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I just moved back into consulting from a few years contracting. 2 major variables are:
- the role / project scope
- Inside or Outside of IR35
Don’t underestimate the amount of admin you need to complete each month to run your own business. Also, whilst the daily rate may look appealing at face value, make sure from a comparison perspective that you include all of your B4 income (pension, bonus, car allowance etc)
I would just reach out to contracting recruiters with your CV and ask them what you can command in the market
I’m a hybrid BA/Analytics Consultant Contractor. Day rate is £650 on my first gig, inside IR35, take home is £4.4K a month but I’m only doing 3 days a week to focus on some other stuff. 4.5 YOE for reference
Trying to figure out what a good daily rate should be if I move into contracting. I see roles that offer £700 a day but I don’t know if I should be looking for more
What do you actually do? Most non tech contracting is BA/PM work, when it isn't there isn't a huge volume of it.
The £700 day rate sounds reasonable. More could be possible. I reckon £600-£800 is feasible for you.
My recommendation is reach out to recruitment consultants and ask them how much they reckon they can place you for. Good luck!
Rate differs depending on several factors, examples:
- Which tier consulting firm you worked for (MBB, Boutique Strategy Houses, then Big Four)
- Experience and position
- Client: PE vs Corporate vs Start-Up
- Project Length
- Industry
F