7 Reasons to Contract
Of course there are always downsides to every upside but as far as contracting goes, it swings heavily into being much better than an employee. Here is why.
Reason#1 – More Money
No matter which way you look at it you are better off being a contractor. Often two or three times as compared to being an employee.
Contracting rates are much higher than permanent work. You can usually structure your work under a limited company or other legal entity which is only taxed on profits AFTER all your deductions.
Reason#2 – Business Trips!
If you need to travel to another country on business then your business pays and not you. Yes, you own the business but it is a tax write off. If you have friends over there or want to holiday after your business meetings then what the hell.
Reason#3 – Unlimited Training
Any training I was given while I was working was always an afterthought, if there was any at all. One company used to ask for stripped down training to make sure we didn’t take any exams in case we left!
As a contractor you are in charge of your own training. You choose the courses and when you take them. If you want to become a guru in something then you can. If you want to travel to China for personal coaching then do it. If you want to learn some business skills then go right ahead.
Reason#4 – No Boss
Good bosses are as rare as rocking horse droppings. A boss who treats you well, tells you the truth and values you as a person. Most are over promoted bullies who see you as a stepping stone to the next promotion.
As a contractor you are your own boss. You choose the contracts, you negotiate your own rates and choose when you take your holidays. You never need seek permission again.
Reason#5 – Variety
Most jobs get very, very boring. The only thing to relieve the boredom is to make yet another coffee or surf the web (if you can get away with it.)
As a contractor you can choose the roles you will find the most challenging and stimulating. Your contract can be a few weeks to a few months long so by the time you are getting bored you can choose to move onto another.
Reason#6 – Holidays
Contractors can choose to jump from contract to contract or take a nice long break. I know of one contractor who works throughout winter and then in the summer travels around the world with the UK national paragliding team. Hard life eh?
Reason#7 – No Office Politics
No false promises of a promotion or pay raise next year. No performance reviews or targets. No office gossip about who is having an affair with who. No weekly motivational meetings. Heaven or what?
As a contractor you are there to do a specific role. If you have to attend a meeting it should be about the project you are working on and nothing else.
