Base hourly (contracted)£19.15
+ Unsocial enhancements£22.02
+ Pension value (employer 23.7%)£4.54/hr
+ Paid leave value≈£0.07/hr worked
True substantive rate£29.20/hr
Bank rate£24.00/hr
Annual difference (bank vs substantive incl. benefits value)
-£10,658
Break-even bank rate: £30.22/hr
Also weigh job security, pay progression, and continuity — bank work has no guaranteed hours. Sick pay and maternity entitlements alone can be worth thousands in bad years.