> Contractors still do a bit better than employees
Curious if that is actually true when comparing to tier 1 banks/hedge funds full time employee salaries+bonus+retirement+healthcare.
Assume 600 GBP/day * 22 day/month * 10 months (realistically) full time work, that's 132k/yr.
From that take out accounting, illness, insurance, healthcare, retirement, travel, possibly more.
All things considered, once you get above 100k base as employee contracting becomes less attractive.
Strictly as a money move that is, there's other dimensions for sure.
600 seems low - I earned a lot more than that back in the day, and that was a long time ago. A quick search of jobserve.com for just "java" found roles quoting up to 750 on the first page, and if you're any good that'll be negotiable. And if you get into even slightly niche things (Oracle Coherence, in my case) the rates are much higher.
In the US you pay more to freelance in taxes than you do as an employee (because the employer pays some on your behalf) but you can have other deductions as a contractor. So I think fairness is not specifically a sufficient motivator. The UK can have a tax advantage for freelancing but these freelancers lose out on employment protections. Dunno..
Curious if that is actually true when comparing to tier 1 banks/hedge funds full time employee salaries+bonus+retirement+healthcare.
Assume 600 GBP/day * 22 day/month * 10 months (realistically) full time work, that's 132k/yr.
From that take out accounting, illness, insurance, healthcare, retirement, travel, possibly more.
All things considered, once you get above 100k base as employee contracting becomes less attractive. Strictly as a money move that is, there's other dimensions for sure.