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London - trying to work out what I need to earn daily rate for it to make sense...

  • 10-03-2016 12:23am
    #1
    martco
    Registered Users, Registered Users 2 Posts: 459 ✭✭


    I've been offered a contract to work an IT project, datacentre migration in The City the projection is 18 months duration

    I live in Dublin have a family, one of the children is special needs...my house and odds n ends needs about €4.5k per month to run...depending on the job over the last 5 years I've done both perm (€60-70k) and contractor/sole trader gigs (€450pd) which just about meets the requirement, I don't get to save a whole lot

    Anyway this job offer, I've been asked to work out what I need moneywise if I were to accept the challenge, the people potentially employing me to do this gig are a Canadian crowd and have zero local knowledge of or presence in London, they will pay me a fee and it'll be all down to me...I have to admit my knowledge of London isn't much better than theirs in this context apart from a couple of hotel weekend breaks recently in the Canary Wharf area and via general chit chat I formed the impression that the cost of living is utterly bonkers.

    I have no support advantages over there, relatives I could stay with etc.
    So I envisage it's me living out of a hotel Monday-Friday and the odd weekend due to the nature of the work.

    I realise Sterling is strong, I've often heard of lads working over in the UK on £60k and coming out of it very well but I'm thinking of the near future here and a potential slide towards parity

    All in all I'm nearly thinking I'll need to have £750pd fee to make this worth my while (remember I'll have to organise/pay for everything myself)

    Wondering if there's any self-employed fellas out there who are working currently/fairly recently in central London and have advice on all this

    ta
    M


Comments

  • #2
    srsly78
    Registered Users, Registered Users 2 Posts: 7,157 ✭✭✭srsly78


    Sterling is not strong, look at a graph.


  • #3
    martco
    Registered Users, Registered Users 2 Posts: 459 ✭✭martco


    thanks, per what I wrote in the post (apart from the heavier expenses of running my own show so to speak) its one of the concerns kinda I was getting at...."but I'm thinking of the near future here and a potential slide towards parity"


  • #4
    td2008
    Registered Users, Registered Users 2 Posts: 486 ✭✭td2008


    I'd also factor in the lower taxes in the UK if your company is based there -
    higher bands, tax on dividends allow you to take money out of the company more efficiently than here - laws are changing around this iirc


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