JP Morgan show their hand JP Morgan show their hand - Page 2
Page 2 of 2 FirstFirst 12
Posts 11 to 17 of 17
  1. #11

    Nervous Newbie


    Join Date
    Nov 2019
    Posts
    10

    Default

    Quote Originally Posted by JohntheBike View Post
    what I mean is are they being offered PAYE salaries at the same level or higher than their contracting rates?
    You already know the answer to this.

    For the vast majority, financials pulling contractors into Umbrellas will offer rates that equate to a little or reasonable level higher than perm. If you shop around for perm at financials you'll get near or match it, then with permie perks you'll surpass it.

    Unless the rates increase contractors will be taking umbrella based contracts at financials on the understanding that they WILL be offered a permie job at the end of it.

    This applies for permie-tractors who are savy enough to read the wall writing, as well as genuine contractors who although love the non financial benefits of contracting, ultimately, don't want to be taken for a ride.

  2. #12

    bored now

    eek's Avatar
    Join Date
    Jun 2010
    Location
    😂
    Posts
    22,906

    Default

    Quote Originally Posted by PCTNN View Post
    Which means permies will soon ask for pay upgrade to bring it to ex contractors level, because why shouldn't they?

    Nothing good is going to come from this.
    That comes later - in a lot of firms its just a matter of finding a person doing a vaguely similar role who hits enough of the equal opportunity requirements.
    merely at clientco for the entertainment

  3. #13

    Contractor Among Contractors


    Join Date
    Nov 2018
    Posts
    1,353

    Default

    Quote Originally Posted by LetterBox View Post
    You already know the answer to this.

    For the vast majority, financials pulling contractors into Umbrellas will offer rates that equate to a little or reasonable level higher than perm. If you shop around for perm at financials you'll get near or match it, then with permie perks you'll surpass it.

    Unless the rates increase contractors will be taking umbrella based contracts at financials on the understanding that they WILL be offered a permie job at the end of it.

    This applies for permie-tractors who are savy enough to read the wall writing, as well as genuine contractors who although love the non financial benefits of contracting, ultimately, don't want to be taken for a ride.
    You already know the answer to this
    partially perhaps. However, although I know the permie pay scales of my end client, I don't know the same for the software house. Clearly there is an issue of who will be responsible for the SDS, assuming this will be done, but what I find interesting is that the nearest client role that I can equate to pays a minimum salary higher than I receive as a contractor. Granted, I'm effectively paid part time, but the arithmetic is by no means clear at the moment. I'll just have to wait and see what's offered and decide my course of action then.
    Last edited by JohntheBike; 2nd December 2019 at 16:44.

  4. #14

    Double Godlike!


    Join Date
    Sep 2014
    Location
    Work-life balance nirvana
    Posts
    10,192

    Default

    Quote Originally Posted by JohntheBike View Post
    partially perhaps. However, although I know the permie pay scales of my end client, I don't know the same for the software house. Clearly there is an issue of who will be responsible for the SDS, assuming this will be done, but what I find interesting is that the nearest client role that I can equate to pays a minimum salary higher than I receive as a contractor. Granted, I'm effectively paid part time, but the arithmetic is by no means clear at the moment. I'll just have to wait and see what's offered and decide my course of action then.
    Might be worth hanging on in there and riding the storm out - better to be in a less than perfect role all year than waiting ten months for a perfect one.
    The greatest trick the devil ever pulled was convincing the world that he didn't exist

  5. #15

    Contractor Among Contractors


    Join Date
    Nov 2018
    Posts
    1,353

    Default

    Quote Originally Posted by LondonManc View Post
    Might be worth hanging on in there and riding the storm out - better to be in a less than perfect role all year than waiting ten months for a perfect one.
    yes, and given that a senior manager of the end client has declared that I must stay until all the applications that I support are finally decommissioned, then clearly I will have some work horizon. I've posted before that because of my personal circumstances, I wouldn't be as seriously affected by going PAYE as most would. The software house that MyCo is contracted to is engaging with QDOS over the issues and I guess I'll hear soon what the proposals are.

  6. #16

    Double Godlike!


    Join Date
    Sep 2014
    Location
    Work-life balance nirvana
    Posts
    10,192

    Default

    Quote Originally Posted by JohntheBike View Post
    yes, and given that a senior manager of the end client has declared that I must stay until all the applications that I support are finally decommissioned, then clearly I will have some work horizon. I've posted before that because of my personal circumstances, I wouldn't be as seriously affected by going PAYE as most would. The software house that MyCo is contracted to is engaging with QDOS over the issues and I guess I'll hear soon what the proposals are.
    You're inside IR35 - his statement makes you part and parcel. However, an increase in day rate as compensation would seem fair.
    The greatest trick the devil ever pulled was convincing the world that he didn't exist

  7. #17

    Contractor Among Contractors


    Join Date
    Nov 2018
    Posts
    1,353

    Default

    Quote Originally Posted by LondonManc View Post
    You're inside IR35 - his statement makes you part and parcel. However, an increase in day rate as compensation would seem fair.
    Abbey Tax's assessment of the working practices disagrees. Their assessment is that the contract is outside of IR35.

    However, what is interesting is that all the communications are coming from the software house and not the end client. I guess this may be incorrect.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •