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Contract or permie?

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    Contract or permie?

    Would be interested to know people opnion on this,

    I'm currently coming contract on about 450 a day doing a technical role.
    I've been offered a permie role just around the corner from where I liver from 42K with overtime, and a final salary pension scheme.

    I've only been contracting for about 6 months, and am a little inclined to stick at despite the fact that my company always renews me at the last minute. But obviously jobs round the corner with final salary schemes don't come up that often !

    What do you reckon ?

    #2
    there are various "contract to perm" and pension calculators at :-

    http://calculator.contractoruk.com/

    At this stage of my "career" I would probably take a steady £42K permie role if it was on my doorstep because

    a) I am sick of working in south east and living >100 miles away (I have done it for far too many years)

    b) I have a couple of young kids who are starting to complain about me being away

    c) I am very lucky to be pretty much "sorted" financially

    d) the ongoing nonsense of IR35 / S660A etc etc gets pretty tiresome after a few years

    e) the economy is on a knife egde and contracts could suddenly dry-up if conditions worsen (and yes I do realise that permie jobs can be disposed of also)

    At the end of the day you need to look at your own circumstances, however I dont think that your decision should be based only financial aspects though

    HTH

    Comment


      #3
      Originally posted by ourrob
      Would be interested to know people opnion on this,

      I'm currently coming contract on about 450 a day doing a technical role.
      I've been offered a permie role just around the corner from where I liver from 42K with overtime, and a final salary pension scheme.

      I've only been contracting for about 6 months, and am a little inclined to stick at despite the fact that my company always renews me at the last minute. But obviously jobs round the corner with final salary schemes don't come up that often !

      What do you reckon ?
      On 450 a day I'd stick to the contract as you're making a mint. Christ if I was offered that much I'd do it for as long as I could stand it.

      It's normal to renew at the last minute. And final salary pensions can be closed down. You're far better off contracting and putting some of the savings aside, either a SIPP or ISAs. I think property is a bit over-valued these days.

      Comment


        #4
        Bit more background,

        Worked at one place for around 7 years, really enjoyed it
        Got made redundant due our parent company bringing our IT in house
        Did another job for a small local company for a while
        But left after a few months after a combination boredom, and being offered
        a fairly lucrative contract by the parent company that made me redundant.

        Permie job offer is for a small division of a very large company and worried that boredom will set in, and I'll jump ship the moment someone
        knocks on my door with a decent contract,

        Can't say the work I'm doing for my current contract is a roller coaster ride of excitement, but the team I work with our a good crack....

        Comment


          #5
          Then it's a no brainer.

          If you think the job you're being offered is going to be too boring, better to stick with the contract you have, however boring that maybe, but which is, ultimately, far more lucrative.

          Think of the money son, think of the money!!!!!

          Comment


            #6
            I have to agree with the old bat, Miss Marples.

            £450 a day * 5 days a week * 48 week year = £108,000
            Tell you what, do six months and have the rest of the year off!

            I hope you're not in finance or a job that requires simple maths?
            'Orwell's 1984 was supposed to be a warning, not an instruction manual'. -
            Nick Pickles, director of Big Brother Watch.

            Comment


              #7
              Thanks for the pointers, have done the maths,

              So financially its a no brainer, ( but its not all abut the money I keep trying to tell myself )

              Am supposed to let them know on monday about the permie job, so I have the weekend to mull it over.

              Comment


                #8
                Ignore the amateur economists. If you've really done the maths (or arithmetic, anyway), £450 a day contract is around £45k a year permie with a decent package. So it's not all that much different

                However, since you get bored easily and have no obvious liking for long term commitments, I'd suggest you stay freelance. Then there's one less disaffected permie confirming to Human Remains that ex-contractors have no place in the real world of permanency... More to the point, you'll keep the flexibility and the challenge.
                Blog? What blog...?

                Comment


                  #9
                  Originally posted by malvolio
                  Ignore the amateur economists. If you've really done the maths (or arithmetic, anyway), £450 a day contract is around £45k a year permie with a decent package. So it's not all that much different
                  [...]
                  Wow. Malvolio has the same point of view as mine, I should definetely deserve a six figures package now. :-)

                  Do you have the same background as me Malvolio (economics, finance, etc.)?

                  p.s. I am trying to think what Malvolio rings a bell for...
                  I've seen much of the rest of the world. It is brutal and cruel and dark, Rome is the light.

                  Comment


                    #10
                    I did four years as a management accountant before seeing the light, and was half way through ACCA, so I can count a little bit. However, I've also been kicking around a long ime, so I've had lots of time to practice...

                    But I'm not giving hints on Malvolio - nor even my sig...
                    Blog? What blog...?

                    Comment

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