Going on my own

Author
Discussion

puggit

Original Poster:

48,553 posts

250 months

Wednesday 12th November 2003
quotequote all
Not quite as dramatic as 'all change' - but as I keep being offered contracting roles, and it is accepted in the IT industry that contracting is up while permanent is steady - should I just jump ship and go contracting?!

Plotloss

67,280 posts

272 months

Wednesday 12th November 2003
quotequote all
Depends on the length of the contract I suppose and the chance of renewals.

The IT market is picking up and if you have good contractable skills and are a willing proper contracter (sharing of information, there to do a job etc) then I see no reason why not if the contract is say 12 months with a 80% chance of extension.

The downside is that if its just a 3 month then if there isnt a ready supply of contracts you may be out in the cold...

RichardD

3,562 posts

247 months

Wednesday 12th November 2003
quotequote all
Do you think you are on good money with what you do where you are? Is there any chance of progression? If you are at a dead end or being held back then maybe it's time to explore new avenues?

A good thing about contracting is you will see different places and meet different people - and ultimately who knows where that will lead.

As already mentioned, work out sums with regards to how you would survive when inbetween contracts.

Since having my mortgage under control I sometimes look at websites (generally it.jobserve.co.uk) for contracts (SQL / VB / Access), but it's hard to jump away from something stable.

singlecoil

34,028 posts

248 months

Wednesday 12th November 2003
quotequote all
Employed, doing the type of work that you do, in effect your employers are finding your next piece of work for you, and ensuring that you will continue to be paid whatever the work they find. In exchange for that, and doing all the legal stuff like tax, insurance, NI etc etc, they are keeping the difference between what they pay you and what they are charging for your work.
It's got to be down to how well you think you could do all the above, and what the difference in money is. Most likely the situation is continuously variable.
My inclination would be to go into business for myself, but to be very careful how much I spend so that I could afford to spend some time out of work should that happen

puggit

Original Poster:

48,553 posts

250 months

Wednesday 12th November 2003
quotequote all
I am on good money (around £30k for 2nd line role at one of world's biggest software companies) - but I am being held back and I honestly think my mental state is beginning to suffer.

Gf also works in IT and is willing to support me while I start out.

Ideally I'd like to end up where Richard is - but haven't ever got around to starting out on that route!

samn01

874 posts

270 months

Wednesday 12th November 2003
quotequote all
Lets get one thing straight.
Contracting is not up!
I have worked in Contract IT recruitment for 6 years and the last two have been as bad as they possibly could be.
The perm side is picking up slowley but the contract side is very very very slow right now.

If you have a job - keep it. IMHO

Sam

RichardD

3,562 posts

247 months

Wednesday 12th November 2003
quotequote all
puggit said:
I am on good money (around £30k for 2nd line role at one of world's biggest software companies) - but I am being held back and I honestly think my mental state is beginning to suffer.

Gf also works in IT and is willing to support me while I start out.

Ideally I'd like to end up where Richard is - but haven't ever got around to starting out on that route!




Being with computers all day can err "boggle the brain" a bit ! !. Must be why I am spending a bit of time on PH in order to get some human interaction.

Unfortunately (for me) there isn't much going on in IT around my area (East Yorks). I assume you are somewhere "doon sooth"? In which case there should hopefully be opportunities for you without too much disruption to your normal life (accomodation / travel wise).

Don't know if I'm allowed to say this sort of thing, but on your travels if you find someone who wants a complex bespoke database - track me down (commission / beer / optimax available as a thank you). I had a friend who was a useful supply of extra work, but he's moved from Leeds to US (to get a cheap house, ahem). I'm after more gold tokens in the piggy bank marked "TVR".

Plotloss

67,280 posts

272 months

Wednesday 12th November 2003
quotequote all
Sam, as a complete aside to this thread (sorry) can you recommend a good indemnity insurer for recruiters?

'Er indoors is currently setting up as an agent and she is having horrid trouble getting a quote.

puggit

Original Poster:

48,553 posts

250 months

Wednesday 12th November 2003
quotequote all
samn01 said:
Lets get one thing straight.
Contracting is not up!
I have worked in Contract IT recruitment for 6 years and the last two have been as bad as they possibly could be.
The perm side is picking up slowley but the contract side is very very very slow right now.

If you have a job - keep it. IMHO

Sam
Sam - for sure the last 2/3 years have not been a pleasant experience for most in IT.

I read a report in the Evening Standard that in London contracting grew by 4% and permanent stayed level in the last quarter.

I'm not going to sit here and pretend that the golden times are back - but its a hell of an improvement!

Richard - you're right, I'm in Reading and live near the station - so the IT hotspots of London and M4 corridor are but a short journey (distancewise, trains and traffic jams see to the time!)

jasper gilder

2,166 posts

275 months

Friday 14th November 2003
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Are you aware of the Inland Revenue IR35 rules that state that if you are contracting to one business only you can't be self employed and will be treated for tax purposes as employed. All of a sudden many of the financial benefits of working for yourself evaporate..

suffolkfox

458 posts

255 months

Friday 14th November 2003
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Plotloss, so as not to hijack the thread, email me off-line, as I may be able to point you in the right direction (I have to place various PI stuff regularly)
SF

eric mc

122,332 posts

267 months

Friday 14th November 2003
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That is not what IR35 says. IR35 only applies to those who operate through their own Limited Company or partnership. It does not apply to those who call themselves Self Employed.

Check out the Inland Revenue's own web-site for an accurate description of how IR35 works.

samn01

874 posts

270 months

Saturday 15th November 2003
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Plotloss You have mail

Puggit A 4% increase from almost nothing is very little to shout about. Do not believe the hype.

As I said if you have a job keep it and be lucky !