Benefits of contracting
Contracting is a great way to create a tailor-made career. You are essentially your own boss therefore rate of pay, hours, holidays and working conditions are up to you. Here are the benefits of contracting:
- Contractors often get paid higher rates as employers are paying for their flexibility.
- Contracting through your own limited company is the most tax efficient way possible and isn’t as hard or time consuming as you might think.
- You will often be paid on an hourly basis with high overtime rates.
- You can offset all of your business expenses against your income to further reduce your tax bill.
- You have more flexibility to negotiate pay rates and conditions.
- As a contractor you are your own boss.
- You will have the freedom to work when you want/need.
- Contractors can choose to spend more time on their hobbies such as sports or travel.
- Contracting is ideal if you have a family or young children as you can work around parenting duties and school hours.
- Changing contract is often be easier than changing jobs.
- The company you work for is not your employer, but is instead your client.
- Skills development
- Working in a variety of businesses will broaden your skill-set and knowledge.
- You will have more opportunities to taste test industries.
- Your confidence will grow as you deal with a number of employers, managers and colleagues.
- Contractors often have a very extensive CV with a strong list of references.
Skills and knowledge
- Contractor is essentially a form of networking. It’s highly likely one contract job may lead to another.
- There is sometimes room for contract work to become permanent.
- Working for different organisations gives you the ability to advance your career without being limited by a single employer’s processes, procedures or business ethos.
- Opportunities aboard become easier.
- Contracting is a smart way to broaden your experience and diversify your skills.
- Contracting can provide constant stimulation for people who enjoy a diverse working life.
Talk to your Michael Page recruitment consultant about the current contract opportunities in your profession.