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Contract vs Perm D-Day

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    Contract vs Perm D-Day

    Hi,

    Interested in getting people's thoughts on the little dilemma I find myself in.

    Currently on £500 PD (outside of IR35) with the contract running until end of March this year. Its very likely this will get extended by another 3 months and may go on for the duration of this year although not guaranteed of course.

    I was approached for a very good perm job, close to home, after several interviews I secured the position, its a perm job on £75K with a 20-25% bonus on top each year.

    I now am having second thoughts do I stick (stay contracting) or twist (go to the perm role) with all the perks that come with it? What would you do?

    Interested in getting opinions.

    Ta..

    #2
    For me its a no-brainer, take the permie job.

    But let's say you actually want to stay a contractor - read this thread to understand your outside IR35 position.

    https://www.contractoruk.com/forums/...ould-i-go.html

    Because you will probably need to use an Umbrella from April.
    "I can put any old tat in my sig, put quotes around it and attribute to someone of whom I've heard, to make it sound true."
    - Voltaire/Benjamin Franklin/Anne Frank...

    Comment


      #3
      I think it's a great time to go permie, because I'm going permie too

      I didn't have a single day off in 2020. I won't know what to do with 25 days paid leave!

      Comment


        #4
        Would you regret going Perm, if IR35 changes doesn't happen in Apr'2021? If so, wait until March to get a clear picture. Until then continue with your contract. If and when the changes really happen in April, negotiate and drop your rate by a % to stay outside. You will still be profitable even with that % rate drop compared to being a Perm.
        Last edited by BigDataPro; 19 January 2021, 09:29.

        Comment


          #5
          Originally posted by BigDataPro View Post
          Would you regret going Perm, if IR35 changes doesn't happen in Apr'2021? If so, wait until March to get a clear picture.
          The IR35 changes are going to take effect and that isn't part of the OP's question anyway.
          merely at clientco for the entertainment

          Comment


            #6
            I went perm due to Covid and regretted it. There is way more to the equation than just money.

            Comment


              #7
              Could you survive on so little income per month ?

              Take the permie role and continue your contract at same time - double bubble


              Sent from my iPhone using Contractor UK Forum

              Comment


                #8
                Originally posted by Redbull2021 View Post
                Hi,

                Interested in getting people's thoughts on the little dilemma I find myself in.

                Currently on £500 PD (outside of IR35) with the contract running until end of March this year. Its very likely this will get extended by another 3 months and may go on for the duration of this year although not guaranteed of course.

                I was approached for a very good perm job, close to home, after several interviews I secured the position, its a perm job on £75K with a 20-25% bonus on top each year.

                I now am having second thoughts do I stick (stay contracting) or twist (go to the perm role) with all the perks that come with it? What would you do?

                Interested in getting opinions.

                Ta..
                What perm perks make up £60K of lost income?

                Imagine what you do now, then imagine doing same role for 1/2 money and monthly reviews and office politics and expected to work all hours for free

                Then imagine that client hiring contractors to do what you do on double your rate

                Then watch company get rid off you in a blink on an eye




                Sent from my iPhone using Contractor UK Forum

                Comment


                  #9
                  Originally posted by Redbull2021 View Post
                  Hi,

                  Interested in getting people's thoughts on the little dilemma I find myself in.

                  Currently on £500 PD (outside of IR35) with the contract running until end of March this year. Its very likely this will get extended by another 3 months and may go on for the duration of this year although not guaranteed of course.

                  I was approached for a very good perm job, close to home, after several interviews I secured the position, its a perm job on £75K with a 20-25% bonus on top each year.

                  I now am having second thoughts do I stick (stay contracting) or twist (go to the perm role) with all the perks that come with it? What would you do?

                  Interested in getting opinions.

                  Ta..
                  I should add the permie role has pretty much a guaranteed bonus which accumulates to another £15k ish on top of the £75k but still a massive drop compared to the £500 PD rate. Other perks of the permie role are 28 days holiday, pension, private health care and the usual suspects (buy/sell leave and all that stuff)

                  Comment


                    #10
                    You might be in a sector shielded from it but in the current climate I wouldn't be staking my financial future on receiving a bonus.

                    Comment

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