Contracting or Permanent
- Thread starter Mikey
- Start date
Do you get much more money contracting? Would you do it through an umbrella or your own limited company?
If it's one month rolling then thats a big risk unless financially motivating.
I personally prefer contracting as I find I get a LOT more money per hour than I would as a perm.
If it's one month rolling then thats a big risk unless financially motivating.
I personally prefer contracting as I find I get a LOT more money per hour than I would as a perm.
Soldato
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- 18 Oct 2002
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If contracting you'll need to factor in:
There are companies that specialise in contractor mortgages so you should be ok there provided you have a bit of history. Having a job paying £1000 per day for a week won't mean you can get a massive mortgage!
I've done both and am currently a permie working at a brolly company!
- Fees to the brolly company or accountant
- Employers NI
- No Paid Leave
- Security
There are companies that specialise in contractor mortgages so you should be ok there provided you have a bit of history. Having a job paying £1000 per day for a week won't mean you can get a massive mortgage!
I've done both and am currently a permie working at a brolly company!
Caporegime
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- In a house
Id take the permanent, you know where you are then, i doubt a monthly rolling is secure, they could just finish you anytime id have thought.
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Yeah I would take the permanent, not sure how closely they look at contracting to be a risky element in job security when it comes to getting a mortgage?
Also they probably will look at your contracting history and if there isn't much than that may not help?
BB x
Also they probably will look at your contracting history and if there isn't much than that may not help?
BB x
Teledude said:The contract will net you marginally more but its not really worth it over the perm role imo - and contracting is fine for mortgages as long as you can prove a "steady" income
marginally more?
i would easily double my salary if i went contracting.
Generally speaking contracting is much better paid. But the big killer is security. Your contract can be terminated with littleor no notice. So if you have finance behind you already then contracting can be better. In this situation though I'd say go permie for security as the money doesn't seem good enough for contract.
One thing I would say is that a 1-month rolling contract isn't much worse than some permanent jobs with poor redundancy packages and a 1 month notice period. Effectively you get the same amount of notice, you won't get a pay-out at the end of the contract but chances are you will be earning a lot more in that month than you would in a permanent position anyway.
Other factors like how easy it would be to find another job come into play. If I could drive then I'd definitely be looking at contracting more seriously.
Don't forget that with the extra money earned as a contractor, even if you end up unemployed for a month or two while lining up your next job it's not the end of the world as you've been stashing away so much cash in the preceeding months.
Obviously for the OP it's slightly different in that £19/hr isn't all that much for a contracting job so he's probably made the right choice to go permanent in this case.
Other factors like how easy it would be to find another job come into play. If I could drive then I'd definitely be looking at contracting more seriously.
Don't forget that with the extra money earned as a contractor, even if you end up unemployed for a month or two while lining up your next job it's not the end of the world as you've been stashing away so much cash in the preceeding months.
Obviously for the OP it's slightly different in that £19/hr isn't all that much for a contracting job so he's probably made the right choice to go permanent in this case.
