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Contracting: Difference between revisions
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<li>Whats the difference between working as a contract and a standard (PAYE) employee?</li> | <li>Whats the difference between working as a contract and a standard (PAYE) employee?</li> | ||
<li>What are the risks involved in contract work?</li> | <li>What are the risks involved in contract work / Is contracting for me?</li> | ||
<li>I want to get into contracting. What type of company do I need to set up?</li> | <li>I want to get into contracting. What type of company do I need to set up?</li> | ||
<li>What do I do about tax?</li> | <li>What do I do about tax?</li> | ||
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== What are the risks involved in contract work? == | == What are the risks involved in contract work / Is contracting for me? == | ||
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'''Contract work is for you if:''' | |||
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<li> You are good with people. Contracting is more about being able to sell yourself then a standard job. </li> | |||
<li> You know your stuff, and can communicate it effectively.</li> | |||
<li> You work well under pressure.</li> | |||
<li> You can pick up new concepts and ways of working quickly.</li> | |||
</ul> | |||
'''Contract work is not for you if:''' | |||
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<li>You have no savings, or are bad with money. You will be paid more, but the risk is that your contract may not be renewed. You need to be able to budget.</li> | |||
<li>You are risk averse. There is an amount of gambling on getting a contract extension, or a new contract. If this will completely stress you out, or you have a huge mortgage to pay then it may be better to stick to a stable job.</li> | |||
<li>You're a "clockwatcher". Contractors are expected to earn their keep. If you hang around waiting for the day to end you probably won't last long.</li> | |||
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