Day rate translated into perm salary

[portseven]

i just put my average net take home into salary calculator and that gives me my permie cash price....

there are other factors though as to why we go contracting

[SlipTheJab]

Those variables are a right bugger, aren't they...

Exactly, apples and oranges, I may take a low rate gig if it gets me a skill set I need to unlock a higher rate gig but may not to take the same perm role at 25k a yr, thats why you cant really compare perm and contract roles with the same criteria...

[MyUserName]

If earning £375 p/d any idea what that approximately translates into on a perm salary? I know there's no hard and fast calculation but keen to get an idea

It doesn't. There are so many variables which change from person to person, time to time, location to location, career to career, gig to gig etc.

Are you getting enough money to support your life style? If so then you are good.

[LondonManc]

Don't bother. Think about location, training, current bills, how much time you have off and so on. Do you bill 30 or 44 weeks per year? Do you live in Hulll or Hounslow? (My condolences in either case.) There is too much to consider that a simple rate v salary formula can cover.

[kaiser78]

Very approx. calculation from contractor rate to salary is (day rate/hrs per day)*800.

[m0n1k3r]

Very approx. calculation from contractor rate to salary is (day rate/hrs per day)*800.

That correlates with recommendations form the Institute of Interim Management, which state that the suggested day rate is 1% of the equivalent perm salary + bonus + benefits for the same role. An interim manager for a role that would normally have a package worth £100k would then charge £1,000 a day, which is about right.

http://iim.org.uk/wp-content/uploads...-day-rates.pdf

[malvolio]

That correlates with recommendations form the Institute of Interim Management, which state that the suggested day rate is 1% of the equivalent perm salary + bonus + benefits for the same role. An interim manager for a role that would normally have a package worth £100k would then charge £1,000 a day, which is about right.

http://iim.org.uk/wp-content/uploads...-day-rates.pdf

You mean, what I've been saying for the years since the question was first asked on here is actually right?Who'd a thought it...

[oracleslave]

You mean, what I've been saying for the years since the question was first asked on here is actually right?Who'd a thought it...

I don't have a better measure for it, however this has not been my experience.

I've had 3 permie roles paying in excess of 100k basic.

Never managed to get my contract rate above £750 plus expenses.

[malvolio]

I don't have a better measure for it, however this has not been my experience.

I've had 3 permie roles paying in excess of 100k basic.

Never managed to get my contract rate above £750 plus expenses.

That's the problem with approximations; there's always some hero trying to prove them wrong by quoting a specific example.

It doesn't matter, it's only a rough guess.

[munkee]

Happy to be called thick here. But the context of the document shown is around cost to the employer. I have made the assumption (maybe incorrectly) when reading through the original post that the author wants to essentially know what rate they need to equate to the same take home pay of a permie.

Whilst the calculations would be difficult and there's lots of variables involved I doubt a 40k permie walks home with the equivalent of a £400/day contractor. Maybe the cost to the client is the same, but not for the contractor. However based on the interpretation of everyone else, I would say the 1% seems close enough.