Recent reports have shown it could not be a better time to consider working within the industry. One report has highlighted a surge in demand for highly skilled defence and aerospace contractors, in turn this has lead to soaring pay rates for contractors of almost 40% in the last 12 months. Senior technicians are now commanding average pay rates of around £33 per hour.
Aerospace and defence contracts are a tempting career option for many contractors, with public and private clients now happy to pay for the highest calibre of expertise to deal with their ever-increasing complex technologies.
Aerospace contracting will give you the opportunity to have a varied career working for different companies. Contracting will also allow you the chance to build up your skills much quicker than a conventional career, and the financial rewards are not bad either.
Working through an Umbrella Company
Many Aerospace Contractors operate through an Umbrella Company to enjoy the benefits and security of working this way. An Umbrella Company will make payment to you through PAYE (Pay As You Earn) and you will receive a payslip from them in the same way as you would in any other employment. The payslip will show the assignment value, your salary/bonus payment, any deductions made, any statutory payments e.g. SPP and the umbrella company margin.
An Umbrella Company will employ you under an overarching Contract of Employment and will be responsible for raising invoices for the work that you do whilst on assignment, this means that you will not have the worry or costs of setting up and running a limited company.
So if you are thinking about contracting, or if you are already a contractor and using another umbrella company, why not give us a call? We’ll explain everything you need to know about working through Contractor Umbrella.
If you have any questions about working under an umbrella company or would like any further advice, then please call Jaime on 01206 591 000 or email email@example.com.
If you wish to sign up as a contractor with Contractor Umbrella, please complete the simple form below and someone will call you back to talk you through the sign up process.