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Great Guy

Job offer. What would you do?

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I work as a civil engineer. At the moment I'm "self employed" and working away from home. I only get home at weekends and my social life is poor... However the money is good....

Ive been offered a job about twenty minutes from my house. It's salaried and it's fairly rubbish money. I'd guess I could earn the same in 4 or 5 months being self employed as I'd earn in a year with this job.

What would you do? I've basically got to decide what's more important, money or lifestyle. I also can't help thinking I could work 6 months a year being self employed then take 6 months off... And still earn more money than being a salary monkey.

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3 minutes ago, Great Guy said:

I work as a civil engineer. At the moment I'm "self employed" and working away from home. I only get home at weekends and my social life is poor... However the money is good....

Ive been offered a job about twenty minutes from my house. It's salaried and it's fairly rubbish money. I'd guess I could earn the same in 4 or 5 months being self employed as I'd earn in a year with this job.

What would you do? I've basically got to decide what's more important, money or lifestyle. I also can't help thinking I could work 6 months a year being self employed then take 6 months off... And still earn more money than being a salary monkey.

Bingo

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One thing is to price up the costs associated with being away.  (depending on your lifestyle this might include) getting gardener to do stuff, mending things around the house, etc.

Another is to price up 'other things you could do with your time' -- put a value on your social life (sort-of how much you'd pay for it if you had to).

Also, remember to calculate as take-home pay (after taxes and costs) rather than the headline figure.

I suppose I should add that I'd see the self-employed option as being better, but I know others that really value the social side of being in an office, etc.  

Edited by dgul

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Hmmm working in a salaried job for shit money is soul destroying. 

Self employed working only six months is about 1000 times better in my opinion.

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Depends a lot on whether your home life is stable, if you are missing out on kids etc. If that is ok would stick with the self-employment and either over-earn or take the time off to set something else up for the longer term. You are buying a lot of time with working away and probably getting more variety and interesting work to boot as a result.

 

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What's your family situation? If you're single I would say keep working away and earn the money while you can.  If you're settled with a youngish family I would say take the job at home and spend more time with them.

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1 minute ago, sarahbell said:

Do you want to be at home all week? 

 

Tbh, I stay in a flat and that prevents me pursuing things I want to do (keeping bees for one). I think a couple of weeks in a flat would be a bit dull...

However I cant help thinking being a salary slave at rubbish money will be a bit shit.

 

 

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1 minute ago, ILikeCake said:

What's your family situation? If you're single I would say keep working away and earn the money while you can.  If you're settled with a youngish family I would say take the job at home and spend more time with them.

I'm single...

Tbh, I regularly earn more in a week than this job will pay in a month.. Admittedly that's working weekends, but even so... 

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2 minutes ago, Great Guy said:

Tbh, I stay in a flat and that prevents me pursuing things I want to do (keeping bees for one). I think a couple of weeks in a flat would be a bit dull...

However I cant help thinking being a salary slave at rubbish money will be a bit shit.

 

 

Get an allotment and keep bees there.
Or join a local club and find someone who needs a hand and get taught with someone else's bees.

 

1 minute ago, Great Guy said:

I'm single...

Tbh, I regularly earn more in a week than this job will pay in a month.. Admittedly that's working weekends, but even so... 

Don't do the proper job. It'll drive you mad. 
As would an allotment tbh.
 

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What about the 40% tax bracket - does that affect your decision? i.e. why bother earning much more than £45K as a contractor in a year when the gubbermint takes half of it off you.

Salary, relative stability, days off, sick leave, pension contributions - there's more to a permie job than a wage.

I think I'd need to earn over double what I do in my current job per day to make contracting worthwhile, once the increased tax and loss of perks and security kicks in.

On the other hand my brother is a permie Civil Engineer and I know how shite the wages are considering how hard he works and how smart he is. He's still living with the parents at 28 cause he can't afford his own place.

Edited by JoeDavola

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Forgot to mention as you have already earnest at much higher rates and probably more flexibility I think the chances that you'll resent and hate a permie job being very high.

Single as well - take the money. 

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28 minutes ago, JoeDavola said:

What about the 40% tax bracket - does that affect your decision? i.e. why bother earning much more than £45K as a contractor in a year when the gubbermint takes half of it off you.

Salary, relative stability, days off, sick leave, pension contributions - there's more to a permie job than a wage.

I think I'd need to earn over double what I do in my current job per day to make contracting worthwhile, once the increased tax and loss of perks and security kicks in.

On the other hand my brother is a permie Civil Engineer and I know how shite the wages are considering how hard he works and how smart he is. He's still living with the parents at 28 cause he can't afford his own place.

tbh, I whack a lot into my pension so effectively get the 40% tax back... I also found out this week that my company can contribute to my pension and I can offset it against corporation tax...

The salary I've been offered is £27k. It's certainly not an awesome amount of money. In the last 6 and a half months I've "earned" £47k being self employed. Admittedly I have accommodation costs to come off that, but it's still a bucket more than £27k a year.

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6 minutes ago, Great Guy said:

tbh, I whack a lot into my pension so effectively get the 40% tax back... I also found out this week that my company can contribute to my pension and I can offset it against corporation tax...

The salary I've been offered is £27k. It's certainly not an awesome amount of money. In the last 6 and a half months I've "earned" £47k being self employed. Admittedly I have accommodation costs to come off that, but it's still a bucket more than £27k a year.

Feck me, 27K for someone with good skills and qualifications. that's taking the P.  

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1 hour ago, sarahbell said:

Get an allotment and keep bees there.

Get a flat with a second bedroom and keep the bees there. If anyone complains say it is your religion, you are an Myarian or something.

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One suggestion - if the place where you work on contract is almost always in the same area, you could buy something near there and make it a little "home away from home" that is more to your liking, plus rent it out on AirBnB or whatever for the weekends when you aren't there.

9 minutes ago, One percent said:

Feck me, 27K for someone with good skills and qualifications. that's taking the P.  

Marketplaces are shit, eh? :P

 

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18 minutes ago, Great Guy said:

tbh, I whack a lot into my pension so effectively get the 40% tax back... I also found out this week that my company can contribute to my pension and I can offset it against corporation tax...

The salary I've been offered is £27k. It's certainly not an awesome amount of money. In the last 6 and a half months I've "earned" £47k being self employed. Admittedly I have accommodation costs to come off that, but it's still a bucket more than £27k a year.

Yeah that's about what my brother's on....first class masters degree, 5 years experience, very hard working bloke. It's a crappy wage.

If you can earn the equivalent of £100K contracting and working hard, don't take a £27K permie salary until you have to. With those figures I'd stay as a contractor.

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Yeah Civil Engineering salaries are generally poor...

The place where I work pays graduates £18k.... It's in an expensive part of the UK as well.

Most civil engineering salaries will plateau at about £40 - 45k. It's OK money but nothing special.

No wonder women don't want to be engineers!

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2 minutes ago, JoeDavola said:

Yeah that's about what my brother's on....first class masters degree, 5 years experience, very hard working bloke. It's a crappy wage.

If you can earn the equivalent of £100K contracting and working hard, don't take a £27K permie salary until you have to. With those figures I'd stay as a contractor.

That salary is really going to pay off the student loan.  Who says that work pays.  It clearly does not...

1 minute ago, Great Guy said:

Yeah Civil Engineering salaries are generally poor...

The place where I work pays graduates £18k.... It's in an expensive part of the UK as well.

Most civil engineering salaries will plateau at about £40 - 45k. It's OK money but nothing special.

No wonder women don't want to be engineers!

Mind, I'm in a job that requires very high level qualifications and the plateau is similar...  Makes you wonder at times whether it is worth getting out of bed for.

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4 minutes ago, Great Guy said:

Yeah Civil Engineering salaries are generally poor...

The place where I work pays graduates £18k.... It's in an expensive part of the UK as well.

Most civil engineering salaries will plateau at about £40 - 45k. It's OK money but nothing special.

No wonder women don't want to be engineers!

My permie engineering job is just under £40K but it's low stress, secure, lots of leave, and a very good pension. If I was back in a stressful permie job at that money and without the perks I'd definatley go down the contracting route - might as well earn the big money for working my arse off.

Edited by JoeDavola

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2 minutes ago, JoeDavola said:

Yeah that's about what my brother's on....first class masters degree, 5 years experience, very hard working bloke. It's a crappy wage.

If you can earn the equivalent of £100K contracting and working hard, don't take a £27K permie salary until you have to. With those figures I'd stay as a contractor.

What does your brother specialise in? For Civil Engineers the money is in the Middle East. I was offered a salary of £100k (tax free) in Qatar. I stupidly turned it down :( 

 

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