Reply to: Next year time for 6 months off?

[Viktor]

Did he believe I am getting £900/day

You are AndyW and I claim my two (devalued by inflation) quids...

[Andy2]

Thats a mistake, never believe a contractor when they are discussing rates.

Did he believe I am getting £900/day

[tay]

I've done the calculations based on the thread first rate/ current rate...

Thats a mistake, never believe a contractor when they are discussing rates.

[Viktor]

Is that considered a bad rate now?

I've done the calculations based on the thread first rate/ current rate...

[ace00]

So let's say you finish the contract sometimes next year Winter/Spring. You want the same rate on the next one, but after two months on the bench you decide to take an offer for let's say £350/day. In
..........

Is that considered a bad rate now?

[tay]

Yes, Gary, we know that...

Oh the irony....

[DieScum]

It's definitely something I'm looking at. Two worries - would you get bored after a bit, would you come back and find it hard to get back in to the job market.

I am vaguely thinking of something along the lines of -

Summer 2009 -
- train to Europe - 2-3 months learning German summer school (can get it for 700 euros fees and board a month)
- trans-siberian railway across Russia to Asia
- learn Thai for a bit in the city/laze on various beaches
- Over to Oz and NZ try and pick up an IT contract
- back to blighty!

[Viktor]

So let's say you finish the contract sometimes next year Winter/Spring. You want the same rate on the next one, but after two months on the bench you decide to take an offer for let's say £350/day. In April Gordo makes "extraordinary" announcements in the next budget and contractors will have to pay more tax, directly or indirectly... after three or six months your contract finishes...the market is tough and you may end up looking for a contract in holiday months (July/August or Dec/Ian). You clock 3 months on the bench...
In the meantime cost of living is on the rise...I reckon you can't go below £2000/month, maybe £2500/month next year (don't forget inflation is 5%!!)
With 7 months/year at an average £350 (let's do the maths based on this...) you end up with gross income approx 50k. Cost of living between 25k - 30k. Tax...Well...Wait until the next budget!!!

My bet is that many contractors (especially "first timers") will go permie if the market gets tough...They will not re-enter in the contract market any time soon so there will be again a moment when the market will be balanced towards the contractor.

I can live abroad in Eastern Europe with less than 1k/month like a King (I have a property, no mortgage, no debts). So even if I don't work for 9 months I will only loose 9k. I will have free time for training and hobbies.
IF I want to work I could be on half or even a third of an UK rate and still have the same money after 9 months...I'm somehow surprised by the findings but I've done the maths twice...

Am I missing something?!?

[ThomasSoerensen]

Who needs maths, I could live in Koh Samui (thailand) for less than 2000 squids a year and still have a good time

Being a rent boy in Thailand is not my idea of "time off".

But if it qualifies as "a good time" for you then fair play.

[TheBigYinJames]

More reason to approve of those who can leave, doing so.

Loosens up the market for the rest of us.

[expat]

Not an option for those of us with families.

More reason to approve of those who can leave, doing so.

[chef]

Not an option for those of us with families.

<in the voice of Nelson from "the simpsons" > Haaaa Ha </nelson>

[Andy2]

I think that if you can afford it, have little debt and can live abroad in a cheap place, then 6 months off makes sense during a downturn. I can do some maths if you want...

Not an option for those of us with families.

[Churchill]

If I'm out of contract next year I'm thinking of renting in the Languedoc for 6 months, learning French and surviving on cheap red wine, cheese and garlic.

Practice your surrender technique!

[Lockhouse]

If I'm out of contract next year I'm thinking of renting in the Languedoc for 6 months, learning French and surviving on cheap red wine, cheese and garlic.