Contractors, Self Employed nice cars? You earn far too much!
Discussion
Last year, while attending a planning meeting at the head office in Germany, the Finance Officer mentioned that I have a very nice MB CLS parked outside.
"Yes", I said, "Its 6 years old and was cheaper than all those Polo's and Lupo's in the car park.
The planning meeting was about how I, a contractor and the only one willing to do the job, could best support both the North American and Indian Offices at the same time.
And yes, I sit on long hall flights watching whatever on the TV, feeling knackered but its amazing how 50p....50p....50p can raise your spirits and a smile.
Just had my Tuscan resprayed which will wind one or two up when I drive over in it in August
PS:- The Finance Officer got made redundant.
"Yes", I said, "Its 6 years old and was cheaper than all those Polo's and Lupo's in the car park.
The planning meeting was about how I, a contractor and the only one willing to do the job, could best support both the North American and Indian Offices at the same time.
And yes, I sit on long hall flights watching whatever on the TV, feeling knackered but its amazing how 50p....50p....50p can raise your spirits and a smile.
Just had my Tuscan resprayed which will wind one or two up when I drive over in it in August
PS:- The Finance Officer got made redundant.
Limpet said:
Similar to me (currently a pre-sales Solution Architect working for a global tech company). Bored, and wondering what the next move is, as I'm really struggling to get excited about doing more of the same for someone different for the next 25 years.
A mate contracted in web development for about 10 years and did quite nicely out of it, but has just gone perm after getting a decent offer.
It's not the risk that bothers me at all. No permanent job has any security nowadays. It's the lack of holidays, pension etc and having the discipline to do the right thing with the extra money. Logic suggests whack it off the mortgage rather than buy a nice car. But I'm rubbish and it wouldn't happen
I contracted as a software developer for 7 years from 1993 to 2000 through the dot com years. It was amazing time, I had more money than I knew what do with and at that time I was getting offered jobs over a single telephone interview. Then the bubble burst and I went perm. At the time the money and ease of work attracted a lot of numpties so the market suddenly became flooded with idiots. A really tough time to find decent work of any kind. A mate contracted in web development for about 10 years and did quite nicely out of it, but has just gone perm after getting a decent offer.
It's not the risk that bothers me at all. No permanent job has any security nowadays. It's the lack of holidays, pension etc and having the discipline to do the right thing with the extra money. Logic suggests whack it off the mortgage rather than buy a nice car. But I'm rubbish and it wouldn't happen
It took a little while but within a couple of years my earnings overtook what I was earning as a contractor and I had all the other benefits that come with being a permie. I'm now a powerfully built director with a well known brand and doing rather well. It's not for everyone but in the long term you get so much more from investing in your career and climbing the slimy pole. Yes it takes effort but as a contractor, your prospects are limited as you are hired help and the first to go as the business restructures, which they do every 2 to 3 years.
This is very different to being a consultant where you are being paid very well to do a specific job that very few other people can do.
wormus said:
Limpet said:
Similar to me (currently a pre-sales Solution Architect working for a global tech company). Bored, and wondering what the next move is, as I'm really struggling to get excited about doing more of the same for someone different for the next 25 years.
A mate contracted in web development for about 10 years and did quite nicely out of it, but has just gone perm after getting a decent offer.
It's not the risk that bothers me at all. No permanent job has any security nowadays. It's the lack of holidays, pension etc and having the discipline to do the right thing with the extra money. Logic suggests whack it off the mortgage rather than buy a nice car. But I'm rubbish and it wouldn't happen
I contracted as a software developer for 7 years from 1993 to 2000 through the dot com years. It was amazing time, I had more money than I knew what do with and at that time I was getting offered jobs over a single telephone interview. Then the bubble burst and I went perm. At the time the money and ease of work attracted a lot of numpties so the market suddenly became flooded with idiots. A really tough time to find decent work of any kind. A mate contracted in web development for about 10 years and did quite nicely out of it, but has just gone perm after getting a decent offer.
It's not the risk that bothers me at all. No permanent job has any security nowadays. It's the lack of holidays, pension etc and having the discipline to do the right thing with the extra money. Logic suggests whack it off the mortgage rather than buy a nice car. But I'm rubbish and it wouldn't happen
It took a little while but within a couple of years my earnings overtook what I was earning as a contractor and I had all the other benefits that come with being a permie. I'm now a powerfully built director with a well known brand and doing rather well. It's not for everyone but in the long term you get so much more from investing in your career and climbing the slimy pole. Yes it takes effort but as a contractor, your prospects are limited as you are hired help and the first to go as the business restructures, which they do every 2 to 3 years.
This is very different to being a consultant where you are being paid very well to do a specific job that very few other people can do.
I agree - it completely depends what you want. I worked as a permie for 5 years and have been a contractor for the last 9 years. I'll only go back to being a permie if the market dries up and I have to (or the salary balance changes). I made a decision in those 5 years as a permie that I stand by now: a career ladder doesn't interest me and the effort vs total lifetime earnings isn't worth it. As you might guess from that, I'm not working in an area that I have much interest in at all (IT), and I merely want to do what I do now to a high standard, deliver a bit more than what's expected and get paid what I do now, which is enough for my mortgage and bills as well as holidays and fun stuff. To embark on a successful career requires committment and a certain satisfaction and enjoyment from what you do. I could have that in a couple of areas of work, but I've worked in those areas and they don't bring in the money that I want to enjoy my life, so overall I wasn't as happy, as secure and as satisfied as I am now.JapFreak786 said:
Quite alot of IT contract folks here then, including myself. Though seems like alot of you are more technical based while I am in service management.
Never had those comments myself or to any other contractors that I know off
I'm also a service management / outsourcing contractor and like you haven't experienced any of this. Clearly need to upgrade the cars.Never had those comments myself or to any other contractors that I know off
Leins said:
Best pieces of advice I was given before going into IT contracting:
- no flash watches
- no flash cars
- only spend 110% of your previous' yearly outgoings in your first year
- stay off your mobile
This all the way.- no flash watches
- no flash cars
- only spend 110% of your previous' yearly outgoings in your first year
- stay off your mobile
This is my 2nd stint as a contractor, having hidden as a permie during the recession. I'm still spending roughly the same as when permie and putting all the extra money to one side for rainy days, last month (a 5 week one
) I saved more than I had earned a month as a permie.
will sure try that one next time 
I get this non stop and it annoys me no end. I've been contracting in the same place for some time now, and in that time I've had a few cars - usually old and crap, my first being a Saab 9-3 convertible that cost 900 quid.
I think it's worse for me because I'm only 23 and the older permys hate that I can buy stuff when they can't because of kids, mortgage etc.... In reality with holidays and sick pay, they don't earn much less than myself. Being a f1 team you can imagine there are plenty of nice cars in the car park - when I got my 57 plate Alfa I was given no end of the old 'they must be paying you too much' yes of course, my 6k Alfa is very lavish compared to your 25k golf!!
Smile and keep taking the money!
I think it's worse for me because I'm only 23 and the older permys hate that I can buy stuff when they can't because of kids, mortgage etc.... In reality with holidays and sick pay, they don't earn much less than myself. Being a f1 team you can imagine there are plenty of nice cars in the car park - when I got my 57 plate Alfa I was given no end of the old 'they must be paying you too much' yes of course, my 6k Alfa is very lavish compared to your 25k golf!!
Smile and keep taking the money!
Ghost91 said:
I think it's worse for me because I'm only 23 and the older permys hate that I can buy stuff when they can't because of kids.....
This is the biggie for me. I don't have kids and my car costs between £2000-£3000 a year in tax, insurance, MOT and servicing.According to some estimates, a child can cost a lot more than this (around £3500-£4000 per year by some estimates) and many people have two or three kids. Throw a couple of family cars into the mix that may still cost £1000-£1500 each to run and the costs rack up even further.
A family with three kids and two family cars could be spending around £12,000 a year on their particular "lifestyle choice" - over 4 times what I spend on mine!
Moonhawk said:
This is the biggie for me. I don't have kids and my car costs between £2000-£3000 a year in tax, insurance, MOT and servicing.
According to some estimates, a child can cost a lot more than this (around £3500-£4000 per year by some estimates) and many people have two or three kids. Throw a couple of family cars into the mix that may still cost £1000-£1500 each to run and the costs rack up even further.
A family with three kids and two family cars could be spending around £12,000 a year on their particular "lifestyle choice" - over 4 times what I spend on mine!
Show me where you can get this 'child' thing you talk about for £3500 - £4000 per year , and I will p/ex my current one in for this economy model you talk aboutAccording to some estimates, a child can cost a lot more than this (around £3500-£4000 per year by some estimates) and many people have two or three kids. Throw a couple of family cars into the mix that may still cost £1000-£1500 each to run and the costs rack up even further.
A family with three kids and two family cars could be spending around £12,000 a year on their particular "lifestyle choice" - over 4 times what I spend on mine!
Moonhawk said:
This is the biggie for me. I don't have kids and my car costs between £2000-£3000 a year in tax, insurance, MOT and servicing.
According to some estimates, a child can cost a lot more than this (around £3500-£4000 per year by some estimates) and many people have two or three kids. Throw a couple of family cars into the mix that may still cost £1000-£1500 each to run and the costs rack up even further.
A family with three kids and two family cars could be spending around £12,000 a year on their particular "lifestyle choice" - over 4 times what I spend on mine!
Hit the nail on the head there... There's no explaining this to some people though! And some seem to forget that having kids is just that, a choice, just like my many cars According to some estimates, a child can cost a lot more than this (around £3500-£4000 per year by some estimates) and many people have two or three kids. Throw a couple of family cars into the mix that may still cost £1000-£1500 each to run and the costs rack up even further.
A family with three kids and two family cars could be spending around £12,000 a year on their particular "lifestyle choice" - over 4 times what I spend on mine!
Moonhawk said:
2ono said:
Show me where you can get this 'child' thing you talk about for £3500 - £4000 per year , and I will p/ex my current one in for this economy model you talk about
I did say "by some estimates" Gassing Station | General Gassing | Top of Page | What's New | My Stuff