Currently contracting, so an week to week. boss says he maybe has enough work until middle of next year.
Thing is another job has been posted which is a permanent role, but approx £7K less than I am on, but wit holidays, sick days pension etc etc which I currently dont get as self employed.
Anyone been in a similar situation and made the move for less money?
Yes, I would.
yup.
i'd take a job for less money if it gave be a better commute to work.
Aren't contractors paid a fortune anyway? 🙂
As a contractor do you regularly put away money for quiet employment times?
I have taken voluntary redundancy recently and have secured a job with less money (similar drop) however a big wedge of cash is handy. Sure the drop in monthly income will be noticeable but this is offset by things that the lump sum will pay for.
depends if you're on 9k now and it's 7k less... or 55k and it's 7k less...
Potentially yes as you'd get the 7k back in healtcare, pension, sickness, holidays etc.
Yes but not for more security. Left the motor trade, where I had no clue what I was earning from one month to the next, one weekend off in four and a day off in the week when all my mates were at work.
Joined the bike trade as an assistant to the Service Manager and have worked my way up over the last 10 years. Less money at the time by around 4k a year (but difficult to tell because of the commission structure), but the security and knowledge that I couuld cover my outgoings every month at least made me sleep a little easier.
As the saying goes, we are here for a good time, not a long time!
If you can trim your outgoings enough to be able to do it, do it I'd say, especially with the way the economy is at the mo.
Good luck whatever you choose.
Now is the time to think less about the £ sign, and more about the value of the package.
If taking £7k less PA headline is doable (to use weeksy's examples), where do you actually get to on the overall package?
But, I've never been self-employed or changed jobs for less cash..!
i'd take a job for less money if it gave be a better commute to work.
not really a factor here as it is in the same building, same floor, just over 1 bay, so marginally longer walk from the lift.
If it's the same company and you're confident you'll get on in the new role (at least as much as your current one) then I'd do it, although as someone else posted it depends how much a percentage of your salary £7k is - if you're on less than £30k now that would be a huge hit.
You have to look at the whole package, and also you current position.
I work freelance, and if someone offered me a permanent role but less money, I'd take it.
Since it would offer me more security for my family.
How are you calculating the difference between the two salaries? If the contracting figure is just based on the rate without insurances / pension / accountant, then you'd be better off with the staff role, as by the time you have taken off everything, I'd guess it's would not make much difference to your take home pay (depending on your IR35 status).
Personally not convinced that job security and pensions are always a good thing, but it sounds like you veiw them as a positive, so i'd deffo consider a staff role.
Think it also depends what industry sector you are in.
I'm just probably about to do exactly that for a full time permanent core funded position as opposed to a higher paid 6 month rolling contract that's probably finishing for good next March, its less money coming in but its guaranteed.... good luck!! 😀
I do miss the money I got on contract but the fact was they came to me one day after 6 years and said - sorry got to let you go and it's out the door.
The point is define "more security"? Yes you will get sick pay, paid holiday and certain rights so as long as you behave and work to necessary standard it is generally difficult for a company to just get rid of you, certainly I think you'd have to do (or not do) something pretty drastic so that they could escort you off the premises without you being able to make a claim against them. But the "more security" issue is slightly more complex. The reality is the company could need to shed staff next week/month/year or even the whole sheband could come crashing down. You'd be in the same boat in either case whether a contractor or new employee. But as a contractor you will will have earned the pro rata equivalent of the £7k reduction.
As others have said it really depends what %age the £7k is. When I was on contract I was earning £1000 gross per week while I now earn £600 gross. Difference is I was on the rock n roll for 20 months in between. The question I put to myself is, would I jack in my present job for my last contract and to be honest I think I would have to say no in this climate. If rolls were reversed what would I do? Not sure on the face of it no. If I knew that potentially my contract had a finish of next June I'd probably take the risk of staying with it but start looking, putting CV about in the meatime in the hope I could turn something up nearer to the cut off time.
So basically I have wasted 5 mins typing something that fails totally to answer your question.