Perm to FTC

[fourstardan]

Hi,

Has anyone gone from a perm role to FTC?

Seems like the benefits I lose are pension and healthcare etc

I know who is recruiting for this role and they've said it FTC until they restructure (that I'd need to seek more info on)?

[Taita]

Have a quick glance at ContractorUK, they have a calculator to work out what the rate needs to be to equal certain salaries and some checklists of 'make sure you ask this'.

[Countdown]

fourstardan said:

Hi,

Has anyone gone from a perm role to FTC?

Seems like the benefits I lose are pension and healthcare etc

I know who is recruiting for this role and they've said it FTC until they restructure (that I'd need to seek more info on)?

I have a couple of times, including with my current employer. I came in on an FTC, a new role came up and they asked me if I was interested.

When deciding to move from perm to FTC the things i considered were

1. Salary increase
2. Other things (commuting etc)
3. Size of the organisation (large org = more perm opportunities coming up)

The main question is - does the salary increase justify the risk of going into a temporary role.

[fourstardan]

Taita said:

Have a quick glance at ContractorUK, they have a calculator to work out what the rate needs to be to equal certain salaries and some checklists of 'make sure you ask this'.

Thanks

What would I sit in on a FTC https://www.contractoruk.com/calculators ?

The money side has been thought about and its about 15% more than base salary I'm on now, but I get (a measly) annual bonus and pension at the moment so it may not actually work out.

That said, im fed up of my current role so its not all about money.

[edc]

You can still be an employee with the usual benefits on a fixed term contract.

[Countdown]

fourstardan said:

Thanks

What would I sit in on a FTC https://www.contractoruk.com/calculators ?

The money side has been thought about and its about 15% more than base salary I'm on now, but I get (a measly) annual bonus and pension at the moment so it may not actually work out.

That said, im fed up of my current role so its not all about money.

Are you an FTC employee or working as a Contractor outside IR35? They’re 2 different things.

An FTC Employee is basically an employee (and should get all the same T&Cs as a normal employee). A Contractor negotiates their own remuneration.

[fourstardan]

Countdown said:

Are you an FTC employee or working as a Contractor outside IR35? They’re 2 different things.

An FTC Employee is basically an employee (and should get all the same T&Cs as a normal employee). A Contractor negotiates their own remuneration.

It will be a FTC employee.

So yes..salary and benefits still available but you have a limited contract.

I'm mostly happy with the terms, the role will include plenty of work that won't dry up I am sure.

[Gazzab]

I would avoid FTC roles. They tend to be looked down upon as they tend to be a cheaper way of a client/employer gaining a contractor (which I take as an insult), they are generally only taken by those who are desperate (well that is the case in my industry) and your colleagues will still treat you like an outsider.
In my industry they are ‘avoid at all costs’. But ultimately we all have bitter pills to swallow now and again.
But the world of work is changing and an FTC can now be better than an ‘inside ir35’ role.
Personally I’d rather have a proper career perm role than an FTC.

[Countdown]

Gazzab said:

I would avoid FTC roles. They tend to be looked down upon as they tend to be a cheaper way of a client/employer gaining a contractor (which I take as an insult), they are generally only taken by those who are desperate (well that is the case in my industry) and your colleagues will still treat you like an outsider.
In my industry they are ‘avoid at all costs’. But ultimately we all have bitter pills to swallow now and again.
But the world of work is changing and an FTC can now be better than an ‘inside ir35’ role.
Personally I’d rather have a proper career perm role than an FTC.

I can't see what it has to do with "Contractors". There are numerous times when a role will come up when it's only a Fixed term post. Maternity leave is probably the best example but also filling vacant posts during busy periods. or filling roles during restructures or mergers.

[fourstardan]

Countdown said:

I can't see what it has to do with "Contractors". There are numerous times when a role will come up when it's only a Fixed term post. Maternity leave is probably the best example but also filling vacant posts during busy periods. or filling roles during restructures or mergers.

This is how I see it.

Its situation driven based on organisation type/status/goals and also I expect who they want to try and get rid of!

Now if it was a role in Gov or public sector I'd kind of get what gazzab is talking about.

[Gazzab]

Countdown said:

Gazzab said:

I would avoid FTC roles. They tend to be looked down upon as they tend to be a cheaper way of a client/employer gaining a contractor (which I take as an insult), they are generally only taken by those who are desperate (well that is the case in my industry) and your colleagues will still treat you like an outsider.
In my industry they are ‘avoid at all costs’. But ultimately we all have bitter pills to swallow now and again.
But the world of work is changing and an FTC can now be better than an ‘inside ir35’ role.
Personally I’d rather have a proper career perm role than an FTC.

I can't see what it has to do with "Contractors". There are numerous times when a role will come up when it's only a Fixed term post. Maternity leave is probably the best example but also filling vacant posts during busy periods. or filling roles during restructures or mergers.

Because it does. Clearly FTC roles are now often used as a cheaper way of getting a contractor. They tend to attract the lower end of capability.

[Countdown]

Gazzab said:

Countdown said:

Gazzab said:

I would avoid FTC roles. They tend to be looked down upon as they tend to be a cheaper way of a client/employer gaining a contractor (which I take as an insult), they are generally only taken by those who are desperate (well that is the case in my industry) and your colleagues will still treat you like an outsider.
In my industry they are ‘avoid at all costs’. But ultimately we all have bitter pills to swallow now and again.
But the world of work is changing and an FTC can now be better than an ‘inside ir35’ role.
Personally I’d rather have a proper career perm role than an FTC.

I can't see what it has to do with "Contractors". There are numerous times when a role will come up when it's only a Fixed term post. Maternity leave is probably the best example but also filling vacant posts during busy periods. or filling roles during restructures or mergers.

Because it does. Clearly FTC roles are now often used as a cheaper way of getting a contractor. They tend to attract the lower end of capability.

Companies will always look for the cheapest way of getting staff. Why would they pay more than they needed to pay in order to get a job done? This isn't a Permie/FTC/Agency temp/Contractor question. You look at how long you need a person for and then you look at the best way of recruiting them. that might be Permie, it might be FTC, it might be Agency.

[Gazzab]

Countdown said:

Gazzab said:

Countdown said:

Gazzab said:

I would avoid FTC roles. They tend to be looked down upon as they tend to be a cheaper way of a client/employer gaining a contractor (which I take as an insult), they are generally only taken by those who are desperate (well that is the case in my industry) and your colleagues will still treat you like an outsider.
In my industry they are ‘avoid at all costs’. But ultimately we all have bitter pills to swallow now and again.
But the world of work is changing and an FTC can now be better than an ‘inside ir35’ role.
Personally I’d rather have a proper career perm role than an FTC.

I can't see what it has to do with "Contractors". There are numerous times when a role will come up when it's only a Fixed term post. Maternity leave is probably the best example but also filling vacant posts during busy periods. or filling roles during restructures or mergers.

Because it does. Clearly FTC roles are now often used as a cheaper way of getting a contractor. They tend to attract the lower end of capability.

Companies will always look for the cheapest way of getting staff. Why would they pay more than they needed to pay in order to get a job done? This isn't a Permie/FTC/Agency temp/Contractor question. You look at how long you need a person for and then you look at the best way of recruiting them. that might be Permie, it might be FTC, it might be Agency.

Different point. Of course they do this. The point is that FTC roles generally attract a certain lower capability.