When I first started contracting back in 2007 as a Test Analyst, I was battling with the thoughts, "Do I have enough experience to do this?". Then I met up with one of my ex colleages in a local chicken shop, we love these chicken shops in the UK, well at least we do.
He was explaining to me how he was planning to by a second hand Porsche in cash from the savings he made from IT contracting. I was gobsmacked! Here I was with just enough to pay for the chicken lunch and he was doing very well.
The thing that really got to me, I worked with him for years as a graduate tester on a permanent salary, and I knew I was just as good as him, if not better. It just made me feel, if he can do it, so can I.
How do I get Into IT Contracting?
The idea of becoming a contractor is appealing and enthusiastic especially for people who work as employees. However, it takes some steps before you become a professional IT contractor.
Ask yourself if it is the right thing for you. Before you resign from your current employment, research what other contractors in the industry feel about it. Find out if there is a possibility for regrets or there are chances of developing your revenue generation. It is apparent that contractors enjoy financial independence and freedom than what any form of employment can do.
New ventures have their ups and down and you have to develop enough strength to help you overcome them. You’ll be venturing into the business alone, and you must have the capacity to negotiate your way in the competitive industry. To make an informed choice, it is wise if you read and understand the pros and cons of IT contracting.
Get the right skills and materials before you start soliciting for contracts. IT involves technology and different companies and institutions that you will work for need professional data input and output experts. Acquire the best academic qualifications on Information Technology because potential companies hire contractors based on skills.
Just remember, most contracts are charged according to the level of skills required and the demand for such skills, but you must learn the best way to charge as an IT contractor.
What Types of Companies Recruit IT Contractors?
IT is valuable in financial, human resource, logistics, business intelligence, and manufacturing industries, to be honest almost any industry these days. These companies need contractors that can help design different applications that will enhance efficiency in their businesses. As such, most of the organizations require IT contractors, to develop programs, install and maintain them.
IT recruiting companies are several, and they all look at the contractor's technical skills before hiring them. However, working closely with different recruitment agencies like oxford international can create greater chances of getting hired. Companies across all industries look for freelance IT contractors in agencies where if they are impressed by your skills they call you for an interview.
What is it like being a Contractor?
As a contractor, the company or people that have hired you look upon you to deliver their projects to their expectation. This gives you a sense of responsibility that drives you into giving your all in the contract.
In all honesty, being a contractor is really not much different to being a permanent worker, you do all the same tasks. The big difference is you don't have the security of long term work and typically get paid substantially more for that risk.
Do I get Sick Pay if I am an IT Contractor?
If you are working as an independent contractor with no company you are self-employed. It is mandatory for all companies to offer their employees sick pay when they go on sick leave. However, such a scenario cannot apply to you because you are not their employee.
So, the short answer is no, you will not get sick pay, this is part of the risk of being a contractor, hence the reason you are rewarded for this risk you take by getting a larger rate of pay.
Am I Eligible for Holiday Pay as an IT Contractor?
A contractor is independent and does not share his or her financial responsibilities with company that has employed him. Just like you submit your tax returns and plan your contract finances, you are the one who is responsible for your holiday pay. The employer does not care on how you spend your money as long as you deliver the project as per the agreement.
Contractors are not entitled to most of the benefits that other employees get from their employers. Therefore, if you want to go for a vacation, you must do your math right to ensure there is enough money to complete the project and pay for the holiday.
I have worked for many years as an employee and nothing is more enjoyable than job security. However, As an IT contractor, the pay rates are so much more, in my opinion it just makes sense to contract instaed of being permamnent, as long as you feel confident in what you do and feel you can deliver value to your client.
You meet new challenges every day which makes you strong and motivates you towards performing better. You too can become a professional IT contractor if you believe and push yourself.
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