IT Contracting
Discussion
How do you know when it's time to make the jump from perm to contractor?
I have been in the industry for just over 3 years now and have worked with various contractors over that time. The vast majority are much more skilled than I am admittedly, however some are average at a push - Whenever I come across an 'average' contractor, I think to myself 'Wow, he's earning probably quadruple what I am' for doing the same, if not a worse job than me. I've always envisaged that contracting is where I'll end up after I have built up enough experience in my field (DevOps), just how do I know when that is exactly?
I have been in the industry for just over 3 years now and have worked with various contractors over that time. The vast majority are much more skilled than I am admittedly, however some are average at a push - Whenever I come across an 'average' contractor, I think to myself 'Wow, he's earning probably quadruple what I am' for doing the same, if not a worse job than me. I've always envisaged that contracting is where I'll end up after I have built up enough experience in my field (DevOps), just how do I know when that is exactly?
Thanks for the response both - I should've been more detailed in my opening question. I have approximately 5 months of salary saved. I'd rather not go into it but I could, this continues to build as I don't plan on contracting anytime soon as I've just started a new role which I'm learning quite a lot. I just got sent a very interesting contracting job, it looks very attainable so I'm pondering the idea in more depth.
To clarify, I have spoken to my former contractor colleagues and they have all said that I should just take the leap and learn to swim in the deep end. I feel as though I basically did this when leaving my first employer to join a private sector company which expected a lot of me and I had to learn quickly. So I know what it'll be like in a sense, just amplified I imagine.
I'm just worried about my skill set mostly, I'd like to think I'm competent at most components of my role, however I expect that an employer would want a contractor to be at the top of their profession? But as I said above, I have seen quite a few pretty s
t contractors who're essentially stealing a living, could I (or rather should I), be one of those? Or wait until I have another 2-5 years worth of experience to call upon?
I have worked out that a mid-level DevOps contract is £400-£500 where I live, using https://www.sjdaccountancy.com/contractor_calculat... says I'd be taking home £6619 - £8519 per month respectively or anywhere in between which I can safely say is more than I'm earning now, even with my generous pension/holidays package.
To clarify, I have spoken to my former contractor colleagues and they have all said that I should just take the leap and learn to swim in the deep end. I feel as though I basically did this when leaving my first employer to join a private sector company which expected a lot of me and I had to learn quickly. So I know what it'll be like in a sense, just amplified I imagine.
I'm just worried about my skill set mostly, I'd like to think I'm competent at most components of my role, however I expect that an employer would want a contractor to be at the top of their profession? But as I said above, I have seen quite a few pretty s
t contractors who're essentially stealing a living, could I (or rather should I), be one of those? Or wait until I have another 2-5 years worth of experience to call upon?I have worked out that a mid-level DevOps contract is £400-£500 where I live, using https://www.sjdaccountancy.com/contractor_calculat... says I'd be taking home £6619 - £8519 per month respectively or anywhere in between which I can safely say is more than I'm earning now, even with my generous pension/holidays package.
CzechItOut said:
Look at the roles being advertised. Many specify a minimum amount of experience, therefore if you meet that there's no harm in applying.
I found that talking to other contractors was also beneficial before making the jump. They will have lots of hints and tips when it comes to salaries, accountants and so on.
Finally, it is unlikely that contractors are on quadruple what you earn, unless you are very underpaid. Look at the daily rates for the roles advertised and assume you work about 44 to 46 weeks a year therefore taking into account bank holidays, leave and other days off. This will give you a realistic indication of your likely income.
Based on the lower figure I quoted above of c£6.6k it's almost exactly triple my take home. If I take in to account my pension, holidays and sick pay etc then it's safe to say it's still a fair bit more than double. Plus the idea of being my own boss in many ways is very appealing to me. I found that talking to other contractors was also beneficial before making the jump. They will have lots of hints and tips when it comes to salaries, accountants and so on.
Finally, it is unlikely that contractors are on quadruple what you earn, unless you are very underpaid. Look at the daily rates for the roles advertised and assume you work about 44 to 46 weeks a year therefore taking into account bank holidays, leave and other days off. This will give you a realistic indication of your likely income.
But I appreciate your points, I know it isn't as simple as a large pay rise, there's a lot of related stresses involved. However, I still think that if it wasn't worth doing then all of the best wouldn't be doing it!
AndStilliRise said:
Define boss?
Do you mean as a contractor you are treated as lowest of the low, when the employees go to the pub you are not invited or when there is a function and contractors are not allowed to go?
Money wise it is great but every other single aspect is st I am afraid.
That's definitely not the case in the companies I have worked. In my current company it's almost the reverse.Do you mean as a contractor you are treated as lowest of the low, when the employees go to the pub you are not invited or when there is a function and contractors are not allowed to go?
Money wise it is great but every other single aspect is s
t I am afraid.hyphen said:
You are not ready.
It requires using your own initiative, you appear to not have thought of searching and reading the other hundred similar threads that have been created on here for your generic question. Employee material I am afraid.
I've not once said that I am ready? My whole question is asking when do you "know"?It requires using your own initiative, you appear to not have thought of searching and reading the other hundred similar threads that have been created on here for your generic question. Employee material I am afraid.
Edited by hyphen on Monday 12th March 10:02
For the record I have done my own research, probably not enough as I'm not intending on doing so in the near future. I just thought it'd be useful to gain the insight of some seasoned IT professionals aside from former contractor colleagues.
I actually spoke to a Senior DevOps contractor who I work alongside who explained in depth the pros/cons and broke down the tax benefits/drawbacks of being a contractor of your own LTD company. Safe to say it has only re-affirmed my desire to become one in the next few years.
I plan to 'master' our current stack as it is cutting edge stuff, I feel that once I have a high level of understanding of this I'll be comfortable in making the leap. 1-3 years I'm guessing, depending on how well I develop my skills/confidence.
I plan to 'master' our current stack as it is cutting edge stuff, I feel that once I have a high level of understanding of this I'll be comfortable in making the leap. 1-3 years I'm guessing, depending on how well I develop my skills/confidence.
Gassing Station | Jobs & Employment Matters | Top of Page | What's New | My Stuff