Becoming a contractor (newbie)

[MrChuckles2]

Hello everyone

I've been reading around (yes, using Search too!) on various threads about my situation, but thought I'd throw it out to the community too!

I'm currently working for a large financial, salary is £70. My last bonus was £15k. However, what I do is pretty niche and on it's way out I believe.

I would like to become an independent consultant. I've been offered one at £350/day....whilst this doesn't sound great, the new technologies I'd learn (cloud) would be really useful and they generally pay around £500/day.

Would I be completely foolish to that £70k salary?

[alreadypacked]

Do you have savings, as you may not save much at £350 pd.
You will only get the £500 pd after a few years experience, will the role last 2 years? if not will you be able to get another role with your lack of experience. Will you have to go back to you pretty niche and on it's way out role at £250 if you don't land something.

Read the threads from people with pretty niche and already out skills. What you are planning is risky, if you are in a position to take the risk ok, if not look for a permi role in cloud, get you experience, then jump.

HTH

[northernladuk]

£70 a day is a bit tulip isn't it. If you want to be a consultant researching the right part of the forum to post in shouldn't have been two hard. Could have gone in one of two places but there was one place you really don't want to post it... which you did.

Where in the country are you earning this £70? In Yorkshire and you are a god, in London you might as well souvenirs on the corner to earn more.

[d000hg]

Um I think he means £70k annual salary.


I disagree you can't get £500pd right off, but that would only be for roles using the niche skills you think are dying out. Short term you might do great but then what... you might be better trying to retrain in your current job or even a new job for a couple of years. Tell them you want exposure to new stuff or you'll want to leave.

[PurpleGorilla]

Doesn't sound like a good deal mate. Maybe ride out for redundancy then contract. Think about acquiring new skills in the interim.

[Antman]

£70 a day is a bit tulip isn't it. If you want to be a consultant researching the right part of the forum to post in shouldn't have been two hard. Could have gone in one of two places but there was one place you really don't want to post it... which you did.

Where in the country are you earning this £70? In Yorkshire and you are a god, in London you might as well souvenirs on the corner to earn more.

I think someone's been watching too much life of brian.

[MyUserName]

What is it you do and why do you think it is on the way out? Also, where are you based and where are you prepared to work?

If I were you I would ride the 70k perm job until they make you redundant and then use the redundancy as a war chest for contracting.

However, you might be in a different situation to me. Do you have children/a house/debts/a coke habit etc?

I got 500pd on my first contract, I was verbally offered one for 650pd but someone else suddenly jumped in between the verbal offer and the contract delivery so I lost it

[TheFaQQer]

Get skilled up in other things while you earn your £70. Simple.

[Old Greg]

Get skilled up in other things while you earn your £70. Simple.

WHS