• Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
  • Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!

Fixed term v Rolling Contracts ?

Collapse
X
  •  
  • Filter
  • Time
  • Show
Clear All
new posts

    Fixed term v Rolling Contracts ?

    Whats your view on fixed term contracts as apposed to rolling ones?
    Seen some good 12 month fixed term (local government) contracts, but wanted to know what people think. (pros / cons)


    #2
    FTC - you're a permie with no benefits and out of a job in a year.

    Contract - you're a contractor with no benefits and could be out of a job tomorrow.

    The financials should make up for the difference, though.
    Best Forum Advisor 2014
    Work in the public sector? You can read my FAQ here
    Click here to get 15% off your first year's IPSE membership

    Comment


      #3
      I guess a FTC give you more chance of a better mortgage deal too?

      Comment


        #4
        Originally posted by CloudWalker View Post
        I guess a FTC give you more chance of a better mortgage deal too?
        Totally incorrect. For a start you get paid a hell of a lot less on an FTC, normally pro-rata the permie rate and contractors can get mortgages based on their rate which gives a much better lending rate against looking at your finances. FTC will come to an end unless then employ you so you are much more likely to have gaps that are going to cause issues with an application. FTC are the arse end of absolutely everything. Permie employment but not permanent, and not paid like a contractor. Horrible things.

        You are comparing apples and pears here. FTC is a short term perm gig. Contracting isn't. Completely different animals. Are you sure you don't mean a normal contract with 1 year rather than 1 month rolling for 12 months???? i.e. a fixed duration contract vs a rolling?
        Last edited by northernladuk; 4 March 2015, 10:13.
        'CUK forum personality of 2011 - Winner - Yes really!!!!

        Comment


          #5
          In my experience of FTC's the money has been low so not worth even considering in the first place. The way I can see them being of interest is for you to know you have a years work.

          Comment


            #6
            Originally posted by curtis View Post
            In my experience of FTC's the money has been low so not worth even considering in the first place. The way I can see them being of interest is for you to know you have a years work.
            I've always assumed the worst of people who go for FTC roles eg. they can't get a proper permie job, and won't try real contracting?

            Comment


              #7
              Originally posted by CloudWalker View Post
              Whats your view on fixed term contracts as apposed to rolling ones?
              Seen some good 12 month fixed term (local government) contracts, but wanted to know what people think. (pros / cons)

              Apart from them being totally different aninmals I always avoided FTC. I got quite anoyed with one agent who told me all about this great role only then to reveal it was an FTC. Wasted everyone's time.

              FTC you arent a proper permie and not a contractor. They must appeal to some people although I guess they dont realise the implications.
              I couldn't give two fornicators! Yes, really!

              Comment


                #8
                Hang on, Are you saying a FTC will give you less benefits than a standard rolling contract. e.g Cant clam for Travel / Food / Expenses?
                I'm assuming a FTC will not give you sick pay / holiday pay?

                Comment


                  #9
                  Originally posted by CloudWalker View Post
                  Hang on, Are you saying a FTC will give you less benefits than a standard rolling contract. e.g Cant clam for Travel / Food / Expenses?
                  I'm assuming a FTC will not give you sick pay / holiday pay?
                  An FTC is a contract of employment. It isnt a contract for a limited company.

                  Unless the employer is paying travel, food and other expenses no, you cannot 'claim' these as you have nothing to claim against.

                  Im not aware of any circumstance where you'd use a limited co on an FTC.
                  I couldn't give two fornicators! Yes, really!

                  Comment


                    #10
                    Originally posted by CloudWalker View Post
                    Hang on, Are you saying a FTC will give you less benefits than a standard rolling contract. e.g Cant clam for Travel / Food / Expenses?
                    I'm assuming a FTC will not give you sick pay / holiday pay?
                    FTC is actually not correct. The full title is a Fixed Term Employment Contract.

                    Lots of info on Gov Website about it.

                    https://www.gov.uk/fixed-term-contra...dterm-contract
                    'CUK forum personality of 2011 - Winner - Yes really!!!!

                    Comment

                    Working...
                    X