Contracting has become an increasingly popular option for both employers and professionals working in the industry. However, as the market grows we also see an increase in the number of permanent positions. This means that professionals should see the pros and cons between being employed vs contracting before actually choosing their path. Of course what is right for one person might not be right for the other.
Contractor versus Permanent Employee
Several factors need to be considered prior to deciding whether to be employed or being a freelance/contractor.
Contractors tend to have a higher salary
One of the main deciding factors in contracting is the salary. Contractors tend to have a higher salary since they are not entitled to holiday and/or sick pay. Experience is another key factor to take into consideration when going into contracting. Compare you salary as a contractor by joining White November and calculate your income.
The average contract time is about 6 months. This gives the contractor experience of different working environments as well as working on various projects in a short timeframe. The more experience you gain as a contractor the more valuable your CV becomes, giving you preference over other candidates when looking for new work. Therefore, a contractor’s knowledge in business transformation and change are often more in depth than that of a permanent employee.
Regular Income for permanent employees
One of the main perks in being a permanent employee is financial stability, in short, income is always regular. Your role is not only protected by a contract which makes dismissal difficult, but you also have a financial cushion in terms of a notice period. Benefits such as a gym membership, life insurance or a pension scheme are also key factors in being a permanent employee. Career progression and development is something to take into consideration if you are thinking of changing your employment status. In permanent employment there is often a budget in place to spend on relevant training. Permanent employees also tend to invest more emotional input into projects. Being a permanent employee you will receive plaudits over a contractor when a job has gone particularly well.
Should you look for more information about Pros and Cons of Contracting, please click here.
Join White November
Deciding might not be the easiest task, however working with an experienced company such as White November will make the whole process easier. Our knowledgeable relationship managers are always available to explain in detail the benefits of contract employment to help you make a decision that is right for you.
So, if you are ready to join the world of contracting we are here to assist you. For more information, please get in touch with us at www.wnic.eu.