Anyone have experience working as a contract Project Manager? I’ve been in medical device manufacturing for almost 6 years, currently making $120k as a Project Manager. Getting a lot of recruiters for contract positions in the same industry. Do these typically guarantee 40 hours per week? If so, it seems a no brainer to consider as I could bump my pay up to $150k-$180k and be able to change projects every year. What’s been your experience working as a contract PM? Would you recommend?

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Contract work is usually bait and switch. I worked as a contractor early in my career and would never go back to those roles.
Assuming your total comp is $120K, your employer pays another $15,579 and your health insurance, and assuming you get 15 PTO days, the cost component of PTO is $6923. ( $120K a year, 2080 hours a year and 15*8)
Your total comp with these benefits is ~ $145,000

The problem with contract roles is they are subject to the whims and fancies of the manager approving your hours. I worked 60 hour weeks and was always asked to only bill 40 hours or was threatened with non renewal of my contract. Now if you can answer the concerns to your satisfaction then go ahead and take the leap. Another calculation to keep in mind,

$120,000 is $57.69 an hour (before taxes)
$150,00 is $72.12 an hour (before taxes)

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You are welcome!

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