Chucked in a £420 a day Contract for 60k perm job. Am I mad?? Chucked in a £420 a day Contract for 60k perm job. Am I mad??
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  1. #1

    Nervous Newbie

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    Default Chucked in a £420 a day Contract for 60k perm job. Am I mad??

    Hi all,

    First time contracting, new this site so I'm sure this subject has been beaten to death, but I'd like some of your thoughts. I’m not sure If I’ve made the right call and slightly regretting it!

    so currently on £420 day (9 to 6pm) working for an asset manager working on BAU production of Fund Reports/Fund Factsheets and migrating the production to a new provider (which is doing all the heavy lifting btw). Been doing this role for about 6 months and in all honesty, I'd probably get another year or more out of it, However not really enjoying the culture, people and I'm sitting here not doing much most days. I'm pulling in a great pay packet, which I never dreamt of earning.

    So then I've just gone and jacked it in for a perm role for another Asset manager, much the same stuff, but with people I’ve worked with before and enjoy, but now slightly regretting it as I feel like I’m throwing away an opportunity to make some real money for a year or so. Spec of perm role below.

    • 60k basic
    • 10.5% pension
    • 18/20% Bonus
    • 25 days holidays
    • £300 a month share scheme if I pay in £150
    • Usual Medical and Dental
    • Free canteen, apparently v good food. (Breakfast and Lunch provided)
    • work from home one day a week when it’s not Quarter end
    • 9 to 5pm

    Am I mad? Finically would I have been that much better off in the contract?
    Last edited by RStrongbolt; 30th April 2018 at 16:47.

  2. #2

    Double Godlike!

    stek - scorchio!

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    Yes

  3. #3

    Some things in Moderation

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    No.

    It will depend on what is important to you regarding benefits vs costs.

    No-one can really answer that except you.
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    Godlike

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    To make sure we've covered all possible outcomes, partly yes and partly no.

  5. #5

    Contractor Among Contractors

    Dark Black is NOT a disguised employee

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    If it's as good as it sounds.. No.

    Decent enough salary, factor in all the benefits and the fact that you've worked with the people before and know they are decent. Go for it.

    If it does turn out to be not as good as you expect you can always jump back to contracting later on.
    Last edited by Dark Black; 30th April 2018 at 16:41.
    Do what thou wilt

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    northernladuk is always on top

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    If you enjoy the new job then you've done the right thing. It's not alway about the money.

    If it is then console yourself with the fact the contractor gig could have ended tomorrow and much time could have followed. Working in BAU can be an IR35 problem but you don't have to worry anymore.
    'CUK forum personality of 2011 - Winner - Yes really!!!!

  7. #7

    More fingers than teeth

    greenlake has reached the peak. Play again?

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    Quote Originally Posted by RStrongbolt View Post
    Am I mad? Finically would I have been that much better off in the contract?
    If you're prepared to give up contracting as readily as you did, then maybe contracting really isn't for you....


  8. #8

    Richer than sasguru

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    Chucked in a £420 a day Contract for 60k perm job. Am I mad??
    When you get your payslip and see all the NI and income tax deductions you'll realise your on the equivalent rate of about £200 / day.

    So yes, bonkers.
    I have left CUK...please do not expect any replies to threads or PMs...

  9. #9

    More fingers than teeth

    scooterscot is a fount of knowledge

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    Buy bitcoin if you want to make real money.
    “We've always defined ourselves by the ability to overcome the impossible. And we count these moments. These moments when we dare to aim higher, to break barriers, to reach for the stars, to make the unknown known. We count these moments as our proudest achievements. But we lost all that. Or perhaps we've just forgotten that we are still pioneers. And we've barely begun. And that our greatest accomplishments cannot be behind us, because our destiny lies above us.”

  10. #10

    Old Greg is my bitch's bitch

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    If you are in IR35 you are doing a reasonable thing. It doesn't take too many gaps between contracts to eat into your annual income.
    Where there's muck there's brass.

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