Freelancing as a long term option
Discussion
Hi All,
Just looking for your thoughts.
I work as Quantity Surveyor/Estimator.
Recently I've looked at going freelance, which will benefit my greatly short-term financially.
I've spoken to a few people and there is work out there - just holding off until I've been on my summer hols before taking the final jump and handing my notice in.
However, spoke with an agency yesterday who advised me that my thoughts were very short-term. I think the phrase used was along the lines that i'd benefit now but wouldn't progress in the future as you don't effectively get promoted as a freelancer.
Is this the biased view of something trying to keep me in the permanent market?
I appreciate there is no promotion as such but is it not that with my experience and age increasing that so will my day rates, plus with the way the market's rates naturally increase? I believe that even with 6 months behind me I might be able to add another £20 per day, over a year this being an extra £4k per year - a payrise of proportions that I've not seen for a good few years in construction.
The way I see it, one of our top guys, in his late 40s (im early 30s) is apparently at a salary level that if I ever reached would only see me a pitiful £300 extra per month after tax. Not a lot really and that's with working my nuts off for the next 4 or 5 years to get there.
Just looking for your thoughts.
I work as Quantity Surveyor/Estimator.
Recently I've looked at going freelance, which will benefit my greatly short-term financially.
I've spoken to a few people and there is work out there - just holding off until I've been on my summer hols before taking the final jump and handing my notice in.
However, spoke with an agency yesterday who advised me that my thoughts were very short-term. I think the phrase used was along the lines that i'd benefit now but wouldn't progress in the future as you don't effectively get promoted as a freelancer.
Is this the biased view of something trying to keep me in the permanent market?
I appreciate there is no promotion as such but is it not that with my experience and age increasing that so will my day rates, plus with the way the market's rates naturally increase? I believe that even with 6 months behind me I might be able to add another £20 per day, over a year this being an extra £4k per year - a payrise of proportions that I've not seen for a good few years in construction.
The way I see it, one of our top guys, in his late 40s (im early 30s) is apparently at a salary level that if I ever reached would only see me a pitiful £300 extra per month after tax. Not a lot really and that's with working my nuts off for the next 4 or 5 years to get there.
Hey Sider,
i would say only really look at freelancing when you are happy with the level you have got to as a QS. if you are an intermediate surveyor with narrow experience then i would say freelancing would not be the best thing for you. ive had freelance surveyors that have talked a good game but been woefully inexperienced (not always there fault) and ive had to get rid.
the point i am making is as a freelance QS you are mostly used as a tool by the company employing you, you will often get the s
t bits of work no one else wants or has the time to do, you'll be dealing with a vast spectrum of things hence why i mention it is key to have a broad knowledge base.
and a good freelance surveyor is hard to come by.
Good luck man.
i would say only really look at freelancing when you are happy with the level you have got to as a QS. if you are an intermediate surveyor with narrow experience then i would say freelancing would not be the best thing for you. ive had freelance surveyors that have talked a good game but been woefully inexperienced (not always there fault) and ive had to get rid.
the point i am making is as a freelance QS you are mostly used as a tool by the company employing you, you will often get the s
t bits of work no one else wants or has the time to do, you'll be dealing with a vast spectrum of things hence why i mention it is key to have a broad knowledge base.and a good freelance surveyor is hard to come by.
Good luck man.
Engineer1 said:
Freelancing means always selling your skills, and there is a maximum income as there will be a maximum hourly rate that the market will pay and a maximum number of hours you can work.
Which is when you start paying someone else less and charging them out at 2-3x that rate.The money may not be massively better, but working for yourself is so much better and satifying than being told what to do and being stuf in a stuffy office with a load of people you don't really like.
You won't regret it - i didn't although mine was forced on me by redundancy.
chonok said:
Engineer1 said:
Freelancing means always selling your skills, and there is a maximum income as there will be a maximum hourly rate that the market will pay and a maximum number of hours you can work.
Which is when you start paying someone else less and charging them out at 2-3x that rate.The money may not be massively better, but working for yourself is so much better and satifying than being told what to do and being stuf in a stuffy office with a load of people you don't really like.
You won't regret it - i didn't although mine was forced on me by redundancy.
t to do.M777CUS said:
i think when you are freelancing there is a real strange misconception that you are working for yourself. other than picking and choosing when you leave or join a company, whilst you are at the company you are often treat alot worse than the staff. you are very much told what to do, and you are often given the worse st to do.
Let's face it though, QSing isn't glamorous or sexy. As a contractor QS it's generally pretty s**t. t to do.Having done it, and still doing it to a degree but in a different capacity, I find it much better. As a permanent employee I was always doing way more hours than needed. I'd end up quite stressed and thinking about work at night. I literally don't think about work from the moment I leave the building now. I get paid more for less stress.
What's not to like?
I used to own/manage an agency placing permannent and freelance solicitors & other lawyers. As you say you can earn considerably more as a freelancer and you can claim certain costs against tax. Just remember that when there is a downturn your work will dry up long before permanent employees jobs are threatened.
I've been freelance since 1990, having been made redundant 3 times from permamant employment (engineering). I got my Chartership (IET) whilst freelance and have a number anywhere between 6 - 20(dependant on project) of permanant employees reporting to me. My line manager is also Freelance 
L1OFF said:
I've been freelance since 1990, having been made redundant 3 times from permamant employment (engineering). I got my Chartership (IET) whilst freelance and have a number anywhere between 6 - 20(dependant on project) of permanant employees reporting to me. My line manager is also Freelance
Could fall foul of IR35 if you are too long at one place. I know several contractors (including my son) who are doing so tho.L1OFF said:
I've been freelance since 1990, having been made redundant 3 times from permamant employment (engineering). I got my Chartership (IET) whilst freelance and have a number anywhere between 6 - 20(dependant on project) of permanant employees reporting to me. My line manager is also Freelance
<coff> IR 35 ? <coff>jonnydm said:
Plenty of 'ways around' or precuations to avoid IR35 so I'm lead to beleive. Some firms do 'opt out' clauses not that I'm sure they're worth much.
I have heard that my current place has an 18 month limit but I'm not entirely sure.
It's not so much the length of time. It's the working practice as I understand it. If it looks like a fish n all that.....I have heard that my current place has an 18 month limit but I'm not entirely sure.
jonnydm said:
Plenty of 'ways around' or precuations to avoid IR35 so I'm lead to beleive. Some firms do 'opt out' clauses not that I'm sure they're worth much.
I have heard that my current place has an 18 month limit but I'm not entirely sure.
That's permy HR departments not having a clue.I have heard that my current place has an 18 month limit but I'm not entirely sure.
bigandclever said:
jonnydm said:
Plenty of 'ways around' or precuations to avoid IR35 so I'm lead to beleive. Some firms do 'opt out' clauses not that I'm sure they're worth much.
I have heard that my current place has an 18 month limit but I'm not entirely sure.
That's permy HR departments not having a clue.I have heard that my current place has an 18 month limit but I'm not entirely sure.
things like appearing o nthe holiday rota and having to agree when to take leave for example ...
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