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UK Interim Day Rates Can Be Cheaper Than FTC/PAYE Contracts
There is a common myth that employing contractors on a fixed term contract basis (FTC/PAYE) is a cheaper way of filling the gap. Our cost breakdown illustrates how cost effective a professional interim on a day rate basis can be.
Interim Contracts Cost Analysis
Figures are based on a typical package for a 12 month mid-level interim communications or marketing manager, working 219 days in the UK. |
Weekdays in a year | 261 |
Annual leave | 25 |
Bank holidays | 8 |
Training days | 2 |
Sick days | 7 |
Total number of working days | 219 |
Interim Day Rates Cost
Day rate | £300 |
Total cost (219 days x £300) | £65,700 |
FTC/PAYE Cost
Salary | £50,000 |
NI contribution (13.8%) | £6,900 |
Car allowance | £5,000 |
Bonus scheme (10%) | £5,000 |
Pension (5%) | £2,500 |
Medical insurance | £1,500 |
Life assurance | £100 |
Total cost (219 days) | £71,000 |
Whether it’s a maternity cover contract or a critical transformation programme, we support companies large and small with experienced, proven interims for their communications and marketing teams. Short-term or long-term, full-time or part-time, we have the network to support any brief.
If you would like to discuss your interim hiring requirements, please contact Matt Gibbs.