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60% of IT Contractors Are Stressed

The IT contracting world is a real happening place to be. Jobs are plentiful and the pay packets are more than generous.

You would think IT contractors would be jumping around for joy and lining their pockets, but in fact, the exact opposite is true.

According to a new survey there is 60% of IT contractors in the UK who are stressed out and fed up. So much so, that almost 20% are considering leaving the industry behind altogether and never going back.

35% of those surveyed said that they have become more stressed over the last 12 months, which might give us a clue to exactly what is going on here.

Perhaps the tide is turning in the IT contracting industry and the good times are coming to end? Competition could becoming more fierce and the wages might be dropping a bit?

Who knows exactly, but what I hear from my contractor accountant buddies is that times have never been better.

According to them, they have many IT contractors on their books who are raking in the cash and want to (legally) pay the least amount of tax possible.

Sure, these IT contractors want to pay their tax and contribute towards society, but they don’t want to get ripped off and they don’t want to get taken for a ride.

Not when you have these 7 figure playboys swanning around in Monaco and paying no tax at all, while your average IT contractor is stuck here.

So that is why they hire a contractor accountant to fight their corner and to make sure they pay the right amount of tax. No more, no less.

Back to the survey, and 51% of those stressed out IT contractors did admit that their earnings do offer some kind of compensation for the stress they feel.

In other words, they might not be enjoying their job, but when they can afford a brand new sportscar, a brand new Rolex, or a holiday to the Bahamas…then it goes some way to relieving that stress.

Kind of like of pressure cooker which has been building up steam…and building up and building…and then building up some more…and a bit more…and then…

“Woosh!” All of that steam is released and the stress is released.

The survey goes on to tell us that an average IT contractor works for 44 hours per week, which is above the national average of 37.1 hours.

It is App and Web Software contractors who put in the most hours, followed closely by hosting professionals and IT customer service professionals.

The good news is more and more IT contractors are working remotely, which means they can work from home and put their feet up a bit more.

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