Reply to: Newbie

[phynbarr]

As you are concerned about rate why would you be looking at PSO gigs which pay less especially when you’ve been a PM for 10 years?

There's a lot of competition out there and I thought PSO might be easier to break into

Thanks

[phynbarr]

Thank you

[phynbarr]

Don't run towards the fire.

Thank you. Very comprehensive. And helpful

[LondonManc]

The other issue with project management is that more and more companies are going with agile methodologies and you need to be a proven scrum master or product owner rather than a project manager these days.

[PlanB]

This forum is actually for ex-contractors. However you're making the first important step.

Ex-contractor here, sitting the great storm of 2019/2020 out but happy to set sail again should the waters calm.

In my own opinion the only only thing standing between many contractors and multi month long layoffs is blind luck.

I know of several happily sat in 2-3 year long contracts, permiecontractors who have no clue how bad it is out there.

If you are in a niche market with plenty of insider contacts it still might be worth a punt but anything other than that and chucking in a well paying permie job for contracting is an act of insanity.

I remember 9/11 and 2008 and they were mere blips compared to this.

[Cirrus]

Speak for yourself, quitter

So you're still contracting?

Not for long...

[ladymuck]

This forum is actually for ex-contractors. However you're making the first important step.

Speak for yourself, quitter

[Cirrus]

8) I want to be a contractor so I can take part in this forum

This forum is actually for ex-contractors. However you're making the first important step.

[ladymuck]

If it wasn't for friends I wouldn't have had half as many long term gigs. Using your network to find work is not cheating

[mb31]

Agree. The way I look at it a 6 month contract effectively buys me another 12 months of permie salary and I need to keep a good buffer. I also have substantial savings and benefits to fall back onto but that wouldn't be ideal.

One of the big things I missed off my list is that contracting gives me a good excuse to have gaps in my CV.

My permie job was terminated by mutual consent within two weeks but that's the price you have to pay when taking a settlement. I had a couple of permie job interviews early November where the interviewers were clearly raising their eyebrows about the gap and I don't like having to lie about it.

[GhostofTarbera]

Getting canned is low risk because I'm consulting for an old friend... he knows about the disability (and the fact I'm reliable).

It wasn't an advertised role, I spoke to an agent because I knew the client might be interested and the agent made a few phone calls. I didn't even need an interview. This was just over a week after I finished my permie job and I even had the luxury of dictating to them when I would be willing to start. The only thing I slipped up on was I think in hindsight I could have negotiated a better rate although their offering is consistent with the market rate for a generic EC&I engineer, which is okay for a starter.

I'm under no illusions that it will be this easy in future but it's nice to have a bit of luck for a change because my permie role turned into a right tulip storm.

Getting a contract via an old friend is totally different than competing in the open market with seasoned contractors, I’ve had the same myself


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[mb31]

If you get canned after a few weeks you will be fine then

Hopefully enough clients in your area to fill the void

How did you get this role ?

Getting canned is low risk because I'm consulting for an old friend... he knows about the disability (and the fact I'm reliable).

It wasn't an advertised role, I spoke to an agent because I knew the client might be interested and the agent made a few phone calls. I didn't even need an interview. This was just over a week after I finished my permie job and I even had the luxury of dictating to them when I would be willing to start. The only thing I slipped up on was I think in hindsight I could have negotiated a better rate although their offering is consistent with the market rate for a generic EC&I engineer, which is okay for a starter.

I'm under no illusions that it will be this easy in future but it's nice to have a bit of luck for a change because my permie role turned into a right tulip storm.

[GhostofTarbera]

phynbarr I'm about to switch from permie to contracting for the first time so I'm a dissenting voice on this thread and as an inexperienced contractor I could get the wrath of the long timers.

However, it might be worth reading my list of reasons for taking the plunge to see if any apply to your situation:

1) I got a big settlement from my job just gone in October. It equated to over a year's salary. I trimmed it with a pension AVC for tax efficient purposes but I've still got a permie salary in the bag until next October. My financial position is therefore low risk.
2) I have a long term health condition that I can largely manage without taking any time off but I would find the spells sat on the bench quite useful (for example I'm having a break at the moment and enjoying spending time with the kids).
3) As you can see from 2) money is not my primary motivation.
4) My contract rate for a 6 month contract is going to be double my permie salary.
5) My client is in a part of the country where they struggle to get skilled staff. They are parachuting me in to resolve issues that I raised against them when working for an independent company. It's bespoke consultancy and if they declare my inside IR35 then they could be a bit stuffed because I'm niche.
6) I'm trying to build a relationship with another company that declares everyone outside IR35. They are a medium sized company so they're rates are £5-10 ph lower than big companies but they are interested in contracting me directly, which should more than make up for the difference. The company are also based on my doorstep.
7) If I do get declared inside then I can afford to wrap up a ltd company after a short period of time and I'm willing to take on the extra hassle.
8) I want to be a contractor so I can take part in this forum and I think everyone loves me on here already, particularly the moderators.

If you get canned after a few weeks you will be fine then

Hopefully enough clients in your area to fill the void

How did you get this role ?


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[mb31]

phynbarr I'm about to switch from permie to contracting for the first time so I'm a dissenting voice on this thread and as an inexperienced contractor I could get the wrath of the long timers.

However, it might be worth reading my list of reasons for taking the plunge to see if any apply to your situation:

1) I got a big settlement from my job just gone in October. It equated to over a year's salary. I trimmed it with a pension AVC for tax efficient purposes but I've still got a permie salary in the bag until next October. My financial position is therefore low risk.
2) I have a long term health condition that I can largely manage without taking any time off but I would find the spells sat on the bench quite useful (for example I'm having a break at the moment and enjoying spending time with the kids).
3) As you can see from 2) money is not my primary motivation.
4) My contract rate for a 6 month contract is going to be double my permie salary.
5) My client is in a part of the country where they struggle to get skilled staff. They are parachuting me in to resolve issues that I raised against them when working for an independent company. It's bespoke consultancy and if they declare my inside IR35 then they could be a bit stuffed because I'm niche.
6) I'm trying to build a relationship with another company that declares everyone outside IR35. They are a medium sized company so they're rates are £5-10 ph lower than big companies but they are interested in contracting me directly, which should more than make up for the difference. The company are also based on my doorstep.
7) If I do get declared inside then I can afford to wrap up a ltd company after a short period of time and I'm willing to take on the extra hassle.
8) I want to be a contractor so I can take part in this forum and I think everyone loves me on here already, particularly the moderators.

[BigJohn]

I would say go for it if contracting is what you want. Just know that right now is seriously uncertain times with IR35, Brexit and the seasonal freeze that slows down perm as well as contract recruitment until the early parts of the new year.

It’s great that you currently have a perm role so you aren’t desperate and can make whatever excuses you need to leave once you find your first contract.

In response to some of the above saying don’t do it, don’t listen to them. Why would an “experienced” contractor be any better at a role than a permie with 10 years experience? I’m sure everyone has worked alongside a tulip contractor just as much as you see tulipty permies. You just need to market yourself well and you’ll get there.

Regarding rates have a look on the job sites and itjobswatch.co.uk to see what the going rate is.

As you are concerned about rate why would you be looking at PSO gigs which pay less especially when you’ve been a PM for 10 years?