Should I Take the Contract? Key Things to Consider Before Accepting a New IT Contract Position

A contract job could be a step towards a fulltime job, a boost for your resume, or a flexible career opportunity all on its own. While contract work has a lot of benefits, candidates should still think through all the difference between being a contractor and an employee before making a decision.

  1. Benefits: Many contract positions don’t offer full benefits, while some offer none. If your situation is one that requires the security of employer-paid health insurance or you want to make sure that you have a 401k and PTO in place, a contract position may not be the best fit for you.
  2. Taxes: Many contractors are listed as freelance or temporary employees and are required to fill out a 1099 and pay their own taxes. This presents a challenge to some people and may be a factor in accepting an offer of employment.
  3. Length of contract: Make sure to ask how long you’ll be on contract for. This is key for knowing when you will need to plan to look for other work and shape your timeline in terms of when you’ll need to start looking for another contract.
  4. Contract to hire: If you’re looking for a fulltime gig, you want to know if this contract position has the potential to turn into one. Knowing if you could end up as a member of the staff may affect your decision to take on the role. If you’re looking to stay flexible or just need work for an interim period of time, a temporary contract might be a great opportunity.
  5. Rate of pay: Will you be eligible for overtime? What is the schedule you can expect? Is the contract rate of pay compared to what you’d make in a similar position as a full-time employee? Asking these questions can help you get a handle on the financial aspects of the position that could impact your decision.

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