Which is more cost effective employing a quantity surveyor or 4G consultancy?
The basic salary required to employ a quantity surveyor or estimator is between £50,000 and £80,000, demand is likely to increase the lower end of the salary over the coming years.
Yes bonus!, quantity surveyors and estimators are, in the majority of cases incentivised by substantial bonuses linked to the commercial performance they achieve, these can start at 10% of their salary without an upper ceiling.
Employers national insurance contributions
If you employ a quantity surveyor or estimator on the lower end salary, £50,000, the national insurance contributions will be around £6,500.
Compulsory pension contributions are likely to be in the region of 3%, adding even more to the final cost of a quantity surveyor or estimator.
Private medical cover
An employee will expect a good level of private medical cover as part of their employment package, expect this to cost you around £2,500.
Traditionally the car allowance is calculated as 10% of the quantity surveyor or estimators salary, allow £5,000 in line with the lower end of the salary.
Don’t forget the running costs and fuel
Recruitment agency fees
By using a recruitment agency you could get a greater number of candidates to interview, offering a greater choice. If one of these candidates is employed, expect to pay between 12 and 18% of final salary, at 15% of the lower end of the salary this would equate to £9,075.
Human resources and legal costs
When you have found some suitable candidates, costs will be incurred with background checks, interviews, preparing contracts. This could amount to £2,000.
I.T equipment and phones
If you are adding new equipment for your new quantity surveyor or estimator, expect the cost of a new computer, software licenses, mobile phone, landline phone and some I.T support to cost in the region of £5,000
Training and line manager
All companies are expected to develop and support their employees, a conservative budget of £1,000 for essential training.
A portion of management time and integration time will amount to £2,750
So, whats does this all add up to?
With a basic salary of £50,000 the total first year cost of a newly employed quantity surveyor or estimator is over £90,000
Holidays, sickness and non productive time
Dont expect to get 100% productivity out of a full time employee, there are several times throughout the year that will be paid for when you are not getting any work produced
- Holiday entitlement
- Bank holidays
- Breaks and general time not working
The actual time where the employee is fully productive is in the region of 80%
How can 4G Consultancy save me money?
You will see from the information above there are lots to consider, this can put a lot of financial pressure on a company especially if you are a relatively small team.
Our services don’t require you to commit to us full time, we are here when you need us.
When you don’t need any quantity surveyor or estimating support you are not paying a penny.
We don’t charge you for a company car or private medical cover.
You don’t suffer from non productive time or sickness as we are not employed by you.