Conversion formula into an equivalent permanent base?

[malvolio]

So the 1000 times the hourly rule implies 125 days per year (assume 8 billable hrs per day), that's not a lot at all. Compare to 180 days in the previous post.

Why would anyone go permie for 125 contract days per year?

So who pays for Employers NICs, holiday pay, sick pay, bank holidays, training, pension provision, accountants fees, travel, equipment and licences, stationery, bench time cover.......

Permie vs Contract is not a one-for-one days worked comparison. But hey, if you know a better approximation, do tell us the answer...

[kingcook]

Hi, what would you consider a fair permanent base for a contract of £x per day? Thanks.

It all depends on the location, from your home. There is no magic formula - it's what's best works for you.

You get travel paid for while on contract visiting client site (subject to 24 month rule) - not as a permie though.

No NI to pay while contracting (assuming you're outside IR35).

You only get ~4 weeks holiday as a permie -- not as a contractor though

[stek]

Conversion formula into an equivalent permanent base?

So the 1000 times the hourly rule implies 125 days per year (assume 8 billable hrs per day), that's not a lot at all. Compare to 180 days in the previous post.

Why would anyone go permie for 125 contract days per year?

Because of the variables I think, very rare u get 12 months in a year and even if you could, would you want to?

There's no way you'll never have set backs or long wife enforced breaks or severe health problems. I think I lost at least four months last year, old gap, heart issue (ICD) and a severe infection.

[p3t3]

Conversion formula into an equivalent permanent base?

So the 1000 times the hourly rule implies 125 days per year (assume 8 billable hrs per day), that's not a lot at all. Compare to 180 days in the previous post.

Why would anyone go permie for 125 contract days per year?

[SandyD]

Contracting To Permanent Calculator - what salary do you need to earn the same as permanent?

[malvolio]

Somewhere in between for me. I am looking to give up contracting for 180 times daily rate which I consider a good deal.

I will however have less cash in my pocket.

Hourly * 1000 gives you the annual salary level to get roughly the same the same net take home.

But are you comparing like for like anyway? I recently turned down a switch to permiedon in my current role. One reason (among many) was that what I'm doing for this client is not what I do for a living, I'm merely supplying those particular skills to them. My actual skillset - and hence an appropriate basis for a discussion on salary - is considerably higher.

[Old Greg]

Contract rate of £275 should ideally go for a perm of £50-60k

£300 then higher..

Ur kidding!

Rule of 1000 on hourly rate - £60/hr equals £60 equiv perm

Somewhere in between for me. I am looking to give up contracting for 180 times daily rate which I consider a good deal.

I will however have less cash in my pocket.

[p3t3]

You said equivalent ..... Tax/NI etc is a touch higher when you's a permie.

If the client offers you conversion to permie, surely they wouldn't do it 1:1, what would be an acceptable permanent base for a £300 p/d contract?

[bless 'em all]

Ur kidding!

Rule of 1000 on hourly rate - £60/hr equals £60 equiv perm

You said equivalent ..... Tax/NI etc is a touch higher when you's a permie.

[stek]

Conversion formula into an equivalent permanent base?

Contract rate of £275 should ideally go for a perm of £50-60k

£300 then higher..

Ur kidding!

Rule of 1000 on hourly rate - £60/hr equals £60 equiv perm

[rurffy]

Hi, what would you consider a fair permanent base for a contract of £x per day? Thanks.

Contract rate of £275 should ideally go for a perm of £50-60k

£300 then higher..

[p3t3]

Hi, what would you consider a fair permanent base for a contract of £x per day? Thanks.