Contract work vs full-time work: Pros and cons

Layoffs and salary and benefit cuts are a reality in this economy and your future is tied closely to the fortunes of the company you’re working for. Assess your company’s financial health and find out where you really stand. However, full-time work can give you more financial security and stability. So, freelancing isn’t necessarily better than full-time work, but this will depend on what you value more. To many people, particularly those either planning or already having a family, this is one of the most vital advantages of being hired full-time.

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Contractors on the other hand, usually target startups and small to midsize businesses to scale their services. Therefore, they are required to market themselves adequately to attract gigs from top tech companies. The technical aspect of the job prospect will likely remain the same which means companies will be judging you on your knowledge of data structures, system design and coding abilities. However, since you would be serving them for a shorter duration, there will be a lot more specificity with respect to required technical knowledge. To do so, you can speak with hiring managers, ex-employees, or current employees to get insight into their inner workings. Apart from having health care benefits and employment insurance, there is the added benefit of working on the latest technologies and with cutting-edge software tools.

What is a Full-time Job?

Nearly 350 software developer contract jobs  were added on Glassdoor in the last 30 days alone, ranging from data engineer, senior full-stack software engineer, Azure cloud engineer and Android engineer, to name a few. If your career choices are not determined by the stability and contract vs full time salary predictability of a job prospect, contract work could be an ideal choice for you. Therefore, before accepting your next IT role, you must explore the advantages and disadvantages of full-time employment vs. contract employment to extract full potential out of your IT career.

In turn, your value in the labor market goes up when you’re constantly working on cutting edge technologies. You also have the flexibility to opt out of work for weeks or months if you choose to. In this manner, you may choose to grind for a month and take the consequent month off. Contract workers also can work remotely or from the premises of an office that isn’t managed by the canceltimesharegeek company they are working for.

Contract vs. full-time workers

But since that expert isn’t hired full time, the company doesn’t continue to pay that higher-salary once the project is completed. While most people are familiar with full-time and temporary employment, we are beginning to see an increasing number of contract positions. More employers are embracing the concept of contract jobs because it’s cheaper and less risky for them.

contract vs. full-time employment comparison

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