I'm out of touch with current contract rates and salaries, but when I switched from contract to full time in 2012, I figured that a nominal pay cut was actually

I'm out of touch with current contract rates and salaries, but when I switched from contract to full time in 2012, I figured that a nominal pay cut was actually a 30% raise based on the full time perks: paid vacation/holidays, 401K, stock purchase plan, paid healthcare (this was before Obama care) etc.