Thinking of setting up as a contractor?

Thinking of setting up as a contractor?

Have you received a job offer and thinking of becoming a contractor? Let’s see what are the main aspects of being a contract worker.

A contract worker is a person who has gathered a great experience and is considered an expert in the particular field. It is a person who performs work on contract basis. Contract jobs are short-term positions that typically vary from three months up to a year, with the opportunity to become full-time, permanent jobs at the end of the contract. Contractors can perform work in variety of industries, but the most demand is in IT services. Contractors typically handle their own taxes and benefits; therefore, they charge more than a full-time employee. Usually, they are paid hourly and have a more flexible working schedule. Contractors can work remotely (“offsite”) and in the office (“onsite”) depending on the project and company. In this case you are “entrepreneur” and not “employee”- it means that all the legal points of standard employment contract are not anymore attributed to you. For example, you can’t have such benefit like sick leave, paid vacation, health insurance and social taxes, but it depends what are your life & career goals. There are many good advantages of being a contractor.

Some candidates may still think that it is quite a big risk, as the employment contract gives more financial stability and other social benefits. If you are an IT expert, you should not be afraid, because many companies are adding contractors to their teams once the contract ends. Secondly, an IT staffing agency or a company that hired you will support you in finding another project or a job. Finally, you will acquire new experience and new knowledge. Moreover, you will have an experience of entrepreneur and you will expand your professional network.
Every employer has its own reason of hiring a contractor. The most typical one is that they urgently need a candidate with a niche skill for a definite project. Contract job provides possibility to assess not only technical skills, but also soft skills & cultural fit within the organization. Sometimes interviews are just not enough to understand candidate’s personality and capabilities. Another reason is budget dependent.

To sum up, the contract work is definitely for you if you think about your own business. Moreover, this possibility allows you to test the company or the particular job. You are not stuck anymore with one company. The world gives you a lot of opportunities and you can achieve your goals.
If you have any questions or need a help in regards to contractor’s career, get in touch with one of our consultants.

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