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Select Contract or Perm

 1.  Know your options

  • Traditional permanent employees work solely for a single employer.
  • Contract consultants work on a series of different assignments anywhere from a few weeks to over a year in duration.
  • In the United States, IT consultants are usually full-time employees of a contract consulting firm which may provide benefits.
  • In Canada, most IT consultants are incorporated or sole proprietors, meaning they are entrepreneurs running their own businesses.
  • Contract consulting is not simply a job option but a lifestyle choice that is not always suitable for everyone. Consider the challenges and benefits of both contract consulting and a traditional permanent

 2.  Benefits of traditional permanent employment  

  • Most traditional permanent employment offers job security and stability.
  • Traditional permanent employees can rely on a continuous, predictable income stream that rarely decreases.
  • Traditional permanent employees usually receive benefits such as pension plans, paid sick leave, insurance, and medical coverage.
  • Companies are often willing to invest in education and training for permanent employees.
  • Traditional permanent employees belong to an ongoing social group and are members of a "family".
  • Traditional permanent employees may have the opportunity to participate in stock options and profit sharing.
  • Many companies manage their employees' careers and guide them into a desirable career path within the organization.

 3.  Benefits of IT contract consulting  

  • Consultants are free to select the types of consulting assignments that meet their personal goals and preferences.
  • Consultants can gain a wide variety of experiences in different corporate and technical environments.
  • Since consultants control their own careers, they may enjoy a more positive attitude toward their chosen profession.
  • Consultants are usually encouraged to remain removed from the internal corporate politics of the client.
  • Consultants may choose to explore short-term opportunities in new communities or even other countries.

 4.  Challenges of IT contract consulting  

  • Contract consultants are not always able to find work when they want it at the desired hourly rate.
  • Even highly skilled contract consultants may endure unpaid periods between assignments.
  • IT contract consultants often have to take responsibility for their own continuing education and training, including costs of tuition and unpaid time spent to take a course.
  • Some IT contract consultants must obtain benefits such as insurance or medical coverage on their own or forgo them all together.
  • IT consultants are typically not eligible for stock options or profit sharing plans.
  • Career planning and development is usually the sole responsibility of the individual.
  • On the job, consultants are often expected to be the team expert, someone who can ramp up very quickly and produce excellent

5.  Consider your personal preferences  

  • Some IT professionals prefer to grow with one organization through a number of years rather than consulting for multiple organizations.
  • Others rely on the security of a guaranteed work schedule and steady income without the periodic interruptions that may come with contract consulting.
  • Those who aspire to management may find that consulting assignments are somewhat scarcer.
  • A permanent position is the best way to begin your career and develop your skills for the widest range of opportunities later on.
  • Contract consulting may be best for you if you are a highly experienced, highly motivated individual with a lot of professional confidence and an entrepreneurial spirit.

 

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