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.
