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Too late to start? And other questions...

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    Too late to start? And other questions...

    Hi,

    I've had about enough of my current company. I'd like to know more about contracting, but I suspect my situation isn't normal:

    1. I'm 38 years old - I guess one of the benefits of contracting is that you can build up a nice little nest egg and retire at 50. That's only 12 years away for me, not much chance to build a significant lump sum. So I'd have to work later than 50 - not a problem for me, but I rarely see older subcontractors. Is there a significant element of ageism to subcontracting?

    2. The last five years have been spent in team and project management. I haven't exactly kept my techy skills (C++ development) up to date, but I reckon it's a bit like riding a bike if you have good code structure. I want to market myself as C++ and Java coder (not without some preparation on the Java side, I should add!), but realistically, will I get a contract without recent technical work?

    3. Bearing in mind point 2 above, what sort of starting rate should I expect to get, and what would I be able to build up to after I'm back in the swing of things?

    4. How easy is IR35 to avoid, realistically?

    5. Any other advice, links etc?

    Thanks
    W

    #2
    Have you tried searching this site?

    Comment


      #3
      1. build up a nice little nest egg and retire at 50? probably not.
      Ageism. Yes there is probably a lot.
      Agents want twenty years experience from a twenty-year old.

      I'm 51. been contracting for 8 years. Not rich, comfortable.
      Recently took a year off. Could take another if push came to shove.
      But see answer to 2.

      2. will I get a contract without recent technical work?
      Why not look for a PM contract?
      'you're only as good as your last two contracts/years' is a phrase you'll hear more and more.

      3. what sort of starting rate should I expect to get? Check what's being offered on Jobserve, check if you can live on it, ask for more then you can negotiate down.

      4. How easy is IR35 to avoid, realistically? Wish I knew.
      Go inside IR35, take a small salary, put all the rest in pension?

      Comment


        #4
        1. Yes, but I have also worked with plently of older contractors - if you are good, you can probably overcome the ageism. In my last contract my contractor colleagues were 42, 56 and 64

        2. dunno

        3. dunno

        4. Impossible to say as it's badly drafted and unclear at best, but people seem to be having some success - have a search on this site - go on!

        Comment


          #5
          Originally posted by wanstronian View Post
          but I rarely see older subcontractors. Is there a significant element of ageism to subcontracting
          Eh? The bulk of the contractors i've worked with have all been old. Its not often i've seen a contractors younger than me and i'm not particularly young. Perhaps thats just the places i've worked and the role i do though?

          Comment


            #6
            I'm 47. No issues finding work at the mo.
            ...my quagmire of greed....my cesspit of laziness and unfairness....all I am doing is sticking two fingers up at nurses, doctors and other hard working employed professionals...

            Comment


              #7
              I wanted to retire at 40 with a nice lump sum. But then my lifestyle increased to absorb my income. Well - you can't take it with you.
              Down with racism. Long live miscegenation!

              Comment


                #8
                Originally posted by wanstronian View Post
                1. I'm 38 years old
                38 is too old to do anything but slow down and wait for death. I'm 38 too.

                2. The last five years have been spent in team and project management. I haven't exactly kept my techy skills (C++ development) up to date, but I reckon it's a bit like riding a bike if you have good code structure. I want to market myself as C++ and Java coder (not without some preparation on the Java side, I should add!), but realistically, will I get a contract without recent technical work?
                PMs earn more than developers without having to do any actual work. If you have the right acronyms on your CV, maybe you should stick to PM'ing. If not then you're not going to find it very easy to sell yourself as a developer without having done any for 5 years. If you're serious, find something to work on, like your own project, or something open source that you can point to in an interview as recent relevant experience. Remember nobody is going to pay a contractor to learn on the job.

                Also don't assume you can get a development job with just knowledge of a programming language. A lot of the C++ jobs I see at the moment want either Oracle or SQL Server, financial experience, or a maths degree, in addition to code monkeying. It's the specific industry knowledge that makes you stand out and gets you the higher rates.
                Will work inside IR35. Or for food.

                Comment


                  #9
                  Retire at 50 - yeah right. There are a sprinkling of contractors able to coin it for numerous years, most will have good times and bad as the technology/economy changes and they try to adapt.
                  Think slightly nicer car/house/holiday.
                  If we talk about whole life earnings, I suspect there will be little difference against someone who does say accountancy, becomes senior finance chap, gets decent company pension till he is 85.
                  The contractor might start earning more at an earlier age but don't get carried away that this will last forever, my yearly earnings graph looks like a scary rollercoaster (thankfully at a high point now !)
                  I do however enjoy the competition for jobs (when I win) and the buzz from starting somewhere new, the challenge etc.
                  Fortunately, there is an easy way to find out if there is any demand for you, apply for jobs from the boards (through contacts is good but isn't really the teeth of the market). I would pitch that you are available immediately due to the company downsizing.
                  You will rapidly find your personal level of demand out there. Currently, expect to struggle as there are thousands of hot PM's and Coders chasing the work round the country. If you do score something, start thinking about your next job because 3 months contract pay ain't going to cover you for long.
                  Many people turn to contracting when they have nothing to lose or have a nice payoff to give them some backup, I would suggest these are the only people who should be trying to get in the game at this point, the market is vicious currently.

                  Comment


                    #10
                    Originally posted by lukemg View Post
                    Currently, expect to struggle as there are thousands of hot PM's and Coders chasing the work round the country. If you do score something, start thinking about your next job because 3 months contract pay ain't going to cover you for long.
                    Many people turn to contracting when they have nothing to lose or have a nice payoff to give them some backup, I would suggest these are the only people who should be trying to get in the game at this point, the market is vicious currently.
                    To the OP: WHS (quoted above.)

                    Cheers,

                    Nomadd
                    nomadd liked this post

                    Comment

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