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Pay - Aim for at least 25-50% higher than the full time pay you’ll take. You’ll be responsible for your own insurance and won’t get PTO, 401k match, etc
Generally speaking, when I am offered a contract role, I would require 33% or more compensation due to not being paid for time off and losing out of benefits, bonus, etc. I figure 15% is for the bonus, ~15% for time off and unpaid holidays.
Excellent advice, not much to add except that I'd be wary of taking a contract role at the moment. They will be the first to go if there are layoffs.
I wouldn't suggest taking contract job by leaving full time job. Unless your current env is toxic and you want to get out asap. If you really want to, then aim for 30-40% higher than FT pay as others are saying.
Genentech is a great company to work for. A large portion of the workforce are contractors and they treat you the same as the FTE.