RBS - Leaked email revealing 3000 IT/Banker contractors pay

[amir_j]

Papers reporting Hays list of 3000 contractors working for RBS has been leaked, an employee sent an attachment by mistake,.

Highest was £2000 a day.

[Mattt]

How quickly do you think the staff member was marched out of the building?

[Megaflow]

Somebody's going to need more than a telephone directory down their trousers...

[DonkeyApple]

amir_j said:

Papers reporting Hays list of 3000 contractors working for RBS has been leaked, an employee sent an attachment by mistake,.

Highest was £2000 a day.

Once you take off what Hays would have been taking that isn't the highest figure around.

The norm for banking IT would appear to be £1,200 for relatively senior personnel.

Most of those contractors are likely to be back office clerks though.

[powerstroke]

God knows why they were bailed out... It is possibly the worst of all the banks
crap to deal with and the worst or best depending on if you have your snout in the trough or your a customer

[fido]

DonkeyApple said:

The norm for banking IT would appear to be £1,200 for relatively senior personnel.

Most of those contractors are likely to be back office clerks though.

This isn't exactly news .. unless your one of these jealous leftie types. As you say, the average IB bod gets much less nowadays - those with specialist skills will get nearer to that figure you quote.

Mattt said:

How quickly do you think the staff member was marched out of the building?

He, or she, would be lucky not to leave via a window. That's one career-destroying f*k up!

Edited by fido on Wednesday 24th August 11:39

[Frankeh]

fk a duck. I'm wasting myself here! I need to become a contractor.

Edit:
Absolutely wasting myself! I could be to this level of expertise by next year.

http://www.hays.co.uk/jobs-search/JOB_854564?rowNu...

£350 a day!

Edited by Frankeh on Wednesday 24th August 11:50

[fido]

Frankeh said:

http://www.hays.co.uk/jobs-search/JOB_854564?rowNu...

£350 a day!

"This role will involve: Shift working · Weekend working"
oh, take into account holidays, no pensions, being disposed off at a weeks notice .. and it doesn't sounds so great.

[Frankeh]

fido said:

Frankeh said:

http://www.hays.co.uk/jobs-search/JOB_854564?rowNu...

£350 a day!

"This role will involve: Shift working · Weekend working"
oh, take into account holidays, no pensions, being disposed off at a weeks notice .. and it doesn't sounds so great.

Only have to work approximately 20 weeks of the year to accommodate my lifestyle. Not baaad!

[grumbledoak]

Frankeh said:

Only have to work approximately 20 weeks of the year to accommodate my lifestyle. Not baaad!

Do you think they'd accept that deal?

[Frankeh]

grumbledoak said:

Do you think they'd accept that deal?

Ha, no. But don't contracts often start off as 6 month contracts? That's near enough.

Edit:That particular job post even says it's a 6 month initial contract.

[TEKNOPUG]

Frankeh said:

Ha, no. But don't contracts often start off as 6 month contracts? That's near enough.

Edit:That particular job post even says it's a 6 month initial contract.

It's equivalent to £100k+ annual salary (providing you are efficient with your taxes)....and my boss wonders why I won't take a permanent job here.....

[M@verick]

Frankeh said:

Ha, no. But don't contracts often start off as 6 month contracts? That's near enough.

Edit:That particular job post even says it's a 6 month initial contract.

Seriously though - if you think that you are wasted in your current position and have the desired skillset, why dont you go contracting ?.

There is additional risk to take on, i.e. you have to ensure you are working enough of the year to pay your outgoings, and you have to manage your books/accountant/tax /admin (which is something of a learning curve). Also you have to be prepared to travel, and you will have to manage your own health ins/holiday and sickness pay/pension/expenses etc. Given the right daily rate though none of these should be barriers to wanting to go contracting.

Those things above are the nature of the beast and the reason the rates are higher than a comparable full time position. Dont let that stop you though, go for it !.

R.

[fido]

TEKNOPUG said:

It's equivalent to £100k+ annual salary (providing you are efficient with your taxes)....and my boss wonders why I won't take a permanent job here.....

How do you get £100k - assume 4 weeks holiday - so 48 weeks * 7 * 350 = 117.6k gross.

Comparing like-for-like i.e. drawing a normal salary and not leaving it as retained capital, can you get away with only paying 15% tax? Then there's pensions as well. Also how easy would it be to find another contract after quitting your 6-month contract - would the next company prefer to take on somebody who has a track record of leaving after 20 weeks? I'm thinking more along the lines of 70k + non-contributory pension?

[youngsyr]

fido said:

How do you get £100k - assume 4 weeks holiday - so 48 weeks * 7 * 350 = 117.6k gross.

Comparing like-for-like i.e. drawing a normal salary and not leaving it as retained capital, can you get away with only paying 15% tax? Then there's pensions as well. Also how easy would it be to find another contract after quitting your 6-month contract - would the next company prefer to take on somebody who has a track record of leaving after 20 weeks?

...track record could be advantageous if the company only wants someone for 20 weeks work.

[Frankeh]

M@verick said:

Frankeh said:

Ha, no. But don't contracts often start off as 6 month contracts? That's near enough.

Edit:That particular job post even says it's a 6 month initial contract.

Seriously though - if you think that you are wasted in your current position and have the desired skillset, why dont you go contracting ?.

There is additional risk to take on, i.e. you have to ensure you are working enough of the year to pay your outgoings, and you have to manage your books/accountant/tax /admin (which is something of a learning curve). Also you have to be prepared to travel, and you will have to manage your own health ins/holiday and sickness pay/pension/expenses etc. Given the right daily rate though none of these should be barriers to wanting to go contracting.

Those things above are the nature of the beast and the reason the rates are higher than a comparable full time position. Dont let that stop you though, go for it !.

R.

Well I've literally just started on my path to getting some cisco certifications since all my skills are experienced based (For a 22 year old I've somehow managed to rack up 4 years of fulltime experience and an additional 3 of part time) so I don't have much in the way of paper qualification to show for it. I'd think a CCNP would be achievable by mid next year if I put my mind to it.
Oddly there's more demand for CCNP's than CCIE's on the hays site. I'll assume it's because of how much money they usually command..

[Rude-boy]

youngsyr said:

...track record could be advantageous if the company only wants someone for 20 weeks work.

And it would appear that in many areas there are a lot of companies that want to empoly people on 3-6 month contracts these days, rather than take on full time empoyees.

[Frankeh]

Rude-boy said:

youngsyr said:

...track record could be advantageous if the company only wants someone for 20 weeks work.

And it would appear that in many areas there are a lot of companies that want to empoly people on 3-6 month contracts these days, rather than take on full time empoyees.

Double advantage is that getting shoved into a new environment every 6 months really keeps you on your toes when it comes to learning. The problem I find with working at the same place for too long is that you get very good at doing only the things you need to do, then you just keep doing them ad infinitum. Gets stale.

That's been my reason for leaving all my jobs so far.

[DJRC]

Frankeh said:

Rude-boy said:

youngsyr said:

...track record could be advantageous if the company only wants someone for 20 weeks work.

And it would appear that in many areas there are a lot of companies that want to empoly people on 3-6 month contracts these days, rather than take on full time empoyees.

Double advantage is that getting shoved into a new environment every 6 months really keeps you on your toes when it comes to learning. The problem I find with working at the same place for too long is that you get very good at doing only the things you need to do, then you just keep doing them ad infinitum. Gets stale.

That's been my reason for leaving all my jobs so far.

If you are only 22 then dont do it yet, you havent got the experience of what not to do, what to do when, how to get around stuff and how to cover your arse when you do fk up. As a contractor I would recommend you get 10yrs in, then go contracting. Your experience will be in the bag and you can set yourself for life. The best contractors are *always* the guys with the experience, not just work aswell but life. Thats just the way it is in this game.

[fido]

youngsyr said:

...track record could be advantageous if the company only wants someone for 20 weeks work.

it certainly can be an advantageous e.g. those auditors on £2k per day - but in other roles it would look quite bad if you spent less than 1 year in each role e.g. developer or project manager.

Edited by fido on Wednesday 24th August 12:56