If you can make 38% more as an independent contractor for a year would you take it? You’d have to pay employment tax, fund own benefits and retirement accounts wouldn’t be matched. Why or why not?

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I've done it. Requires 2-3x of salary to make it worth it. Plus you need to plan for 3-6 month liquid in case the contract ends in a year and you can't find another job right away.

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Also remember that you may not get paid promptly. I did it and sometimes went 2-3 months with out getting paid

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People get into consulting out of risk aversion. What’s you’re proposing is something 90% of people on here wouldn’t even consider.

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I would do that only if my SO is not a contractor. I could use the benefits that they get while I can save more for us

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Also take into consideration the things you will be losing out on 401k match, stock purchase plan discounts, per diem, training and networking Also longterm uncertainty.

Also consider How much is healthcare coverage going to be in your own

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Percent increase is on Gross amount, not net. Level is Senior Consultant/Associate Manager

Do you want to manage all the submissions? Most people are not that disciplined. If you are go for it. If you can negotiate s bit higher. Your time to manage all those submissions costs money

So per diem/travel expenses would still be paid. It’s a guaranteed one year contract. So not too worried about finding work or missing out in travel. Also healthcare would be about 50% more than I’m paying now.

I am concerned about the 401K match and ESPP. Though I’m hoping that tax deductible expenses expenses like cell phone, home office, car lease, training, attending conferences, etc. would be tax deductible to offset the loss.

I am concerned there’d be no network of people I can turn to for guidance and no pool of analysts to draw from

38% is too low. You would need 2-3x to pay for all the things you take for granted now

Thanks everyone!

My SO is in Ned school. Plan to try this out after she’s rolling in dough

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