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. However, 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
Supporting Your Interim Hiring Needs
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. For more information, visit our LinkedIn page.
