Dream job | Page 6 | GTAMotorcycle.com

Dream job

I worked for a consultant for about 5 years and when we got sent to a client office many times I asked:
‘You’re paying my company 2.4-3.0x my salary for me to be here, why not just pay me 1.3-1.5x to work for you full time?’
Answer
‘Because once this job is done I don’t have to deal with looking for a new role for you, and you go back and you’re the company’s problem not mine. Plus after benefits, pension, etc it’s cheaper this way.’

and while it hurt, it was not said with any negative connotation or malice. It’s just the way of business. Once I understood that part, I’m no longer hurt by it. Funnily enough I work on the client side now, and we hire consultants to do the same thing I did before but in a different capacity. Still a weird concept.

If I could whore myself out at 1.5-2x my salary for doing this job, I’m on board. I can deal with my pension and benefits. Plus there are perks for working on your own.
 
mimico_polak said:
I worked for a consultant for about 5 years and when we got sent to a client office many times I asked:
‘You’re paying my company 2.4-3.0x my salary for me to be here, why not just pay me 1.3-1.5x to work for you full time?’
Answer
‘Because once this job is done I don’t have to deal with looking for a new role for you, and you go back and you’re the company’s problem not mine. Plus after benefits, pension, etc it’s cheaper this way.’

and while it hurt, it was not said with any negative connotation or malice. It’s just the way of business. Once I understood that part, I’m no longer hurt by it. Funnily enough I work on the client side now, and we hire consultants to do the same thing I did before but in a different capacity. Still a weird concept.

If I could whore myself out at 1.5-2x my salary for doing this job, I’m on board. I can deal with my pension and benefits. Plus there are perks for working on your own.
Click to expand...
Just become an independent consultant.
 
Evoex said:
Just become an independent consultant.
Click to expand...
Once I get my PMP and PENG I’m going to try that route. Talking with others here I feel like I know nothing lol as their experience is huge. But I think I can wiggle out a niche for myself.

EDIT: not sure if it’s worth incorporating or not though. As tax will always be an issue.
 
mimico_polak said:
Once I get my PMP and PENG I’m going to try that route. Talking with others here I feel like I know nothing lol as their experience is huge. But I think I can wiggle out a niche for myself.

EDIT: not sure if it’s worth incorporating or not though. As tax will always be an issue.
Click to expand...
Incorporate for many reasons. Hire your wife and kids to split income. Fire barrier to protect assets if you screw up. Move your tax year to allow for disbursing bonuses around if you are having good and bad years.

All of my doctors are Dr. Mudd Corporation or similar. A lawsuit can only go after their business assets. They keep the house, cottage, RRSPs and personal investments.
 
mimico_polak said:
Thanks @nobbie48 will look into it. Don’t even really need it for a while but any side income can go into that kitty.

Buddy making ~300k/year does that. Cars, phones and everything is under the Corp and he pays himself 50k or so to lower his income tax.
Click to expand...

I do something similar with all the contract work. They hire the "entity" and I get paid out through that minus my expenses

Only issue I came across was insurance and financing vehicles but a new agent fixed all this
Good luck
 
If you get involved in any business where there is any remote possibility of being part of a lawsuit , be a limited company. And insured to the tits.

You spec'd 10mm rebar, they installed 3/8 (9.25mm) , the roof falls in. Not your fault at all , but your named in the suit and the legal bills to be found not at fault can go into the thousands quickly. Insurance is cheap.
 
crankcall said:
If you get involved in any business where there is any remote possibility of being part of a lawsuit , be a limited company. And insured to the tits.

You spec'd 10mm rebar, they installed 3/8 (9.25mm) , the roof falls in. Not your fault at all , but your named in the suit and the legal bills to be found not at fault can go into the thousands quickly. Insurance is cheap.
Click to expand...

I did not know this :|
 
mimico_polak said:
If I could whore myself out at 1.5-2x my salary for doing this job, I’m on board. I can deal with my pension and benefits. Plus there are perks for working on your own.
Click to expand...

If I was young and healthy and didn't have kids that required expensive dental and optometry work, I'd totally go the contractor route.

A lot of the FT benefits are wasted on people who don't need them. Better to take the cash in salary instead.
 
Lightcycle said:
If I was young and healthy and didn't have kids that required expensive dental and optometry work, I'd totally go the contractor route.

A lot of the FT benefits are wasted on people who don't need them. Better to take the cash in salary instead.
Click to expand...
I’m paying for benefits I almost never use.

Massage - 2/6 times per year
Chiro - 2/14 years I’ve used it
Nutritionist - never used
Dental - yes
Medication - 2-3 times per year for the wife, none for me
Optometrist - 250/2 years is a joke

I messed up because when I had my last job I increased our plan and my wife was able to get $2500 for her Invisalign instead of $500. My mistake was not also doing it. Increase payment by 500/year and get an extra 2k towards that procedure.
 
george__ said:
Exactly what's happening here and they think I am a magician that can do the work of a team for a crappy salary

Thanks COVID
Click to expand...

Step 3 is actually a pretty good position you'd want to be in (greenfield projects, and they're likely open to change after #2 rammed them in the butt.)

I'd avoid companies that are in step 2 because some don't make it out due to technical ineptitude.

Lightcycle said:
If I was young and healthy and didn't have kids that required expensive dental and optometry work, I'd totally go the contractor route.

A lot of the FT benefits are wasted on people who don't need them. Better to take the cash in salary instead.
Click to expand...

I actually use all my benefits lol

Getting old and pushing limits = stuff breaks. Aging sucks dick.
 
george__ said:
I did not know this :|
Click to expand...
It's even worse than that. A friend does fire protection. One ahole builder was unhappy about structural issues in his building (imo unwarranted and he was just an ahole that wanted to save money). He sued everybody involved with the project including my buddy even though there was never an issue with fire protection. As required by his policy, he notified his insurance company. They asked the builder how much, he said very low five figures and they cut a cheque. It was cheaper and easier for them than even thinking about defending against the obviously frivolous lawsuit. Then my buddies rates spiked as he had been sued and lost. Infuriating.
 
mimico_polak said:
Thanks @nobbie48 will look into it. Don’t even really need it for a while but any side income can go into that kitty.

Buddy making ~300k/year does that. Cars, phones and everything is under the Corp and he pays himself 50k or so to lower his income tax.
Click to expand...

If you incorporate a side business, MP services, the business tax rate is 15% IIRC. If you don't touch it, it's a bit like an RRSP, you only get personally taxed when you cut yourself a dividend cheque. However the money is fair game in a lawsuit. If there is a work slowdown and your income drops you take out the money in the bad years.

I don't know if they've clamped down on companies having multiple side corporations. Start a management company to manage your prime company and send them all the profits. Pay lawyers and accountants. Offshore accounts etc.

Remember that every sword has a second edge. Also if there is negligence that may jump a fire barrier.
 
GreyGhost said:
It's even worse than that. A friend does fire protection. One ahole builder was unhappy about structural issues in his building (imo unwarranted and he was just an ahole that wanted to save money). He sued everybody involved with the project including my buddy even though there was never an issue with fire protection. As required by his policy, he notified his insurance company. They asked the builder how much, he said very low five figures and they cut a cheque. It was cheaper and easier for them than even thinking about defending against the obviously frivolous lawsuit. Then my buddies rates spiked as he had been sued and lost. Infuriating.
Click to expand...

Years ago my lawyer told me it was $10 K for him to dress for court. Then the outcome often depended on the bias of the judge or the opposition pulling a rabbit out of a hat. Very few cases were slam dunk.

I can see the insurance settling out of court and that was what the builder was banking on. Hopefully the principals of the offending company get the appropriate aftermath on future jobs.
 
nobbie48 said:
Years ago my lawyer told me it was $10 K for him to dress for court. Then the outcome often depended on the bias of the judge or the opposition pulling a rabbit out of a hat. Very few cases were slam dunk.

I can see the insurance settling out of court and that was what the builder was banking on. Hopefully the principals of the offending company get the appropriate aftermath on future jobs.
Click to expand...
Hopefully, you figure he got low five figures from every consultant on the job minus some fees for the lawyer to file and the builder probably ended up with low six figure payday for being a slimy prick.
 
GreyGhost said:
Hopefully, you figure he got low five figures from every consultant on the job minus some fees for the lawyer to file and the builder probably ended up with low six figure payday for being a slimy prick.
Click to expand...
Unfortunately this is most likely the case.
‘How much you figure they’ll give up without a fight?’
‘30-50k’
‘Ok. Lawyer up.’
 
george__ said:
Cleaners come about once a month here

But I think the boss did increase it to twice?

Definitely not daily... Nobody is being paid to wipe stuff down every x minutes with a record.

Got back at least 20 rejection letters this week :(. At least some of my stocks went to the moon
Click to expand...
Foggers come in 2x a week +anytime we have a confirmed case.
We hired 10 more cleaners that only wipe down high touch surfaces.

Sent from my Pixel 3a using Tapatalk
 
You must log in or register to reply here.

Back
Top Bottom