WHAT ARE THE GOOD & BAD THINGS ABOUT IT CONTRACTING?

A natural step for many experienced or qualified IT professionals is to take the next step into the contracting world….

But what are the pluses & minuses of becoming an IT Contractor?

What about Tax? When will I get paid? How do I manage financially between contracts?

Some of the key questions to ask yourself first are:

• Do I have the people contacts?

• Are there some of my ex-employers I could ring up now and know they’d potentially have me back on contract?

• Can I financially go between a contract for 2-3 months?

• Would my partner want me hanging around home in the downtime?

• Do I have software or personal projects I can work on when I'm 'out of contract'?

• Am I prepared to get out & network / partner with agencies to secure my next contract?

• Am I prepared to be flexible to work on-site & from home or both?

• Am I prepared to travel to Wellington or Auckland when I can't find a contract in Christchurch?

• Am I quick to learn a new environment - both technical & company?

So what are the Pros?

• Easy set-up start as a sole trader (zero $$)

• Variety of projects

• Neutral point of view / detached from the in-house politics

• Hourly or daily pay rate

• Become a Specialist

• Become a Generalist

• Gain a lot of different domain experience in a short time

• Work on cutting edge projects that demand specialist technical skills

• Claim back work / travel / tools / entertainment / expenses

What are the Cons?

• Having to stay current with latest technologies (Not really a negative for techies ;-)

• Have to learn a new environment very quickly

• Paying your own tax / engaging an accountant

• Setting up as Sole Trader (Zero $$) or Limited Company ($150)

• Gaps between contracts…

• Delay in payment from time of invoice

• Having to do the jobs that others don’t want to do!

• Time pressure to deliver projects can mean some demanding hours if needed

• Flexible to travel to client sites

It’s not for everyone……But the rewards are great!

If you'd like to learn more about the IT Contract recruitment market in Christchurch & types of assignments on offer, hourly rates etc having been a contractor myself for a number of years & owner of Sunstone Group Limited I'm happy to help - feel free to email me paul@sunstonetalent.com