Permanent vs Contract work
Discussion
I've been a contractor in the UK for a long time. Infact I've never had a permanent job in the UK at all and I have my own VAT registered company. I have worked in the oil/gas sector, but that is down the toilet at them moment (see my other thread about moving to Holland).
Anyway an interesting job in a different sector may have come up in London. I've already had an interview and I think they may be going to offer it to me.
I'm completely unfamiliar with the benefits other than the straight salary and paid leave which come with permanent jobs, online searches only give vague answers. So.. Other than salary and paid leave, what other benefits are there for permanent positions?
The place who may offer me a job is also a small operation in the UK, though they have many offices in the United States. Since the UK operation is quite small, I'm thinking there may be possibility to go there as a long term day rate contractor, which could be organised in a way such that it does not cost the company any additional money, but would give me the tax-efficient benefits of being a contractor. Any ideas?
Anyway an interesting job in a different sector may have come up in London. I've already had an interview and I think they may be going to offer it to me.
I'm completely unfamiliar with the benefits other than the straight salary and paid leave which come with permanent jobs, online searches only give vague answers. So.. Other than salary and paid leave, what other benefits are there for permanent positions?
The place who may offer me a job is also a small operation in the UK, though they have many offices in the United States. Since the UK operation is quite small, I'm thinking there may be possibility to go there as a long term day rate contractor, which could be organised in a way such that it does not cost the company any additional money, but would give me the tax-efficient benefits of being a contractor. Any ideas?
Edited by creampuff on Tuesday 3rd November 17:00
Other perm benefits:
- Bonus (maybe)
- Pension (exact % depends on the company)
- Sick leave
- Health insurance
- Maternity/paternity leave
But offset by:
- Appraisals
- Office politics
I've been perm for 4 years and now contracting for 4 years. Would never consider going back to perm, cash in hand trumps all other benefits!!
- Bonus (maybe)
- Pension (exact % depends on the company)
- Sick leave
- Health insurance
- Maternity/paternity leave
But offset by:
- Appraisals
- Office politics
I've been perm for 4 years and now contracting for 4 years. Would never consider going back to perm, cash in hand trumps all other benefits!!
I've been contracting for 3 years now.
I hear my contracting co workers say all the time how they'll never go back to permanent work, and I have to admit, that's how I'm feeling.
Less money, if it's salaried then overtime is unpaid - not a problem in some industries but in mine overtime in winter is customary, and not a massive amount more job security really - not enough to warrant the pay cut and tax hit anyway.
I don't particularly like having to be disciplined and put my tax and VAT aside, and the minor inconvenience of sorting tax etc but it's worth it.
I hear my contracting co workers say all the time how they'll never go back to permanent work, and I have to admit, that's how I'm feeling.
Less money, if it's salaried then overtime is unpaid - not a problem in some industries but in mine overtime in winter is customary, and not a massive amount more job security really - not enough to warrant the pay cut and tax hit anyway.
I don't particularly like having to be disciplined and put my tax and VAT aside, and the minor inconvenience of sorting tax etc but it's worth it.
I was contracting up until a month ago. I'd been let go in March but managed to get something else short term.
In the boom times, contracting is great. In the down turn you're one of the first out the door. My staff wage is dismal but it's a wage.
Take what you can get at the moment, stick it out and in the future when times are good you can move back into it.
In the boom times, contracting is great. In the down turn you're one of the first out the door. My staff wage is dismal but it's a wage.
Take what you can get at the moment, stick it out and in the future when times are good you can move back into it.
Holidays
Sick Pay
Company Contribution Pension
Private Health Care (Dental plan / Spouse and Family care)
Housing Allowance
Possibility of Promotion - Salary increase
Bonus
Job Security
If a MNC then possibility to move between countries with financial support
Education / training benefits (professional qualifications, higher education) all paid for.
Relocation package (Where applicable)
Potential to move and change job role / function. I.E. a head of operations could move to HR, or finance to procurement with no experience nor pay cut, something you cannot do in the contractor world.
I wouldn't consider contracting, in Germany, at least in our company, contractors earn less than full time (around 60%) as contractors are graded at the engineer levels o you only need a couple of promotions and you far exceed a contractor wage.
Sick Pay
Company Contribution Pension
Private Health Care (Dental plan / Spouse and Family care)
Housing Allowance
Possibility of Promotion - Salary increase
Bonus
Job Security
If a MNC then possibility to move between countries with financial support
Education / training benefits (professional qualifications, higher education) all paid for.
Relocation package (Where applicable)
Potential to move and change job role / function. I.E. a head of operations could move to HR, or finance to procurement with no experience nor pay cut, something you cannot do in the contractor world.
I wouldn't consider contracting, in Germany, at least in our company, contractors earn less than full time (around 60%) as contractors are graded at the engineer levels o you only need a couple of promotions and you far exceed a contractor wage.
Trexthedinosaur said:
Holidays
Job Security
If a MNC then possibility to move between countries with financial support
Relocation package (Where applicable)
I wouldn't consider contracting, in Germany, at least in our company, contractors earn less than full time (around 60%) as contractors are graded at the engineer levels o you only need a couple of promotions and you far exceed a contractor wage.
Hmm, that's the opposite of the oil/gas industry! In oil/gas you get at least 30% extra on straight salary/rate as a contractor, plus you can arrange your own tax affairs so the take home difference is even bigger. Also I've been working several places where a lot of the permanent staff have been laid off, so there's no job security being permanent. Job Security
If a MNC then possibility to move between countries with financial support
Relocation package (Where applicable)
I wouldn't consider contracting, in Germany, at least in our company, contractors earn less than full time (around 60%) as contractors are graded at the engineer levels o you only need a couple of promotions and you far exceed a contractor wage.
Go permanent for a short term solution. I've heard a whisper that the Chinese are going to be building lots of nuke power station things soon, so I'd be making enquiries with the agencies you know now for upcoming work. Of course, the Oil/Gas business is world wide, so maybe you could de-camp somewhere with no income tax, and warm weather!
creampuff said:
robinessex said:
Go permanent for a short term solution. !
Yeah it looks like I'll be doing this. It is giving me the heebie geebies already. Autopilot said:
creampuff said:
MoelyCrio said:
I take it your pay plus dividends are less than the £50k or whatever it is? What do you do with the rest of the profits? Pension?
I pay it to my wife. That's like a pension 
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