Reply to: £550/day vs £70k

[scooby]

So £550/day outside IR35 or £70k perm with normal benefits. Same role same company.

WWYD ?!!

For me the £550/day would just edge it, but gets one thinking doesn't it....?

I've just left a solid £60k per year perm job with great prospects for £500pd. i didnt see a contest! that and the contract is filling several gaps on my CV!

[Scrag Meister]

Personally I'd take the contract, as after a year they may ask you if you would like to go permi. This gives you a year to figure out if the company is one you want to work for and earn a load more than the permies who are there.

FTFY

[bigcod]

Personally I'd take the contract, as after a year they may ask you if you would like to go permi. This gives you a year to figure out if the company is one you want to work for.

[VirtualMonkey]

I've also taken the plunge to permiedom...well...I will be in a month or so (just onemore contract )
400/day to 63.5k and no problem with working from home a couple of days a week.
We'll see how it goes.....already feel a bit trapped by it and not started yet but it's a good chance to get my skills up and get closer to enterprise architecture

[Bod]

It would take a 2-year bench stint, plus electrodes on the Jacobs, to ever make me go permie.

[Viking01]

perm vs contract

Sometimes being a permie does have benefits (shock horror)

[lukemg]

Sounds like a good decision. All these need to be a personal decision because when you factor in families, need for stability etc it's a very different decision to being single/younger.
Also, as you get a bit older and more experienced it becomes more of a ballache to not be able to influence how things are setup and done, perm job at the right level can give you this IF you can settle into it after contracting and that's a big IF.

[monkeyrhythm]

crikey that's good....

it all depends on skill set and market doesn't it (and a bit of luck)
I'm on £400 - sometimes it's £450 or even more, but usually in the £350 to £450 bracket and I'm struggling to find a perm role at £45K .....at £75K I'd bit their arm off.

well done

Cheers Olly (I was expecting to get caned on here for my decision so the first post being a congratulatory one was a nice surprise). To be honest, for my skillset and the role I was arguably a little underpaid at £450 a day but the permie offer is undoubtedly a good one. It was still a very difficult decision though; by the time pension comes out and then tax it's a big drop in income but I'm happy it's the right move for me at this time.

[Olly]

crikey that's good....

it all depends on skill set and market doesn't it (and a bit of luck)
I'm on £400 - sometimes it's £450 or even more, but usually in the £350 to £450 bracket and I'm struggling to find a perm role at £45K .....at £75K I'd bit their arm off.

well done

[monkeyrhythm]

I've just traded in my £450 a day contract role for a £76k (that figure includes pension etc.) a year permie job as it means I can work from home 95% of the time.

[2BIT]

You still could have made more in a Ltd inside IR35.

it is coming, I need a few things to calm down so I can dedicate some time to getting it set up

looking at the IR35 checklist I fail on some major points so assumed that even going through an LTD i'd be hit for the 40% tax rate

[radish2008]

Put it this way, if you take the 550 contract you'll have a lot more money in the bank at the end of the year. If you take the permie you'll have an "intangible benefit", you're less likely to be on the bench, you can be ill, a slightly better pension, you will have attended internal seminars and be "more valuable" and a gym card,

So what do you want 30-40 grand extra in the bank or "intangibles", your choice.

[JamJarST]

Yeah having double checked I would have been caught by IR35 for my last three contracts so using an umbrella is just easier

You still could have made more in a Ltd inside IR35.

[2BIT]

£600/day and you are working through an umbrella. Do you know how much unnecessary tax you are paying?

You can switch to LTD mid contract and you are going to be about £1400/month better off...

Yeah having double checked I would have been caught by IR35 for my last three contracts so using an umbrella is just easier

[2BIT]

£600/day and you are working through an umbrella. Do you know how much unnecessary tax you are paying?

You can switch to LTD mid contract and you are going to be about £1400/month better off...

not out of choice just had to move quickly and its only a short term contract, once I'm all set up I may well change but for now Ill have to stick with the umbrella