{ "media_type": "text", "post_content": "Anyone moved from full time to contract type jobs? What is the difference?", "post_id": "6175c2947f97320039db7f5d", "reply_count": 14, "vote_count": 4, "bowl_id": "55375ce690f5eebe1d2a0f88", "bowl_name": "Tech" }

Anyone moved from full time to contract type jobs? What is the difference?

like
Posting as :
works at
You are currently posting as works at

Job security, taxes, and benefits are the major differences. A lot of companies treat contractors and employees the same, but without the benefits.

like

Losing equity and/or bonuses

The difference is that there is more commitment on your end as an FTE than a contractor. You are expected to follow company policies whereas with contracting, you aren't held to the same company-wide standards and have more flexibility. I prefer contractor tbh.

Loss of benefits is the big one. Also easier to get rid of you.

Job security is probably the biggest difference in my opinion. And overall ties to the company like E 1 said.

Never go for contract

Flexibility !

There are certainly pros and cons for each. More flexibility and control as a contractor, but no benefits and you're responsible for your own taxes.

I'm making the move now so will report back. I've taken on freelance/contract work for the last year or so now and it's convinced me to make the switch. More control over your time, more independence...but yeah, there's a big headache to sort out in terms of benefits etc. And unless you're making enough to hire a team etc, it's all on you which can be a lot of pressure. I waited until I was making a solid amount consistently before I considered making the switch

Yep let us know how it goes! Gl

Contract type jobs are a lot more flexible, where as full time you need to be there from this time to that time.

I have, and it's way more responiblity and accountability as a full time employee.

My partner went from FTE at Google to freelance. He loves the flexibility to dictate his own schedule, as he can take 2-3 months off each year. His comp has also been higher than in-house and it’s all cash. I think it works well because he’s very experienced (15+ YOE), gets health benefits through me, and has a strong network for new projects and clients. Cons include stressing about things he didn’t have to deal with before (business plan, logistics, constantly shuffling between new teams) + worrying about new work, even though it has never been an issue.

It's probably not worth it for most people working at the big tech firms to switch. But compared to many of the traditional corporate type jobs, you can potentially earn more. I doubled my compensation, but I was getting underpaid previously.

Additional Posts

Has anyone gotten matched to Delta diamond from EP or 1K? In our status match program it shows platinum as the highest tier for matching. Any tricks?

like

How many SPG points do you have?

like

Will your firm or group host a holiday party? I’m all for free booze

like

How is KPMG immigration team? How soon do they start green card processing?

like

Are there any "hacks" for free wifi when flying United?

like

Warning to anyone flying from LGA coming from the city/BK- gridlock is starting way back at the Koscuiuszko Bridge, instead of the exit to the airport itself. Adds an easy extra 40 min to the commute

like

Have any of your firms discussed a flexible WFH policy post-pandemic? I’m happier & my hours are through the roof. I want to approach management with policy ideas for people like me who are thriving.

likehelpful

Anyone interviewed with IQVIA and did the forecasting and written case interview? Trying to see what that covers. Thanks

like

Any advice for a newly pregnant consultant (6weeks in)? Do people usually go for appointments and scans without telling anyone at work till the required time to give notice? Currently on a busy project so a bit worried going through first trimester without work’s support, already struggling with energy levels and nausea

like

With all my flights planned on United through the end of year, I'll be only one PQF away from requalifying for United Gold Status. Is it worth an extra $89 and a few hours of my time to reroute myself to BOS on my way to LGA, just so l get the extra PQF to reach Gold? If I don't, I'll be at Silver next year, but idk what material differences are b/t Gold and Silver besides upgrades at 24h instead of 48h. Worth it?

like

What’s the parental leave policy at your firm? Maternity vs paternity? Is two weeks paternity leave pretty standard?

My wife is pregnant. Do the general courtesies of telling your manager/work beginning of 3rd trimester still apply during covid/work from home? Her industry has been hit hard and her job has been doing furloughs and layoffs. We can get pretty far without telling due to WFH but don’t want to put her boss in a bad position either.

like

Is it alright if my utilization drops below what it is supposed to be by a little bit (5% or less drop from standard amount) while I don’t have a lot of work to do?

like

Can anyone provide examples of technical interview questions that they have been asked when seeking tax manager role?

like

Today’s career aspiration: get to the level where you do not have to submit time sheets. SVP? EVP?

likefunnysmart

Please stop sending me invites to join Fishbowl. I'm already here and I feel my utilization dropping rapidly!

like

Is any accounting firm sponsoring for an H1B visa in tax or audit? I joined KPMG 5 years ago and heard that they quit doing so after that.

like

Marriot lifetime platinum members: does your account say you’re platinum premier elite? Mine just says platinum elite, but I thought we were to be grandfathered into platinum premier elite.

likefunny

Anyone moved from AP at MBB role to mid-senior partner role at Big4? Any thoughts?

like

Given inflation and alleged labor shortage, what's the new base/TC band for an exit after 2 years as an Associate post-MBA in the US?

funnylike

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
Download Fishbowl to see what others are saying
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the Fishbowl app

Get realtime notifications and see
what's happening in your industry
from the palm of your hand.

For account settings, visit Fishbowl on Desktop Browser or

General

Legal