Permanent vs fixed contract

bradbcam

bradbcam

bradbcam

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27 Mar 2006
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Seems like you guys know you're fair share of work stuff so here goes.
How do you value a permanent job over fixed term (8 - 12 month) contracts?

I mean in monetery terms.
I'm currently waititng to be made permanent but another company are rattling me about taking a contract with them for 10 months.

Now it's about £5k extra, possible financial training and lots of extras (value of about £2k)

Any thoughts?

Such a big decision, but i've been doing these contracts for 3 years now.
 
permanent = more security job-wise (you know where you'll be in a few months time); have an internal career path where you can move up the ladder within the company; be part of bonus schemes (depending on the company); make long term friends (and enemies :p); sick pay & leave; holiday pay



if i think of any more i'll add them :)
 
williamw11 said:
On the contract what are the terms ie sick leave /annual leave etc. Would you be happy working for 10 months then having to look for a new job?
Click to expand...

The terms would be the same as full time employment except i'd be on a fixed contract so come month 9 they'd come to me and say a) we dont need you after month 10 or b) can you stay for another 10 months/ go perm.

I've been fairly happy for the last 3 years, it's just when is it time to settle!
 
I don't know what you do or your experience, but I'm a Business Analyst and last year I made the move from perm to fixed term contract.

I found it to be a very useful stepping stone for getting into proper contracting and since then I've not looked back. I've tripled my salary, gained loads of experience in a very short space of time and I'll have had 7 weeks holiday this year by the time August comes round.
 
Pension wise I've already got one from a very independat (official) pensions advisor.

I have been doing it 3 years and have probably doubled my salary, this job would be the second big pay rise in 4 months.
 
Are you sensible enough to put money by? Are you able to take the risk that at the end of the 10 months you may not have a job with them and may not be able to get another one for a while afterwards. If so then go for it, it has additional risks but naturally has additional benefits too.

It's something I couldn't do in my position, but thats not to say it wouldn't work for you.
 
I'm not sure if it's been lucky skill or a bit of both ... but in the last 3 years i've only been out of work (excluding the odd days holiday) for 2 weeks.

Maybe i could do with a holiday :)
 
Muban is right about putting money to one side.

Personally I keep 3 months worth of mortgage/rent payments to one side at all times.

Contracting is lucrative, but there will always be fallow periods. Contracting is a risk, but you get rewarded for taking the risk.

The main issue you may suffer from is "job hopping sydrome"; if/when you do look for a perm role people may wonder why you've not stayed in any position for a significant period of time.

I sometimes go for interviews for perm roles and it's a regular question.
 
The "job hopping" thing isn't something that has been mentioned to me yet. My current employers (contractors really) seem eager to take me on perm in 3 months but haven't mentioned this to me.

Plus I never do contracts shorter than 6 months
 
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