3 ms·

The days of UK software contractors being paid £115 per hour are long gone

pc86 4y ago
Because it's much more or much less? I'm guessing by the GP assuming 10 days/year of vacation they're in the US. $115/hr is a decent contractor wage, especially on the more independent/freelance side of the spectrum. "Contractors" hired from companies in a C2C arrangement will be billed much higher, at rates approaching senior associates at law firms (I've seen $400/hr bill rates for senior Oracle contractors who aren't even coding, just implementing and configuring), while the people you're getting are earning anywhere from $30-150/hr, but via W2. I'm in the US and bill $90/hr on a long-term contract because the work is easy and I am free to do anywhere from 0 to 30 hours a week at my discretion. So there are lots of reasons to willingly bill (sometimes much) less than you otherwise might.
toxicFork 4y ago
Depends on your specialisation ;)
JAlexoid 4y ago
I'm pretty sure I can get 800+p/d in London. Almost 10 years ago Barclays was paying my 600p/d
- Nextgrid 4y ago
  Inside or outside IR35 for the 800 figure?
  - JAlexoid 4y ago
    Outside
- cosmodisk 4y ago
  The problem is that you are likely to see very similar rates even after all those years.
  - JAlexoid 4y ago
    Oh yeah. The rates haven't risen drastically. But GBP100 p/h isn't unattainable
    - cosmodisk 4y ago
      Of course all depends on the skills required, but yes, those rates are doable.
- Silhouette 4y ago
  The current going rate for general software development for London banks is around £750-800 per day via an umbrella company. Depending on a few details that works out equivalent to maybe £650 per day for a real (outside IR35) contract position. I haven't heard of anyone other than the most senior and well connected taking home £800 outside IR35 for software development in the financial services industry since the changes to the off payroll rules. Obviously there are exceptions like quants but that's playing a different game really.

pc86 4y ago

Because it's much more or much less? I'm guessing by the GP assuming 10 days/year of vacation they're in the US. $115/hr is a decent contractor wage, especially on the more independent/freelance side of the spectrum. "Contractors" hired from companies in a C2C arrangement will be billed much higher, at rates approaching senior associates at law firms (I've seen $400/hr bill rates for senior Oracle contractors who aren't even coding, just implementing and configuring), while the people you're getting are earning anywhere from $30-150/hr, but via W2. I'm in the US and bill $90/hr on a long-term contract because the work is easy and I am free to do anywhere from 0 to 30 hours a week at my discretion. So there are lots of reasons to willingly bill (sometimes much) less than you otherwise might.

toxicFork 4y ago

Depends on your specialisation ;)

JAlexoid 4y ago

I'm pretty sure I can get 800+p/d in London. Almost 10 years ago Barclays was paying my 600p/d

Nextgrid 4y ago
Inside or outside IR35 for the 800 figure?
- JAlexoid 4y ago
  Outside
cosmodisk 4y ago
The problem is that you are likely to see very similar rates even after all those years.
- JAlexoid 4y ago
  Oh yeah. The rates haven't risen drastically. But GBP100 p/h isn't unattainable
  - cosmodisk 4y ago
    Of course all depends on the skills required, but yes, those rates are doable.
Silhouette 4y ago
The current going rate for general software development for London banks is around £750-800 per day via an umbrella company. Depending on a few details that works out equivalent to maybe £650 per day for a real (outside IR35) contract position. I haven't heard of anyone other than the most senior and well connected taking home £800 outside IR35 for software development in the financial services industry since the changes to the off payroll rules. Obviously there are exceptions like quants but that's playing a different game really.