Should I take this contract role?

Hey guys,
I have being offered a contract fixed term role at a company for 6 months with $ 70 a hour.

It is a good role and i have the experience to do the role
but unfortunately I have never ever done contracting work. I am making 55k a year at the moment with a stable full time job should I take this 6 month contract job for 70 dollars a hour?
is it worth it? Will i make more money ? if i convert to full time work what is this the equilent of?

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Comments

yzT

You will make more than your current salary in half time, however, what are your stability needs (basically, family)? What if after that contract you are not able to get a new job in a year? Can you afford that?

I think no one can advice you about this one, as it is up to you to assess the pros and cons and decide whether to take it or not.

Bokeh

Agree with above post. 55k = 26.44/hr, so you would be making almost 3 times that. HOWEVER ....

at 70/hr contract you are responsible for your own insurance, etc. That does not come cheap. Depending on where you are in this great big round world, you may or may not have an employer who pays part or all of your insurance. Can you afford that on your own for you and/or your family? Do you have enough in savings that if the contract position does not go full time, and actually ends at six months (or even earlier!) that you can fall back on while you look for another position?

As for if you'll make more if they convert you to full time, well that depends on the employer. Maybe yes, maybe no, maybe even less. Reason I say maybe less is now they will be paying part or all of your healthcare premiums, contributing to 401k or other retirement plan, etc.

Big decision to make. Have to look at all the pros and cons.

regardless

I am from NZ, I am single no need for insuarance you get free healthcare etc here and yeah, it is fixed term it wont be extended after 6 months,

Tyb

You will make more in that six months, but then what? You have to ask yourself if you want to go looking for after that or keep the security you have now. Its a tough question that we really can't answer for you.

kohr-ah

I've been told the other side to it is a lot of times it can be hard to go from contracting back to a non-contracting role.

But like others said it is up to you and if you can do it and find work again after I'd say you are good but be prepared if you can't and give yourself a 6 month expense lead way.

I have to say (this my for my case) it was nice making a lot of extra money ad a contractor but I'll take stability and PTO easily over doing that again.

Xyro

Plainly, the only item I would base this decision on is if the role would move me "up" in position/experience level. Does the position move me up? I would take it. Does the position move me down? I would definitely not take it. Does the position keep me on the same level? I would (once again) not take it.

If this will move you "up" and you decide to take it then I highly suggest you save everything that you make over 55K and start looking for another role at least 3 months before your contract terminates.

I, myself, have a good amount in savings and no insurance needs so it would be a very simple decision for me; however, what Bokeh stated may apply to you and in that case I would suggest that you keep that in mind also.