3 ms·
Try contracting / consulting. I feel like contracting has a different set of expectations, there's more of an expectation that contractors kind of do their own
by prewett 4y ago
Try contracting / consulting. I feel like contracting has a different set of expectations, there's more of an expectation that contractors kind of do their own thing. There's also an expectation that contractors are a bit flaky, so a reliable contractor at 80% time is still a solid asset, whereas an employee at 80% time is communicating "I'm not 100% invested". I guess the difference is that with contractors the relationship is clearly understood by both sides to be "we're exchanging money for services" whereas employees are expected to be "resources that we rent". You don't expect your apartment to disappear 80% of the time, but in exchange there's a soft guarantee that the rent is sort of semi-permanent. (Hence why everyone is so upset about layoffs, it reveals that the deal is actually "I expect you to be there 100% of the time, and I'm going to pretend that this is permanent, but I may terminate the deal at any time". The contractor approach is just clearer for everyone.)
- ryandrake 4y agoContracting sounds nice but you have to be making a LOT more than W2 for it to be worth it. Health insurance, HSA, your portion of self-employment tax, 401(k) matching are things you no longer get. Also you have to start doing things over and above that you didn’t have to as an employee, like finding clients, billing, accounting, fighting clients for payment. You need to charge enough to make it worthwhile.
- coffeebeqn 4y agoThis is very true. On the money side just note that your employer is also not paying any of those extras so you need to roll them into your rate. You’ll still cost about the same to them at the end of the day