@wonkyu Agree, you work 44 weeks a year after accounting for all mandatory types of leave.
Add a couple weeks buffer between contracts and it drops down pretty quickly.
At the same time if you never take leave and want cash in hand and have stable contracts it gives a fair bit extra.
@psalm9 Not really. 1k/day contracting gig, after taking 4 weeks annual leave, 2 weeks sick leave, 10 days public holidays, you are still earning 205k/year (if including super its 225k). Usually people who can get a 1k/day contracting gig will not be able to get a 205k permie role. They would probably get 150k or 160k as permie.
Contracting almost always ends up paying more. Otherwise no-one would do it.
@accelerator How would annual and sick leave be taken if you were under a contract type role? I’m confused as these types of calculations seems to suggest that u can take leave despite not being entitled to them, and then come back afterwards and continue the work.
Do you just take it and expect no pay during the period, or does taking these leaves mean you violate the terms of ur contract and terminates ur employment completely?
@faithfilms09 It's unpaid leave. You just tell your boss that you won't be available on certain days. Most companies are fine with you taking time off during your contract, but you should double check that with the recruiter before accepting a role. And read the contract.
@faithfilms09 Only real con is 2 and others depend on you:
1) if you are good, I have contracted for many years in places outlasting permies
3 and 4) depends on arrangement but you should not work overtime. You are paid by nbr hours
@faithfilms09 My wife has been a contractor nearly all of her working life. It always works 25% better off after tax to contract.
Only other con we've noticed is some employees are limited to how long you can contract with them for. So the work may be there, they will be really happy with you and my wife will love the company/job/project. But at 2-3 years that's it, they have to show you the door or they'll try and make you permanent (for much lower pay. ) so my wife just leaves and sometimes takes a break and they usually hire her back within a year at better pay.
@faithfilms09 It truly depends on what the organisation you contract for offers.
I left stable full time work to contract, my current (fixed term) contract includes sick & annual leave & minimum termination provisions if either they or I wish to leave before the fixed term ends.
It truly depends on what you can negotiate & if the company are happy to oblige.
@khype I use 220 billable days per year as a rule of thumb. That includes about 20 work days a year off. Multiply by my daily rate and see if it is worth it
