contract vs full-time

[dragonwell]

I may have the opportunity to take a contract programming position. I have a full time job, but have been looking to move. The contract would be for considerably more money and, more importantly, be much better suited to my skills and ambitions. The only thing that worries me is that it's temporary (6-9 months). I have a family to support, so long-term security is fairly important especially in this market. However, for my own sanity/happiness and professional development I really need to move on from where I am now. Could anyone offer any advice?

Thanks.

 

[kHz]

Unless you are in a large market (e.g., Chicago, St. Louis, DC, etc.) and you have a niche skill that would make you a commodity, I would say stay at the FT job, because of your family.

There is no guarantee that another contract will emerge after your current contract expires. And, being only a 6 month (or 9), you will have to begin searching, or have the contracting company begin searching for anohter job in just 3 or 4 months.

If you are determined to take the consulting job, then see if it is right-to-hire, or if you can extend the contract another 6 months or 1 year. Or you may want to say that because of the family, you will not except the position except on the condition that it be at least 1 year.

You wrote consultant? Or do you mean contractor? Will you be a third party being placed by a consulting company such as Analysts International? Or solo? If solo, what about taxes? Benefits?

 

[mrdenny]

One other thing to remember when you are consultant/contractor. You usually don't get health benifits. You didn't mention if you have kids or not, but paying for your own health insurance can be very expensive these days, especially if you have kids.

Just some food for thought.

I tried the contract/consultant thing a few years ago, and it just wasn't for me. I found that I much prefer the stable full time work over the not as stable but better paying contract work.

Denny

--Anything is possible. All it takes is a little research. (Me)

http://www.mrdenny.com

(My very old site)

 

[kHz]

I was a contractor for a third party firm once and was placed in a job with a nationwide insurance company. It was right-to-hire and accepted the offer at the end of my contract, and continued to work there for 3 more years.

At my present company, I got the medical benefits brochure today. Health insurance is increasing 30%!

Hmmm. Insurance increases. Gas increases. Electricity increases. Phone increases. Home heating oil increases. Food increases. Taxes increase.

But the yearly salary increase is less than the cost-of-living increases (see above).

There is a reason that contractors/consultants are paid more than average. One is they are very skilled in a tight niche market (very few know what they do), and the other is the reason there is a lot of downtime. The extra pay covers the time not working.

 

[PatrickIRL]

Also remember that any days you take off or are off sick due to illness, you don't get paid.

I've been contracting for 4 years now but I think I've been very lucky. There have been down times but that's the nature of the beast. I can afford to go 3 months without work because I have no-one to support, can you say the same??

Patrick

 

[willir]

The company I currently work for is big on consultants / contractors. Why -- it saves them money. Here is how...

Contractor / consultant is paid by the hour. They are expected to setup their own company. Note that since the contractor has to set themselves up as their own company, the "employer" no longer is responsible for vacation and other employer costs. They have an agreement of $xx / hr. Granted, the $xx dollars is more than regular wages but they have to absorb a lot of other costs -- health care being a major issue.

Along comes the need for the employer to hand out overtime -- the contractor gets it. Same agreed price -- not OT 1.5 or 2x hourly rate, etc.

The need for contractor expires -- goodbye, no termination / severance fees.

Disposable or what???

There is one benefit for the contractor is this arrangement -- they may be able to deduct certain things as driving as a business expense.

In this case the cotnractor has to be good ... or desperate.