Adding my two cents. I have been a contractor for almost 3 years now. My personal opinion:
- Contracting pays a lot more than a perm role.
- You do not deal with politics, which is a major plus for me.
- You do not hear about you not getting your promised y% bonus because company did not do x% business.
- You are not worried about 'changing the world', the way you would in a startup.
- working 4-6 years your asses off at a startup may be equivalent to working as a contractor for that time. That is a big may be, your skills, confidence, market everything plays a big role.
- Always get a good accountant, go for ltd company, enroll your wife and PAY YOUR TAXES!
- I started when i had about a month's savings, and it worked out well.
- Day rates depend on your skill set. 350 is the minimum i guess for any role, max is your imagination! 800? 1000? but getting 500-550 should be the target at least.
- Getting a contract is tricky: use linkedin, recruiters, friends and whatever else. All are necessary. I would not worry too much about a recruiter getting a cut as long as i get what i had asked for.
- Get a contract before quitting your perm role. Mostly companies looking for a contractor wait for 2 weeks, if you are good and your skills are in demand they would wait for 3-4 weeks.
- Always plan your vacation at times when everyone else is on holiday. December/January and April are good times.
- HMRC website is good enough to register a company, 15 pounds and 20-30 mins.
- Getting 450 a day is always better than siting idle waiting for that 550-600 a day contract.
- There is lot of competition, be prepared for that.
- Prepared for some level of stress (specially when you are out of work), it is still worth it.
- Do not worry too much about your utilization in a contract, it is the client's worry. You are paid for your skills and not your time. Do put reasonable time, but that is not the criteria you were hired with.
- 'Doing/Completing my time' is a BS. I have had several contracts and none of the clients ever had problems with my timings. And i am particularly bad at working normal hours. Sometimes i get at work at 10 and leave at 5. At times i work whole nights.
- Recruiters are lairs, don't give too much info. Ask for a job spec and day rate before giving any info. I would help you, after you get me a contract!
- Send your CV to all who asks for it. Keeps you in the market.
- You will not necessarily get a higher day rate if you went directly with a client. Your day rate depends on your skills and negotiating skills only. If you do not ask for a good day rate, chances are, you wont get it.
- Sometimes, leave it on Luck. We can be the smartest asses on the planet, but at times need luck.
Hope this helps.
- Contracting pays a lot more than a perm role.
- You do not deal with politics, which is a major plus for me.
- You do not hear about you not getting your promised y% bonus because company did not do x% business.
- You are not worried about 'changing the world', the way you would in a startup.
- working 4-6 years your asses off at a startup may be equivalent to working as a contractor for that time. That is a big may be, your skills, confidence, market everything plays a big role.
- Always get a good accountant, go for ltd company, enroll your wife and PAY YOUR TAXES!
- I started when i had about a month's savings, and it worked out well.
- Day rates depend on your skill set. 350 is the minimum i guess for any role, max is your imagination! 800? 1000? but getting 500-550 should be the target at least.
- Getting a contract is tricky: use linkedin, recruiters, friends and whatever else. All are necessary. I would not worry too much about a recruiter getting a cut as long as i get what i had asked for.
- Get a contract before quitting your perm role. Mostly companies looking for a contractor wait for 2 weeks, if you are good and your skills are in demand they would wait for 3-4 weeks.
- Always plan your vacation at times when everyone else is on holiday. December/January and April are good times.
- HMRC website is good enough to register a company, 15 pounds and 20-30 mins.
- Getting 450 a day is always better than siting idle waiting for that 550-600 a day contract.
- There is lot of competition, be prepared for that.
- Prepared for some level of stress (specially when you are out of work), it is still worth it.
- Do not worry too much about your utilization in a contract, it is the client's worry. You are paid for your skills and not your time. Do put reasonable time, but that is not the criteria you were hired with.
- 'Doing/Completing my time' is a BS. I have had several contracts and none of the clients ever had problems with my timings. And i am particularly bad at working normal hours. Sometimes i get at work at 10 and leave at 5. At times i work whole nights.
- Recruiters are lairs, don't give too much info. Ask for a job spec and day rate before giving any info. I would help you, after you get me a contract!
- Send your CV to all who asks for it. Keeps you in the market.
- You will not necessarily get a higher day rate if you went directly with a client. Your day rate depends on your skills and negotiating skills only. If you do not ask for a good day rate, chances are, you wont get it.
- Sometimes, leave it on Luck. We can be the smartest asses on the planet, but at times need luck.
Hope this helps.