A Tale of Two Contracts

Legal Eagle

Contracts

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Fergal:

Fergal is an IT professional with in-demand technical skills; he agreed to tell me about his industry. He spoke to me about `contractors` who are deployed in the IT industry with a contract of employment. The IT industry has for many years recruited `contractors` and they are not entitled to sick pay, paid holiday or pension. However, they enjoy a lot of flexibility and secure excellent wages.

Fergal (who has never worked as a `contractor`) told me `contractors` typically spend between one month and several years working on projects. The number of hours worked is usually in line with permanent staff around 37 hours per week but overtime pay is common.

I asked Fergal about the wage a `contractor` can secure:

A `contractor` undertaking the type of work I carry out (in my permanent role) might expect a daily rate of £350-£500 per day. But some could earn in excess of £1K a day. This would typically be London based and only if the `contractor` has very high in-demand skills, a `contractor` with comparable skills to myself could make excellent money though rates have declined in recent years.  Read more of this post

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