Annual salary contract

[AndyH0]

Hmm, 65k a year is something like 250 per day.
That's a pretty bad daily rate for a contractor, even if you are a junior.

My thoughts also. It is half the rate I could get if went contract based on what some of my colleagues recently left for. I don't think I will be taking it. It is outside London although I live in London. I have another interview next week for one in London.

[gabox01]

Depends where you are and what you're doing, but £65k/year is not unattainable as a permie, in London certainly.

Hmm, 65k a year is something like 250 per day.
That's a pretty bad daily rate for a contractor, even if you are a junior.

[AndyH0]

Just finished. It is a contract with an hourly rate. The figure had been presented to me as an annual amount. It assumed no holiday including bank holiday. A bit misleading. So not much better than permie for me.

[b0redom]

Fortunately this one is paying far more than a permie job. Benefit to joining the company pension scheme is to get their contribution which is typically double yours and at least 9% total.

Depends where you are and what you're doing, but £65k/year is not unattainable as a permie, in London certainly.

[ASB]

Fortunately this one is paying far more than a permie job. Benefit to joining the company pension scheme is to get their contribution which is typically double yours and at least 9% total.

On the assumption that it is a fixed term contract you may have more rights than you expect; essentially same benefit packages etc. Sam redundancy packages (the problem here is that it is 2 years before they kick in, as per a permie employee).

https://www.gov.uk/fixed-term-contra...ployees-rights

[AndyH0]

Fortunately this one is paying far more than a permie job. Benefit to joining the company pension scheme is to get their contribution which is typically double yours and at least 9% total.

[malvolio]

Normally you will have the same benefits as a permie on a fixed term contract.
They must offer you paid holidays, pension etc.
However you will also have the same disadvantages a as permie. Probation time, Reviews, team outings, christmas dinner, etc

No, you can join the pension scheme (although why would you) but they don't have to include you. No redundancy either, and no option to extend on completion.

[Eirikur]

Normally you will have the same benefits as a permie on a fixed term contract.
They must offer you paid holidays, pension etc.
However you will also have the same disadvantages a as permie. Probation time, Reviews, team outings, christmas dinner, etc

[b0redom]

Fixed term contracts seem to offer the worst of all worlds. The ones I've seen offer permie like money with no security. The reason you're typically paid more as a contractor is that you're a disposable resource. The ones I've seen offer a pro-rata 'rate', so you don't get holiday etc....

As others have said though, it depends completely on what the contract says, whether it's inside IR35 and a host of other things.....

[stek]

And less than half a proper contract

[AndyH0]

What does the contract say? Find out, then you can negotiate.

I will find out tomorrow. If it is an FTC then it is employment rather than contracting. It pays better than permanent at least!

[rsingh]

Interesting. Thanks. That makes some more sense. Does this give me full holiday, benefits etc. on top of the £65k?

What does the contract say? Find out, then you can negotiate.

[AndyH0]

The world of fixed-term employment contracts.

Interesting. Thanks. That makes some more sense. Does this give me full holiday, benefits etc. on top of the £65k?

[jamesbrown]

This could be my first step into the contract world!

The world of fixed-term employment contracts.

[AndyH0]

Hi. I'm new to the forum. This could be my first step into the contract world!

I'm going to an interview tomorrow for a contract job. It is 12 months and pays £65k. I have a couple of questions about this that you may be able to help with.

As the salary is stated as an annual amount does this mean I need to subtract holiday and bank holidays etc.?

What kind of permanent salary is this the equivalent to considering the question above?