zonkkk]

Decent? It's absolutely ******* fantastic.. and almost too good to be true.

I have the impression that this is not an actual contract offer... but more likely an add seen on one of the job sites or a keen agent trying his luck...

To the original poster: What's your notice period in Poland?

[Zigenare]

Exploited, we work in a basement and not allowed food or drinks, and don’t get paid holidays


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Hah!!! I get a bucket of fish heads delivered twice weekly to my cell.

[northernladuk]

£400/day, so it seems decent for my experience (1.5 years)

Decent? It's absolutely ******* fantastic.. and almost too good to be true.

[siphr]

I have an opportunity to take 6 month contract in Telford. I am from Poland and have never been in UK. In order to make it work I would have to make many sacrifices including quitting my fulltime well paid job in Warsaw. The contract is £400/day, so it seems decent for my experience (1.5 years). Should I take it? Are contractors in UK usually exploited or treated fair like permanent workers?

It is up to you, whether you think it is reasonable. Contracting income is usually good what you really need to look out for are the risks. Specifically in your case, you are going to move a country, what if after a week for whatever reason the contract doesn't work out. Would you have the capacity to manage that? If so, then for how long will you be able to sustain yourself in that situation? If you are going to rent a flat, will you sign a lease? What implications would that have? Would you live in a hotel? If so how would that affect your contract rate.
I would think about things such as above, and if you are still happy then just go for it.

[GhostofTarbera]

Exploited, we work in a basement and not allowed food or drinks, and don’t get paid holidays


Sent from my iPhone using Contractor UK Forum

[simes]

This sounds like a more generalist question if the chap has never been in the UK...

Tsin, do you have an friends currently working in the UK? If so, they should be able to give you the general opinion.

As to contractors vs permanents, there is no difference.

As to an in depth understanding of contracting, you might need to read all the guides to the right first...

Good luck.

[NotAllThere]

Are contractors in UK usually exploited or treated fair like permanent workers?

I think you mean "Are contractors in the UK usually treated fair, or are they exploited like permanent workers?"

Mixed bag really. If you are paid enough, you can usually handle a little exploitation. So long as it's within the contractually agreed terms of course.

[Tsin]

I have an opportunity to take 6 month contract in Telford. I am from Poland and have never been in UK. In order to make it work I would have to make many sacrifices including quitting my fulltime well paid job in Warsaw. The contract is £400/day, so it seems decent for my experience (1.5 years). Should I take it? Are contractors in UK usually exploited or treated fair like permanent workers?