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Yes, do it. Contract roles have been the only way I've been able to make wild career jumps and changes. Always bet on yourself in life.
Enthusiast
Great point! Thanks!
Move sooner to your goal than later. Once you land at contract role begin to actively look when you are half way through your assignment term. Wouldn’t hurt to start find prospects immediately.
Remember, your contract could end early. Save ur money.
Rising Star
how long is the contract role? if six months it reallg gives you (at current pay) six more months to find something if that ends. will you pick up new (resume) skills? are you learning in your current job and is it a good company with future prospects? how much is your need for more money right now? you have to answer these kinds of questions and then decide for yourself....generic answers (hang on to FTE roles in a pandemic year) won't be too helpful depending on your circumstances and needs
The contract is for 9 months. I don’t hate advertising but its not in my greater plan to work in ads long-term.
It has always been a goal of mine to
work in the music business but I never thought the opportunity would come
in this form.
Rising Star
9 months is long enough to get really good and hopefully have someone in the company take note and decide to hire you, too, so while you should be looking for a permanent role there's a chance one could fall into your lap if you do well
Enthusiast
Agree that you have to back yourself in life. It’s a calculated risk.
From what you say it sounds like you may live with regret if you don’t take this opportunity.
It’s tough to change course sometimes, but taking the easy path isn’t always the best one.
Enthusiast
There’s some risk, but it doesn’t seem huge as long as you still spend as though you are making 40k. That way if it takes you a year to find a new job, you’d still be okay.
It sounds like an opportunity that you’d regret if you don’t at least try (but I could be wrong, up for you to assess)
So you’ll make 85k vs 30k over the next 9 months. I think the extra 55k is totally worth it even if no guarantee of being permanently hired.
This extra income should give you plenty of cushion/time to find another job, if necessary, even if it’s not in your preferred industry yet.
Ok, I have to be blunt. Sounds like you’ll double your annual income. 1099 vs. W2... yeah ok, you’re responsible for taxes... But you make 40k before tax now.
I have always wanted to do contract work. I’ll be honest I’m just comfortable. Otherwise I’d jump all over it. You’re basically working for yourself.
It really seems like a no brainer to me.
Yes! People tend to underestimate the value of employer paid taxes, and benefits (employer HSA contributions, reduced healthcare and retirement contributions). Make sure you include these in your calculations. I am a CPA and have been on the receiving end of frantic texts/emails/calls from friends who are 1099 employees come tax time who didnt realize how much taxes were and how they didnt set any money aside.
I took a temp 6 month contract with JPM & now I’m a permanent employee. Take the leap and network like crazy. I was one of the few that ended with a full-time position not because I was a hard worker (though I am, but so are others!) but because I had a VP who was willing to vouch for me. Good luck OP!
Do it. If you have other career aspirations the contract work will keep money in your pocket (more than you’re making now) with an end in sight to begin your new career. As others have said if you keep your spending down the money you make in the contract role could last you months longer and give you a cushion to pursue your new gig.
Best of luck. Let us know what happens!
Great opportunity. Hence great challenge. The pay gap is huge, and remember capitalism does not overpay, so just make sure you are ready for the challenges. The fact that it’s short term means they want someone to plug and play, not necessarily thinking about long term so training will be minimum, which is the other reason they are willing to pay. Make sure you think through. Every coin has two sides. Just my two cents.
Enthusiast
Not sure I agree with “capitalism doesn’t overpay” 😂
Since it’s 9 months I’d absolutely do it! You’ll make new connections, make more money and can start looking for a new job halfway through. Don’t forget to save a portion of your earnings for taxes! Good luck!!