Working as a Contractor: Pros and Cons

Working as a Contractor: Pros and Cons

Working as a Contractor: Pros and Cons

The current economy has made job hunting trickier than usual. Traditional, permanent positions are less common than they once were. If you are starting out in IT, it can be particularly frustrating finding a position where you can gain valuable experience. One solution is to work as a consultant for a staffing firm. While other industries may look down on outsourced staff (usually by giving them the somewhat derisive name "temp"), outsourced consultants have been a vital and important part of the IT industry for many years. Being a consultant has both its good and bad points.

One obvious downside to being a consultant is that the length of your engagement is limited. Usually, consultants are hired to work on a specific project and they have a contract that can vary from three months to a year. Once that time is up, the company that hired you will try to find another project for you. If they can't, you may find yourself out of work.

While this is a risk, contract work can be more plentiful than permanent positions. Particularly, during a slow economy, companies will often use contractors rather than take the risk of hiring permanent employees. This means that those willing to work in contract roles will often have a wider choice of jobs and projects available to them.

This is one of the greatest benefits of being a contractor. As a contract employee, you will have an opportunity to work in many different industries, on a variety of projects and utilizing a wide array of technologies. In fact, for someone new to the IT industry, contract employment is an ideal way to build your skills and gain valuable experience to further your career.

The pay for contract employees is often slightly higher. Contract employees are often paid on an hourly basis and the rates paid to contractors can be as much as 10 to 20 percent higher than the higher rate paid to a permanent employee. This is because the company does not have to pay for benefits for contract employees. That is not to say that benefits are not available to contractors. Many IT consultancies provide some benefits to their employees. Typically these include health insurance and other essential benefits. Some even provide paid vacation and tuition reimbursement.

Another plus to contract work is that the hiring process is often simpler. Since companies are not taking on the risks associated with hiring permanent employees, they are typically willing to make a decision more quickly. I've worked as a contractor many times and it was not unusual to receive an offer within hours of the first interview with the actual client.

While working as a contractor can be risky at times due to the temporary nature of it, there are many positive factors to being a contractor. Contract work is in higher demand during a slower economy, you can select from a variety of projects and companies and you can build a great deal of experience quickly. The benefits may not be as good but typically the pay is higher. Those starting a new IT career should especially consider contract work as it will allow them to build their skills and experience.

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