Reply to: Getting seriously buttered up to go perm

[BlasterBates]

Where are these 10% pa shares? PLEASE!!!!

Over the long term you'll earn about 10% a year on shares. I believe the biggest equity fund in Germany (DEKA) has averaged 10% since its inception 30 years ago.

But just to give you an example

A good share

[weboo]

Having got kids and plan more soon(probably take advantage of paternity too eh!), money is not the first thing I think of anymore. I know we get paid more, I know we pick n choose where we work. To be honest, I'd make more money from property than contracting with my spending habits. I'm hoping that going permie with a local firm will give me the time I havent had in the past to spend with the family and persue other interests. I bet in 6 months I'll be bored, divorced and skint....but there are more things to life. If it hits the fan, then I'll be on jobserve again looking for contract in 0 days with my skills every 5 minutes.

[Numptycorner]

In 5 years if you stay contracting you'll be 100 grand better off after 5 years. A 100 grand on the stock market will earn you 10 grand a year. After 10 years you'll be quarter of a million better off and 20 years we're talking around a million.

Just that you are aware of the financial implications.

Where are these 10% pa shares? PLEASE!!!!

[threaded]

Buttering up always make me to smell a rodent...

Do remember that if an offer sounds too good to be true, it often is!

I'd say, biff them for more money, etc., and have as part of the contract that if they dump you in the first 3/6/9/12 months they pay lump sum, gardening fee, to make up to your previous contract rate (and that includes all the hours they've had you do as unpaid overtime whilst a permie). Sliding scale as appropriate.

I think the response that'll provoke will tell you exactly what you need to know.

[BlasterBates]

In 5 years if you stay contracting you'll be 100 grand better off after 5 years. A 100 grand on the stock market will earn you 10 grand a year. After 10 years you'll be quarter of a million better off and 20 years we're talking around a million.

Just that you are aware of the financial implications.

[King Cnvt]

Your salary now is

£400 * 225 * 0.9 (to take account of employers contributions)

= £81000

If you have to travel then subtract travel expenses before tax.

£30,000 is a mighty big cut.

Shhhhh!

One less contractor!

[BlasterBates]

Your salary now is

£400 * 225 * 0.9 (to take account of employers contributions)

= £81000

If you have to travel then subtract travel expenses before tax.

£30,000 is a mighty big cut.

[weboo]

Its exactly what I'm gonna do. they have tabled a slightly better offer which included backdating my start date to jan so that I get the full annual leave allocation in between now and jan and bonus pro rate stuff. In addition, the role they have in mind is a blank canvas...so I can more or less book any courses I like. I am looking at it like contracting=surfing and permie=waxing. At some stage the board will need waxing and now is the time.
Yes the money is less, but I'll be back next year with a new board to surf on bigger waves.
Thanks for your replies, I will continue to look on these boards for laughs and serious stuff. Good luck everyone

[Bright Spark]

contracting is about risk and adventure, not knowing what is going to
happen in the next few months, trying to seek opportunities, keeps me
excited and interested in what I am doing, also motivates me to learn
new stuff.

knowing that I'll be stuck in a place as permie is a bit like serving a
prison sentence.

[Cowboy Bob]

I'm not in contracting for the money, I'm in it for the lifestyle. I could hypothetically be bought though - but it would have to be £100k+. Even then I'd probably end up handing in my resignation after about 18 months by which time I'd be sick of the politics...

[DaveB]

Just because they are not offering an extension now doesn't mean they wont be work in the future, especially if you have been there before acted professionally and the client likes you.

Lack of profesionalism looks bad on you and reduces the chances the client would want you back or would want to take on another contractor in future, which is bad for all of us.

And no, they can't give a bad reference but they can refuse to give one at all. Employers will read between the, non-existant, lines and work it out for themselves.

[andy]

A permie in my office is having paid leave for the last 7-8 months due to depression .Another one broke his leg and is off for 6 months.Joys of being permi.

[n5gooner]

AND...it shouldn't affect references if you do it right - as a permie, you cannot be given a bad reference just because of "health problems". Check your workers rights manuals!

thats correct, but they can refuse to give a referance......

[SallyAnne]

AND...it shouldn't affect references if you do it right - as a permie, you cannot be given a bad reference just because of "health problems". Check your workers rights manuals!

[SallyAnne]

And get screwed over for references for his next gig and never work for that client again.

The client has already said "no more extensions".

What are you all being so "loyal" for?