Reply to: Should I consider a contracting job? Currently I earn £82K as permanent in Scotland

[Spoiler]

How about places like Milton Keynes? Is this a reasonable place to stay for an easy commute to London and surrounding areas? or is Reading a better option? We were looking at Reading due to access to grammar school.

Good luck with Reading Grammar entrance (genuinely ) - for the 2019 intake 1,165 kids took the entrance exam, to fill 150 spaces.

[JoJoGabor]

No it’s £2K extra (not in total) - approx £1650per child - for a good place - and no free 15/30 hours on your new salary - you are above the threshold

Not quite true, al kids are eligible for the 15/30 hours of free childcare. Its child benefit you are not eligible for if either you or your partner earn over £50k

[GhostofTarbera]

How about places like Milton Keynes? Is this a reasonable place to stay for an easy commute to London and surrounding areas? or is Reading a better option? We were looking at Reading due to access to grammar school.

What no waiting list / catchment area / cost concerns with the grammar school ?

I moved to London (from Glasgow) years ago, I live near Canary Wharf on a very good contract rate

I would bite your hand off for £82K permie job in jockland

Do you have £600K for a small flat here ?


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[fiisch]

How about places like Milton Keynes? Is this a reasonable place to stay for an easy commute to London and surrounding areas? or is Reading a better option? We were looking at Reading due to access to grammar school.

I have the reverse dilemma.

I have just (literally - as of last Friday) moved to Buckinghamshire (between Bicester and Milton Keynes) from the South Coast and grammar schools were a driving factor.

Milton Keynes annual ST is about £6.5k per year with tube travel, Bletchley (near by) is £5.5k per year with tube travel, and similarly served for commuter trains.

However, adding in the cost of car park takes my commuting cost to >£500 per month plus the petrol, so consideration of any permanent IT roles in the City is now very difficult, as at least an eighth (or more likely a sixth) of my take home will be devoted to commuting costs. Currently contracting in the City, and I think the only way I would go back permanent is for the right role in and around MK, however fortunately there seems to be quite a few business with decent IT operations there (Santander, VW Financial Services etc.).

[NigelJK]

Contracted out of Hertfordshire (Near Potters Bar)) for a number of years. 30 mins into Liverpool St. on top of the M25 for Reading/Bracknell. Even possible to commute to Birmingham if you start early enough. House prices historically cheaper than other dormitory towns

[spongeym]

How about places like Milton Keynes? Is this a reasonable place to stay for an easy commute to London and surrounding areas? or is Reading a better option? We were looking at Reading due to access to grammar school.

I've lived in Ascot and traveled into London on the Reading train. You're looking at a commute into Waterloo of around an hour then an additional tube from there on. Also the operating company in that part of the world is terrible!! Bear in mind that when I started contracting I thought it would all be London, first 3 contracts were in Slough. Lots of work there and Reading & Bracknell too. Yes the rates aren't as high, but compared with driving to work rather than or what is a horrible train line and an expensive one too, I'd rather drive.

We've now moved to the Chalfonts, it's on the edge of the tube line but you'll pay a lot of money to live close to one of the stations so you don't have to drive and pay out for parking. Childcare costs for us is about £1500 a month.

[BroglieBoy]

If very lucky, could stay outside London and pay £8K season ticket to be fair

Or £2K rent a month for 2bed place in someone decent


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How about places like Milton Keynes? Is this a reasonable place to stay for an easy commute to London and surrounding areas? or is Reading a better option? We were looking at Reading due to access to grammar school.

[BroglieBoy]

Yes, but maybe he wants to move to London, and this isn't being driven by wanting to change jobs, it's just that he has to change jobs if he moves. Read the original post, that's how it sounds.

Yes, That is correct. The need is not for changing the job( as I am more than happy in my current job ) the need is to move towards London and my aim is to move without taking a big hit on my current salary.

It is not easy to find a permanent job anywhere paying close to £100K. From my own research, it seems like any job above £75 is very difficult to come by in IT industry.

I would not have considered contracting if the new job I am looking at does not have any travel. Since there is a lot of travel i am trying to evaluate if i should consider contracting. But based on the responses I have seen so far I am not convinced contracting is the right option :-)

[GhostofTarbera]

£82k in Scotland, and no travel.

£90k in London, 5 days a week travel away from your family.

There's only one choice really.

BTW £90k in London on a mortgage multiple might just about get you a 2 bed flat if you're lucky. In an ex-council block.

If very lucky, could stay outside London and pay £8K season ticket to be fair

Or £2K rent a month for 2bed place in someone decent


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[GhostofTarbera]

Should I consider a contracting job? Currently I earn £82K as permanent in Scotland

£2K for child care ... wow that's a lot compared to Scotland where it is around £900 to £1000

No it’s £2K extra (not in total) - approx £1650per child - for a good place - and no free 15/30 hours on your new salary - you are above the threshold


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[WordIsBond]

Yes, but maybe he wants to move to London, and this isn't being driven by wanting to change jobs, it's just that he has to change jobs if he moves. Read the original post, that's how it sounds.

[ChimpMaster]

£82k in Scotland, and no travel.

£90k in London, 5 days a week travel away from your family.

There's only one choice really.

BTW £90k in London on a mortgage multiple might just about get you a 2 bed flat if you're lucky. In an ex-council block.

[BroglieBoy]

Also remember, if wife working add an extra £2K a month for London childcare costs


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£2K for child care ... wow that's a lot compared to Scotland where it is around £900 to £1000

[GhostofTarbera]

Also remember, if wife working add an extra £2K a month for London childcare costs


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[Spoiler]

Also even when you do manage this most of us pay ourselves under the upper tax threshold so I'm actually skint the last two months of a year. I bet you get more cash in your pocket a year than I do because I don't want to cross the threshold. Yes the money is in the company but it's there until I finish contracting and take it out more efficiently. My yearly take home is artificially low because of it so whatever the calculators say you will NOT be seeing all that in your pocket for at least half a year and if you are planning to be tax efficient you won't see it until you retire.

You need to get yourself a partner with whom you can do some income shifting ... HTH