DoMJoLLy

Thinking of quiting my permanent job and going contracting. What are the pros and cons of doing this and whats the best composite company thing i've heard about?

TIA

DoM

MJW

Limited post by the looks of things.

DoMJoLLy

LOL

TurboKitty

Pros:

Contract jobs tend to pay more than permie jobs (although after you factor in holiday and sick days, plus paying accountants, various forms of insurance, etc you may be no better off)
Short term contracts can be a bonus if you get bored easily
More chance of flexible working arrangements


Cons:

Not much in the way of job stability and lots of uncertainty (living month to month at times, with no idea if you'll be working in a few weeks)
Have to pay for your own training
No sick pay
No holiday pay
Need an accountant, and also need to learn the basics of running a business
Need various forms of insurance, (if you are work as a limited company you'll need employer's insurance)


Personally, I am a contractor through and through. I loathe being a permie, but contracting just works for me, despite the uncertainty. It doesn't suit everyone though.