If you're good at it, AP beats every other job I could imagine. You organize your own working hours, you do it from the comfort of your home and it's stress free (if done properly). There's nothing that can beat that.
However, seeing how you're doing this for years and you haven't done US books, I'd say you've been very inefficient with your time and effort, and you're nowhere near maximizing your profits. And that's just what you need to do if you're gonna rely on this as your main source of income. Doing an offer here and there when they pop up is fine if this is a hobby for you, but it'll get you nowhere if you go full time. I'd say start getting into some riskier offers (assuming you'll have enough info and brains to calculate the risk/reward factor the way it suits you) and arbing, and once you find that time is the single most limiting factor in your profits, then consider going full time, but not before.
brilliant thread - sadly i dont have anything else to add.
Some good news !
Having taken on board what you all advised I figured it was better to try to maintain some income so after an intense day of negotiation I have thrashed out a deal to stay in my current job part time, 16 hours a week (Down from 30). My net income after taking a pay cut but an increase in working tax credit will be £60 per week lower, a figure I'm sure I can make up in 2 extra days of AP.
Thanks to everyone who contributed as before starting this thread I had resigned myself to losing my job as I hadn't contemplated a part time compromise.
Thank you all
You just need to ask yourself one question, do you feel lucky punk?....... Well do ya?
Originally Posted by Stevesharpe
Yeah great news Steve! You'll easily make up that difference and more APing.
"Bomber likes you!" R.I.P. Pat 1937 - 2004
Originally Posted by Stevesharpe
Sounds a good outcome - well negotiated.
Hope all goes well and remember stay patient. If you don't make up the difference in the first week don't go chasing it. Stick with your plan and see how you are doing after a couple of months.
I contract for a living & my very long-term contract at BT ended in April '09. I wanted a year or so off so I effectively ended up AP-ing for a living from that time until December '10. In January I got a new (short-term) contract so my AP has been almost non-existent for large chunks of this year & I've not been on here much.
So here are my thoughts in no order & also probably repeating stuff that's been said already.
- It can definitely get not just boring but also exactly like a job. In fact by this January I was so fed up with AP I actually preferred going back to work (the reverse could well be true at some point but kind of surprising, to me anyway, that work could seem better than AP-ing from home).
- Personally I wouldn't give up a "good" job to AP full time. "Good" meaning anything from good-paying to something you enjoy. However giving up a job you don't care about is much less of a deal IMO.
- Going back to work after a year or more out can definitely be an issue, although I guess it's heavily job-dependent. I work in IT Security & when I left BT in April '09 my CV was tip-top & cutting edge right up to the minute. 21 months later, the newest products I'd used were nearly EOL & there were new versions of everything. Not only that, but every agent I spoke to pretty much advised me to lie about what I'd been doing (FWIW I didn't, I told the truth which was simply that after 10 years non-stop contracting I felt like a break). But the agents at least, all viewed a 21-month break as a problem.
- When I went from part-time AP to full-time AP, my earnings didn't increase anything like as much as you might think. There are lots of factors here. The law of diminishing returns is one. The simple limit to the amount of AP you can stand to do is another: In my case I could easily do a dayjob then do a few hours of AP. However once I was no longer doing the dayjob, I still didn't actually have an appetite for much more than a few hours AP.
- Sustainability: If I depended on AP for a living this would be a big concern for me. Certain things could kill AP at a stroke IMO (one of them being a tax on gaming profits as they have in the US). Even without that, I think bonuses are in decline & the AP landscape becomes more demanding all the time. I think the opportunities are still there but you need to work at it now. The opportunities that require almost no effort (my favourite type) are definitely disappearing.
AP as we know it is dead.
Philosophical, if not entirely accurate. Although that depends on your definitions.
Originally Posted by Tomas
"God is Dead" = Friedrich Nietzsche
Look into what he meant by that. I think you are both making the same point
Have a plan and stick to it
One thing that does annoy me is some people I know thinking I'm a bit of a bum who hasn't got a job. They just don't get the concept of AP and think it's all smoke and mirrors. I feel like telling them to f off. I left school at 16 and worked full time for over 30 years until being made redundant. Everything I have is through my own efforts and I've never asked friends or family to help me financially. I still pay my own way and don't claim any benefits (apart from the first 6 months JSA).
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