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humble_pie

Day for an Electronic Engineer having 9 Years of Experience

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I graduated with BENG Hons in Electronics about 9 years ago. I been mainly working on payee roles so far. Now I am thinking of doing contracting. I cannot figure out what sort of daily rates I can demand. I am based in London. Have wide range of experiences in my field and a lot of past roles to backup my claims. 

I have experiences in Electronics, embedded, pcb and firmware development.

So just wanted to get other peoples views on this.

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Can you look at what agencies are offering for such roles?     Maybe estimate the amount of time you'll be in work and out of work (if thats possible) and set you rate the same as your present salary is per day but bumped up to at least cover those nonworking periods.

If you get it too low you can always nudge it up for the next contract as each is presumably only temporary anyway.

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2 hours ago, humble_pie said:

I graduated with BENG Hons in Electronics about 9 years ago. I been mainly working on payee roles so far. Now I am thinking of doing contracting. I cannot figure out what sort of daily rates I can demand. I am based in London. Have wide range of experiences in my field and a lot of past roles to backup my claims. 

I have experiences in Electronics, embedded, pcb and firmware development.

So just wanted to get other peoples views on this.

Have you checked out some of the job sites? I used to use jobsite.co.uk quite a bit when I was looking for contracts.

https://www.jobsite.co.uk/

You can filter on contracts, so you can get an idea of daily rates. There may be much better sites now given how quickly the web changes.

However, since you're switching from employee work to contract work it means you have no contracting experience. So my advice would be to not expect too much in terms of a daily rate for your first contract. Once you've got 6 months under your belt, either as a single stint or 2 shorter ones, you will be in a much better position.

Whether you contract direct or through an agency, you need to be aware of IR35, and of course you have to handle all your own taxes so you'd probably want to set up a ltd company and get an accountant. I didn't do that initially, and can confirm it is a lot less hassle to do it from day 1!

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17 hours ago, longgone said:

strange first post . sure you are on the right forum 🙄

Yeah I agree with that, how are we supposed to know what is hot and what is not in EE.

 

In I.T. contracting there is a massive range of rates, depending on skill.

 

Why don't you look at job boards?  Enough post rates to at least give you an induction.

 

One piece of advice is I don't think contracting would be worth your while unless you can get more than £300 per day.  Assuming you want to build a warchest, pay into a pension, by able to take holidays during your contacts.

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18 hours ago, longgone said:

strange first post . sure you are on the right forum 🙄

I didn't realise that was a newbie post. One of the reasons I avoided London in the end was because I refused to live in a dump and didn't want to pay the crazy accommodation prices. Now I wouldn't contract in London at any rate, but £300 a day is definitely not even close. You'd want to clear that after accommodation costs.

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On 31/01/2019 at 14:46, humble_pie said:

I graduated with BENG Hons in Electronics about 9 years ago. I been mainly working on payee roles so far. Now I am thinking of doing contracting. I cannot figure out what sort of daily rates I can demand. I am based in London. Have wide range of experiences in my field and a lot of past roles to backup my claims. 

I have experiences in Electronics, embedded, pcb and firmware development.

So just wanted to get other peoples views on this.

Can you programme FPGAs? Some good rates in finance for those using that particular technology.

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I'm BEng Electronics also and have done some contracting in the past few years at £30 to £40 an hour.

That's mostly PCB layout, electronic design and a bit of coding.

I'm based in Northern Ireland so add another tenner for London I'm guessing.

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On 01/02/2019 at 18:52, reddog said:

Yeah I agree with that, how are we supposed to know what is hot and what is not in EE.

 

In I.T. contracting there is a massive range of rates, depending on skill.

 

Why don't you look at job boards?  Enough post rates to at least give you an induction.

 

One piece of advice is I don't think contracting would be worth your while unless you can get more than £300 per day.  Assuming you want to build a warchest, pay into a pension, by able to take holidays during your contacts.

Agree. There are costs to contracting, even things like equipment and travel can be treated differently depending on the contract.

I knew RF Engineer’s on £60k in the late 1990s, which is probably circa £300 per day. There is a skills shortage now and IOT is in vogue, so I’d suggest going for more. May be £450 is a reasonably competitive start. I know some of my IT resellers partners charge £700 per day, but that is short term installation. The big guys often get closer to £1500 per day, but they have to pay layers of management. 

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  • 295 Brexit, House prices and Summer 2020

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