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I worked in a factory for a few months as a temp and a bunch of my co-workers that had been with the company for years had this exact thing happen to them, a few years after the 2008 crash. I believe it was a little different in that people were asked to take the change in their classification or leave, rather than being let go and then hired back separately. I know engineers that work outside of software that had to…
Furlough
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> end up with that "soft-ish" landing the Fed was talking about That narrative died months ago. At this point the odds of a recession are much higher than a 'soft-landing'.
Everyone beliving in soft landing all that matters. Economic fundamentals don't matter in this decade if you don't know.
It’s funny how in Sweden it’s exactly the other way around: Coming back as a (self-employed) contractor is like hitting the jackpot, you typically double your pay. Companies here even have policies to prevent employees switching over to contracting (for the same company). You have to work for some other company for at least a year.
Is it because of the tax structure? Care to elaborate?
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Employees have basically no rights at all in the US. We started the labor movement, and have completely given up all rights over the last 70 years. It's a shame really.
If you really don’t know about your rights as an employee, you should be aware that US workers have many rights guaranteed by law. Not as much protection as west Europeans, maybe! But the other side of the coin is that it’s so much easier to get hired, or start a business in the US. https://www.dol.gov/agencies/whd/workers
And that's before we get into intentional understaffing and industry capture of the US Department of Labor.
https://www.vice.com/en/article/xgdejj/amazon-repeatedly-vio...
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Nobody in America has a pension, and half the people who think they do are in for a rude surprise later on. Boeing phased out their pension eligibility back in the mid 00’s as I recall.
Exactly around the time the GP was laid off and brought back as a contractor. I have a pension. It's guaranteed because it's a state government job and state governments in the USA are constitutionally forbidden from abrogating contracts (the Contract Clause, yeah, sure, there are exceptions, but this is unlikely to be one of them). To fund it they spend 23% of my salary (some taken out of my salary, some additionall…
However if government pensions did go belly up you’d see the use of QE, which will cause inflation, at which point they are still giving you the promised thousands a month but they aren’t enough to live on, and fuck everyone else over at the same time.
It’s funny how in Sweden it’s exactly the other way around: Coming back as a (self-employed) contractor is like hitting the jackpot, you typically double your pay. Companies here even have policies to prevent employees switching over to contracting (for the same company). You have to work for some other company for at least a year.
In Seattle going as contractor means making $150k instead of $300k. Does contracting in Sweden pay double? $600k? Or as a contractor you make half what Seattle contractor is making.
Contract work virtually always pays much more than full-time on an hourly basis, since now you've got to cover your own health care, social security, and so forth. And then on top of that you're charging more because there's no security.
The whole exchange you make for full-time employment is to be paid less than short-term contracts, in exchange for greater stability.
How does this pass the shadow employee smell test?
Because you are an employee, but of the consulting firm. I guarantee that the consulting firm is getting a lot more for your time, than they are paying you. This is becoming a lot more common, these days. In many cases, doing this, is a good way to enter as an FTE, because the employer does a "try before you buy." I have a couple of friends that landed great FTE jobs, this way. However, that is only if you are going…
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I came here to say the same. In the UK you can't be made redundant if there is other work you could do at the company. Also in the UK contractors are paid a lot more than full time staff!
Are you sure about that? My understanding was that the role is made redundant, not the person; that you can't hire someone else to do what a made-redundant person was just doing (of course it pretty much happens, but on paper/in theory it needs to be different). I don't really see how it makes sense for both to be true. And in your scenario, wouldn't voluntary redundancy get really weird? 'Denied - because you're qua…
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Certainly industry dependent. OP is about 'big tech' though, not finance (proper fintech aside I suppose). I think 'contractors are paid more' generally (and in fairness somewhat necessarily) ignores that it's to compensate for other employee benefits. But it's ultimately a kind of pointness/trivial truth - 'the value of holiday and sick leave and job security and life assurance and pension contributions and [...] is…
It’s also true in general tech once you get to director or senior manager grade your short and long term incentive plans can be 50% of your BP and your BP isn’t going to be too shabby either. Contractors do get paid more but they don’t earn more at least not anymore after IR35 since they have a tax rate that is over 50% as they are also liable for the 15.5% employer national insurance contributions now. Overall contr…
I have seen mid level jobs where the contractor is paid twice what the full time staff are, no bonus on either side.
Your point about long term incentives is very dependent on company. I wish I had a scheme like that!
It’s funny how in Sweden it’s exactly the other way around: Coming back as a (self-employed) contractor is like hitting the jackpot, you typically double your pay. Companies here even have policies to prevent employees switching over to contracting (for the same company). You have to work for some other company for at least a year.
In Seattle going as contractor means making $150k instead of $300k. Does contracting in Sweden pay double? $600k? Or as a contractor you make half what Seattle contractor is making.
I quit my $60k CTO job and they paid me $140k to stick around as a contractor. Most
$300k is CEO of a large company salary in Sweden. The prime minister earns around $200k.