We started discussing this on the State of Market thread, but it was really off topic.
It started by me saying i cant really afford to go perm even if offered a 100K base salary
My living expenses are 5K per month. That seems high, but i have a family of 5 to support and the figure includes a 2K mortgage payment.
As a contractor outside IR35 I can comfortably clear 5K and have a few grand a month left over to save (or waste)
I also work hard, much harder than the average contractors i see around me, so i tend to get extended more often than not.
As a perm on 100K base (assuming i can get that) i would net about £5500 per month, inside IR35 on my current rate i would net about the same as that as well, assuming i took the same number of days off as a Permie does. Although I probably couldn't afford to take many days off if all i could find was inside IR35.
Thats only £500 to spare, not much head room.
I think it was SueEllen suggested extending mortgage terms and so reducing the monthly payment, that might be an option if i am forced to go perm, although my mortgage only has six years to run.
It started by me saying i cant really afford to go perm even if offered a 100K base salary
My living expenses are 5K per month. That seems high, but i have a family of 5 to support and the figure includes a 2K mortgage payment.
As a contractor outside IR35 I can comfortably clear 5K and have a few grand a month left over to save (or waste)
I also work hard, much harder than the average contractors i see around me, so i tend to get extended more often than not.
As a perm on 100K base (assuming i can get that) i would net about £5500 per month, inside IR35 on my current rate i would net about the same as that as well, assuming i took the same number of days off as a Permie does. Although I probably couldn't afford to take many days off if all i could find was inside IR35.
Thats only £500 to spare, not much head room.
I think it was SueEllen suggested extending mortgage terms and so reducing the monthly payment, that might be an option if i am forced to go perm, although my mortgage only has six years to run.
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