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Salary w benefits is better. What inevitably happens w hourly is you’ll be reduced to just a few hours
This is not true idk what field you are in but when you go for a role you can clearly require a minimum number of hours, which is 40 hours per week. I am normally flexible to 35 hours minimum if the rate makes sense.
They know that they aren’t giving you holidays, bonus, benefits so your client should understand that you are making yourself available for a full time schedule. Otherwise if you don’t have a minimum hours set they can’t expect you to not have other clients and they cannot expect you to be available all the time.
Always remember you work with other people that make up the organization. The company itself does nothing for you.. it’s the people that have given there time to the company that do things for you.
The “Perm” job is a fallacy, you are literally only a small severance package if your lucky away from a contractor/consultant.
In this market it’s great to be contract. I believe that you can essentially earn 2.5x if you get the right contracts. Plus with everyone dying and retiring left and right it’s a great time. For “title” and “seniority” being in an organization that you can see yourself for a really long time is great. I really don’t see myself long term at the places I’m working at even though I been with one client for 3+ years.
I will add that after your cobra period ends… you will trouble getting the same quality insurance and you will pay more for it
I think contract is only good when there is a second income in the house and possibility for health insurance and benefits out of the contract. If you’re the breadwinner, then its difficult. Most contracts I came across pay way below the same salaried role, especially when they are managed through a recruiting agency. But I also noticed a spike in contract work rn.
You really need to weigh your current worth in the market before switching to contractor. No job is ever really secure but how niche is your skill going into it? How plentiful are other contracts out there and how dialed in are you with numerous recruiters? If the market is heavy for your skills, contracting is going to make the most money and very possibly could lead to a full time role if you want it. Pro- contractor here
Contacting is only great if you have a few clients lined up, so you can hop onto to another if one doesn’t work out. There is no “safety net” nor do you have a concept of holidays/PTO. Contractors are almost always treated inferiorit inferior to other FTEs. So all in all, it’s a risky bet with the only upside being potentially better pay.
Salaries
Contract roles are always the first to be cut. So when I did it, my hourly contractor rate was 4x my hourly salaried rate, and I was working ~50 hours per week. And then I extended health insurance through cobra, because that had better coverage than my state’s Obamacare marketplace at the time. My contracts were cut at the start of COVID, but then tons of firms started offering contracts again by October of 2020 because they laid off so many people prematurely.
Def could be a good option to be on a consulting talent exchange if you have health insurance (US).