August Edition - Austin Tech Leaders Digest

August Edition – Austin Tech Leaders Digest with Coltech

As we welcome in September the end of the year is coming faster then expected – I hope you all enjoyed the summer holidays, but lets be honest its nice to have the kids back at school

In this edition, I want to focus on if you should be considering contract over perm roles.

Contract work is a huge thing in the tech industry, a majority of growth comes from smaller projects that feed into a larger strategy. It offers a variety of benefits such as flexibility and a higher pay so you can manage your time according to you and get the pay you deserve for your specialist skills.

There are many reasons why you should consider contract over perm roles.?

Even in today's fluid jobs market, the idea persists that a permanent position is a 'proper' job while a temporary or contract engagement is a stopgap. It's high time that we rid ourselves of this notion and recognise that the two types of employment status are equally legitimate and the choice between them is motivated by both expediency and aspiration.

Contract work has been a feature of economic life for as long as humanity has traded. Only in the 19th and 20th centuries did the idea of permanent employment gain precedence. The extraordinary upheavals the world economy has travelled in the past 30 years have transformed the employment landscape into a diverse and flexible environment. Working under fixed-term contracts is now a very positive alternative.

When it comes to contract work, tech industry employers are among its most enthusiastic exponents. Much of their business growth involves discrete projects that feed into a larger scaling strategy. Most of the tech giant projects that hit the headlines depend on the contribution of various specialist teams who move on to the next challenge when their current work is done. Hiring specialists under contract is the ideal model.

Why You Should Consider Contract Work

One of the most commonly cited reasons for choosing this employment status is the variety it offers. Most contract roles last no longer than a year; some will be as short as a few months. In a comparatively short time, your resume will be bursting with experience, packing a decade's worth of career development into a year or two of intensive contract working, often with high-profile companies. This may not provide long-term certainty, but it offers you the chance to learn, develop and apply your skills on a broader variety of companies and sectors than you could ever access in any other way.

As a contractor, you can earn more for your time than if you were in permanent employment. Employers pay top dollar for specialist skills because they appreciate they don't come cheap, and because it's not a long-term commitment, they are happier to pay what it takes.

Flexibility is a significant advantage. For one thing, if you're working on a less rewarding project than you expected, you know you'll be moving on before long. At the same time, you're steadily building a network of contacts, and the power of word-of-mouth recommendations plays a big part in securing future work. It may even be that you decide to look for a permanent role in the future, in which case you'll be exceptionally well-connected to do so.

The Negatives of Contract Work

Of course, there are disadvantages. For one thing, if you're a person who prizes job security, then contract work may not be for you. Every job completed means looking for another one with no long-term certainty.

As a contractor, you won't enjoy employee benefits like a paid vacation or sick leave. You'll need to factor these into how you cost your services so you can afford to take time off when needed.

Without a clear plan, it can be hard to follow a defined career path. You're partly at the mercy of whatever jobs come your way, and although, for skilled contract work, tech industry prospects are currently very good, that may not always be the case.

One downside worth considering is your financial status as a contractor. Getting approval for credit or loans can be more challenging if you're not in full-time permanent employment. Lenders take a somewhat old-fashioned view that an employee has a more secure income stream than a freelancer, even though there's no longer such a thing as a 'safe' job. The more successful your freelance career, the more favourably lenders will consider your requests, but it's something to be aware of.

Coltech works exclusively with some of the USA's biggest tech giants, sourcing contract professionals for major projects with substantial earnings potential.

Why not explore our website today https://www.coltech.io/ or call our Austin office on (+1) 512 717 7490.

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