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Keifa

To sub or not to sub?

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What's people's views on going as a subbie? If I earn £120 per day employed with all the benefits and security is it worth subbing for £150/160 per day? I haven't been self employed in this industry before but am getting offered days all the time any advice or your personal experience would be useful.

Thanks peeps.

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1 minute ago, Keifa said:

What's people's views on going as a subbie? If I earn £120 per day employed with all the benefits and security is it worth subbing for £150/160 per day? I haven't been self employed in this industry before but am getting offered days all the time any advice or your personal experience would be useful.

Thanks peeps.

Unless you love paper work don't forget to factor in a good accountant .

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It gives you more freedom, but less security. 

 

I went self employed 10 years ago and don't think I could ever go back to being employed. Love the freedom and flexibility but it is harder work than being employed...

 

If you are driven, organised and good at networking you can will be succesful. If you aren't stick with the dayjob!

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£120 a day on the books is worth £180 plus as se. 

 

One of the positives of subbing is getting to work with different people. 

 

Also depends on how much you like where you work at present. 

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1 hour ago, Keifa said:

What's people's views on going as a subbie? If I earn £120 per day employed with all the benefits and security is it worth subbing for £150/160 per day? I haven't been self employed in this industry before but am getting offered days all the time any advice or your personal experience would be useful.

Thanks peeps.

 

Is that 120 after tax, ie take home of £600/week? You need to work the numbers pre/post tax really, but if it's 120 take home vs 160 SE then i'd say definitely no.

 

Also, work out the loss in paid holidays, etc. The SE day rate needs to be significantly more than your PAYE rate to be worth it, more than you think.

 

And as others have said, there's no safety net, no guarantees, no holiday or sick pay, factor in accountancy costs. It can be a good way and can be tax-efficient if you're buying your own equipment and travelling a lot (fuel costs) but you need to take that all into account.

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There is a lot to factor in like kit, holiday pay, sick days, the extra kit, replacing the kit etc. 

 

Working with different companies, freedom to travel to different areas for short term works etc, though alot depends on your personal situation - kids mortgage etc. 

 

Having a solid network is key. Good contacts with other companies and other subbies, machine operators etc, and its also easier to start picking up and planning in your own jobs if that's where you want to go with it.

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If you are employed full time with one firm then stick to it but if your part time with a couple of firms you can be employed and self employed 

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