Advice on contract work

mach1982

Mods , if this wrong pace can you correct .

I've work in my current job, fro 7 years, it basically level 1/2 tech support . I have an interview coming up for an contact position, it would where i set my own business or join and umbrella company . The pay is day rate .

I can't real go any further where I am apart management which I do not want to do.

A lot of members of family are advising not to take job if I am offer, one even thinks it is a scam. I know it contract , and there is a risk, that I could be let go after the contract but I fell like it the right thing for me to do .

I'm look for people experiences of this type of work .

km991148

can't advise on your particular line of work, but if you look at the Software and Web Development section those guys use contracts all the time - you might get more general contracting advice there?

Mr. G

Have you considered applying for a new job in the mean time?

Laviski

Mr. G wrote: »

Have you considered applying for a new job in the mean time?

Remeber when self employed the risks are higher.
If fails the social welfare will give you nothing.
You get the means tested payment after you jump a lot of hoops.

PlainP

mach1982 wrote: »

Mods , if this wrong pace can you correct .

I've work in my current job, frDirs, it basically level 1/2 tech support . I have an interview coming up for an contact position, it would where i set my own business or join and umbrella company . The pay is day rate .

I can't real go any further where I am apart management which I do not want to do.

A lot of members of family are advising not to take job if I am offer, one even thinks it is a scam. I know it contract , and there is a risk, that I could be let go after the contract but I fell like it the right thing for me to do .

I'm look for people experiences of this type of work .

Hi Op, im in the exact same position as you. Did you get any more information on this topic. I have Accepted my contract but I'm not really sure of the procedure regarding holidays or anything like that. I would love to hear from people who already do contracting work. Thanks.

syklops

mach1982 wrote: »

Mods , if this wrong pace can you correct .

I've work in my current job, fro 7 years, it basically level 1/2 tech support . I have an interview coming up for an contact position, it would where i set my own business or join and umbrella company . The pay is day rate .

I can't real go any further where I am apart management which I do not want to do.

A lot of members of family are advising not to take job if I am offer, one even thinks it is a scam. I know it contract , and there is a risk, that I could be let go after the contract but I fell like it the right thing for me to do .

I'm look for people experiences of this type of work .

Contracting in IT is quite common. My girlfriend does it and it definitely is not a scam. She has an accountancy company that takes care of her timesheets and tax so she doesnt have to do anything. It is not the same as being self employed and you are entitled to social welfare.

Your family are concerned for you about not being guaranteed a job a year from now, but to be honest, you're not guaranteed that in your current job either. The days are gone when someone works for a company for 20 years and then retires. In fact staying much longer in that company could harm future jop propects. Unless he/she was sh!t hot, I would be less inclined to hire someone who worked for a company for 7 years in a low to mid level.

A colleague of mine just left for a 6 month contract in the middle east on a daily rate of about $2000. Firewall specialist. If you can find an area to specialise in, the rewards are there. Just remember to put a bit aside for those times when you are not working.

advertsfox

I worked for a large American company in Dublin and was contracted through an umbrella company. I went for the method where I let them sort my PAYE and other taxes for a fee (I wasn't happy with the fee but wasn't ready to go all on my own and pay taxes at year end). Personally, it was a horrible experience. I went through three different umbrella companies in the same office and was rightly ripped off each time. I got no rights within that company, I had no paid holidays / sick days / bank holidays; no entitlements at all. Just 1 day off in the month and I was short wages.

I remember after a few months in the job, the provider I was using decided to change their policy of max pay her hour rate (no holidays included for me was 14 P/H) to be deducted with no opt out option to include a regulation where they take my holiday pay out of my wages until the end of the year.

If possible, you will always be better off (unless full time is available or contracts with the company itself) with a company who uses a 3rd party provider (e.g Manpower) since you still get holidays / sick days etc. and be better off with more % of your salary actually coming to you (since the company pays the contractor).

free_man

OP and advertsfox,

Contract job is just that.. CONTRACT. You are not entitled for sick/holiday pay and you earn for your work.
In most cases you will get more than normal rate for salaried and that should cover sick/holidays.

I suggest following :
1> Confirm that you get atleast 20% more post tax than salaried before entering into a contact.
2> Keep that 20% in a savings account and don't touch it unless you have to.
3> Remeber its not PERMANANT. Develop contact to jump contract so as to have safety net incase current runs our or you are fired.

I have been in contract for a year and I am through Umbrella company as well. I have had no issues. My take home is 50% more than salaried and I can't complain.
People make too much issue of unpaid holidays for contract.
Consider this...
For a salaried, 12 months pay means 11 months work pay and abt 1 month sick and holiday pay.
So if 11 months pay on contract is more that your annual salary, you are covered.
About PRSI and Jobseekers, I think you should plan for rainy day anyway rather wait for govt. to give u a brolly.

Lastly can admins move this thread to Jobs section ??