Reply to: LondonPM1's very own pollution thread

[NotAllThere]

No need signing out of this jungle

I'll believe it when I don't see it...

[Old Greg]

No need signing out of this jungle

Good look throwing bananas at each other and talking about the weather.

I’ll hang out on polechokers and cocksniffers

FTFY

[LondonPM1]

An excellent idea. Only I wish I'd selected the non-pollution - it was vastly outnumbered.

No need signing out of this jungle

Good look throwing bananas at each other and talking about the weather.

I’ll hang out on housepricecrash and landlordzone

[NotAllThere]

Mods can you snip thread after the original post, as rest is not relevant


Sent from my iPhone using Contractor UK Forum

An excellent idea. Only I wish I'd selected the non-pollution - it was vastly outnumbered.

[edison]

Thanks I was thinking 200 salary which I know is high and insane

When people talk about perm packages and benefits what are they taking a out. Sick pay 5% pension 20 days holiday and a 10% bomus? If that’s the case I understand the perm benefits

Fair point on 160 days at that level. I can believe that.

Do you agree that 600 == 110-120 as above

And what would you say 700 and 800 maps to

£200k salary is certainly not insane in the corporate world especially outside IT.

As a rule of thumb, the higher the basic salary, the higher the proportion of your overall package will be benefits. Most senior IT roles I see at say £120-150k basic salary have a maximum annual bonus typically around 30-40%. Lower down the scale is often 10-20%. Benefits can also include share options which can be very lucrative if you're in the right company in a growth phase. It can also include long term incentive plans (LTIPs) which can pay massive rewards but those are usually for the most senior level staff and in IT, probably only for a CIO.

Things can vary hugely by sector and company. I've worked in one global FMCG company where if you and the company had an exceptional year, someone at that salary band in IT could in theory get a 135% bonus. I guess the likes of investment banking used to pay large bonuses too. Car schemes can be worth maybe £5-10k p.a. Holiday is usually 25 days plus paid bank holidays (8 days.) Private healthcare if it covers your family can be worth about £2k. Pension is usually 5-6% contribution unless the company is tight. As you go up the salary scale, it's more likely the company matches contributions, up to say 10-15% of salary.

I had an interview for an IT Director permie role last year and the salary was around £130-140k but the benefits made it a maximum package of nearer to £220-230k. In my perm experience, my contract has stated bonuses are not guaranteed (obviously) but they aim to pay at least half the maximum bonus.

I haven't seen it mentioned on here for a while but an often quoted rule of thumb was take your hourly rate (day rate divided by 7.5) and multiply by 1000 to give an annual salary equivalent. So £600 day rate was equivalent to £80k salary. Up until Covid I reckon that was a reasonable approximation although it was less accurate as the salary went up. I would have said £700-800/day was about £90-115k salary until recently.

I'm not sure which has fallen proportionately more during Covid, I suspect day rates rather than perm salaries.

[jamesbrown]

Thanks I was thinking 200 salary which I know is high and insane

When people talk about perm packages and benefits what are they taking a out. Sick pay 5% pension 20 days holiday and a 10% pension? If that’s the case I understand the perm benefits

Fair point on 160 days at that level. I can believe that.

Do you agree that 600 == 110-120 as above

And what would you say 700 and 800 maps to

FOLPM1

[LondonPM1]

Putting aside the endless argument above about tax... are you talking about £200k package or £200k salary plus package? The latter would probably have at least half again in package.

A £200k salary would usually be a senior IT Director or CIO in most medium to large organisations. You're then talking about around £1200 interim manager day rate I reckon. One point that few people are probably aware of is at that level, the average number of days worked a year is not 250 but closer to 150-160 in practice.

Thanks I was thinking 200 salary which I know is high and insane

When people talk about perm packages and benefits what are they taking a out. Sick pay 5% pension 20 days holiday and a 10% bomus? If that’s the case I understand the perm benefits

Fair point on 160 days at that level. I can believe that.

Do you agree that 600 == 110-120 as above

And what would you say 700 and 800 maps to

[edison]

Thanks - That fits in with calc -

Would you hazard a guess on what 650 should map to

And 700 / 800

It might suprise some people but I get to 200K being equal to 800 a day

Id love to hear your thoughts

Putting aside the endless argument above about tax... are you talking about £200k package or £200k salary plus package? The latter would probably have at least half again in package.

A £200k salary would usually be a senior IT Director or CIO in most medium to large organisations. You're then talking about around £1200 interim manager day rate I reckon. One point that few people are probably aware of is at that level, the average number of days worked a year is not 250 but closer to 150-160 in practice.

[Old Greg]

Will block you if you continue to harrass me

Just give it a break - Lets talk rates and VAT and tax not nonsence

Just what I'd expect from a whiny pole choker.

[eek]

Will block you if you continue to harrass me

Just give it a break - Lets talk rates and VAT and tax not nonsence

We aren't hassling you but I'm loving the fact you think there is any job or contract for you in this country at the moment - everyone is cutting costs...

[LondonPM1]

Also, my company doesn't break the law.

Will block you if you continue to harrass me

Just give it a break - Lets talk rates and VAT and tax not nonsence

[LondonPM1]

I think for 600£ per day the ballpark permie role would be 110 - 120k. But you would only get it in a proper senior role and such roles are not usually in the open market, they are filled by mates.

Thanks - That fits in with calc -

Would you hazard a guess on what 650 should map to

And 700 / 800

It might suprise some people but I get to 200K being equal to 800 a day

Id love to hear your thoughts

[Old Greg]

I take risk with business and opportunities - Old Greg does as well.

What we don't do is do anything that draws HMRC's attention to us - as that will never work out well for you.

Also, my company doesn't break the law.

[Old Greg]

Old people like old Greg don’t take risks in life

Each to their own

Irregular verb:

I take risks
You evade taxes
He is doing a two stretch

[fullyautomatix]

fullyautomatix - Thanks for input - very useful

Can I ask you for your view please on when 600 per day equals a perm role? What is the perm salary that would sway you from 600 a day

I think for 600£ per day the ballpark permie role would be 110 - 120k. But you would only get it in a proper senior role and such roles are not usually in the open market, they are filled by mates.