money

Bloody Hell! How Much?????

There will come a time, probably on each contract, when word spills out as to how much money you are receiving for your efforts.

I can never be 100% sure where the leak occurs, however I strongly suspect the purchase ledger teams who deal with your invoices.

Once the word is out, you will be met by sarcastic, jokey and sometimes vitriolic comments of “You can afford it….”, “…..on the money you get”, “I know what you’re on”. You need to combat these head on with the interim managers tale of woe.

Let people know that while it may appear a lot of money of the face of it, you shouldn’t just compare it to a salary for the following reasons:-

– You don’t get paid for holidays or bank holidays, so maybe 10-15% of the cost is there.

– You don’t get any sick pay so the average person will have a week of per year so 2-3% there.

– You no longer get sent on training courses so not only do you have to take yourself away for a couple of weeks a year, you have to fund yourself. 10%

– You have a short term contract and so in an average year will spend 8 months working and 4 months dedicated contract hunting 33%

– You have no employee benefits 5%

– You have to pay your own NI employers contribution 18%

– There is no contributory pension scheme 10%

All of which adds up to 94% of costs to take off your day rate. So yes they may know what you get, however after costs your £500 day rate is actually £30 a day, and less than minimum wage. If that doesn’t work remind them “It isn’t about cost, it is about value!”

– The Day Rate Gigolo