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First Contract - Offer

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    First Contract - Offer

    Okay, ever since graduating I fancied myself as a contractor. I now have 3+ years experience in ASP.NET/C#/SQL Server. I am currently permanent and handed my notice in on Monday. I immediately started the ball rolling and was offered a contract yesterday (Wednesday) working with two impressive companies - also allowing me to get my foot in the door with IB. The offer is £200/day.

    First impressions were, "flip! that's loads more than I am on now". I am 23 years of age - there are not many people I know earning more than that. Am I underselling myself? Or, is £200/day a good amount for a first timer, with 3ish years experience, and also gaining experience with two great companies?

    Also, I am potentially being offered 6 months rather than the originally stated 3 months. This is great guaranteeing me an income for 6 months, but are they trying to protect themselves from me demanding a higher rate after 3 months?

    I am setting myself up as a limited company. I know this is a difficult question. What would I expect my take-home pay to be on £200/day over a 6/12 month period? A vague figure would be great because I want to compare this to my current salary.

    you whut?

    #2
    http://calculator.contractoruk.com/

    Comment


      #3
      I'd say your on about £38k there (equiv to permie salary). Based on 45 weeks work.

      75% is not an unrealistic take home but the real benefits are getting the coy to buy stuff "pre-tax" e.g. phone etc to make sure you dont pay these out of your own pocket.

      I also started as a contractor at 23 (24 now). I may feel the need to start a sub 25 contractors group. You know so us kids dont have to be bothered with the hip replacement discussions.

      Comment


        #4
        Originally posted by youwhut View Post
        Okay, ever since graduating I fancied myself as a contractor. I now have 3+ years experience in ASP.NET/C#/SQL Server. I am currently permanent and handed my notice in on Monday. I immediately started the ball rolling and was offered a contract yesterday (Wednesday) working with two impressive companies - also allowing me to get my foot in the door with IB. The offer is £200/day.

        First impressions were, "flip! that's loads more than I am on now". I am 23 years of age - there are not many people I know earning more than that. Am I underselling myself? Or, is £200/day a good amount for a first timer, with 3ish years experience, and also gaining experience with two great companies?

        Also, I am potentially being offered 6 months rather than the originally stated 3 months. This is great guaranteeing me an income for 6 months, but are they trying to protect themselves from me demanding a higher rate after 3 months?

        I am setting myself up as a limited company. I know this is a difficult question. What would I expect my take-home pay to be on £200/day over a 6/12 month period? A vague figure would be great because I want to compare this to my current salary.

        you whut?
        The first contract is always the hardest.....if your happy with £200 a month then go for it. No one on here knows your personal circumstances and how much it costs you to live day to day. Once you build up your reputation then you can up your price and know you will get it. I started on £15 an hour and snapped at it cause i wanted to get my feet under the table. 4 years later i'm now earning 5 times that and have only worked with 4 clients (keep go back and forth to each one) so i know i'm worth the money otherwise they wouldn't ask me back over and over again.

        There is a lot of stuff to read up on regarding take home money from LTD co. It all depends on your contracts IR35 status. Search this forum for info on it before asking as you will only open yourself up to attachs from the select few.

        Good luck and welcome to the board. Everyone be nice and say hello
        Thats the way the cookie crumbles

        Comment


          #5
          Originally posted by Cooperinliverp00l View Post
          if your happy with £200 a month
          Hes not from New Delhi!!!

          Comment


            #6
            Originally posted by Cooperinliverp00l View Post
            Good luck and welcome to the board. Everyone be nice and say hello
            Hello

            Rule #76: No excuses. Play like a champion.

            Comment


              #7
              hello , an welcome, my first ocntract was for £160 a day, jus to get some experience, (had very little) on my second contract and that figure has nearly doubled.
              cut me - ill bleed rosso red

              Comment


                #8
                Originally posted by Cooperinliverp00l View Post
                Good luck and welcome to the board. Everyone be nice and say hello

                Comment


                  #9


                  (Oh and if you are a bird can you show us your norks?)
                  "Wait, I still function!"

                  Comment


                    #10
                    We're all being nice today.

                    If you're interested in the Ltd. company side of things, have a look at some free downloads
                    Last edited by Contractor UK; 31 July 2021, 14:34.

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