Should I try a contact role? (see redunducy thread!)

[413x]

This is an addition to the redundancy thread!


I'm being made redundant from my current role. And had mentioned about maybe going contracting.

Obviously right now I do not have the "certainty of a payee" perk! And that has always been a bit of a mental block.


A lot of other factors suggest now would be a good time?

-I have a savings buffer. Probably a year if I had to.
-My partner has a stable job.
-I do often get bored in my roles after 6 months. Often the work is done and I move into a maintaining remit.
-I've left 3 jobs in under 2 years each. This one redunducy, last 2 I got bored
-my mortgage is fixed for 5 years
-no kids or other financial commitments


Ideally I wanted one more challenging job before considering it. But does the curve ball my job had thrown me make it a "now or never" kind of opportunity?



Whenever I see job adverts the pay vs responsibility seems dream land. And I can't believe its that easy (the job).


I understand I need to pay my own tax, pension, no sick pay etc etc

 

[413x]

Well, the beauty of contracting is that you have no commitments. Just apply for one, try it, if you don't like it, go back to permanent.

Get limited company side is a piece of urine to set up, set up the company online in 10 minutes and get a contractor accountant to take care of the rest. Back when I started contract years ago I didn't get the company side sorted until after I'd started my first contract.

Contract roles don't have to be not challenging....sure there's plenty of opportunity to earn decent money just turning up and doing the required work and going home, but there's plenty of scope to take on senior and challenging jobs.

I don't know what rates are like these days, but when I switched from permie to contract, I went from £2.5k net monthly salary, to just shy of £10k monthly net, for an easier job, no management. Pays for a lot of sick days, holidays, pensions etc.

I've seen a few actually that pay very similar.
I'm in the same position.

2700 ish take home, with day rates in region of 4-500. For jobs that look easy. The job description is my day job, the core parts too.

So a significant up lift.

I have to say. More than the money the flexibility is what appeals. More interesting roles potentially. As I'm very much most engaged in early days of my last 3 jobs.

Time. 3 months off would be my ultimate aim in career. To have 2-3 months of being able to go van life/adventuring is something you just can't do with a normal job.


The money is great. But I do not. Want a fancy house. But to pay a cleaner for example (again freeing time) and little things like that sounds amazing.

 

[413x]

Thanks for your help. Going to try to persue this route. Most excited I've been in years. Guess I'm kind of ready.

Actually think my type of work lends better to contract than permanent. Once you've built/designed etc it seems to become more maintaining.