Flexible hours, higher rates, building a wide set of skills. These are just a few reasons why so many talented professionals in the Data Science industry want to become a contractor.
More companies are seeing the benefit of employing contractors over full-time staff. Companies will use contract Data Scientists when facing particularly busy periods. Or when they need more hands to get a project over the line. They can also help fill a gap for a particular set of skills a team might be lacking. So, what are the benefits of contracting?
Industry exposure
As a contractor, you will work for a diverse range of companies and organisations. You will find that this is something employers will look for in a contractor. This is because you will have a wider skillset and bring over new ideas. You will also learn how to use different techniques in a variety of ways. Allowing you to develop your skills and knowledge as a Data Scientist.
Culture is a hot topic right now in the workplace. All companies operate differently and contracting gives you a chance to find out what works for you. It’s worth noting that this sort of diversity in your workplace will keep you stimulated in your role too.
Networking
As a contractor, you are ALWAYS networking. Over time you will build up a large network of connections as you move from place to place. Including meeting leaders of industry along the way! Meeting new people will help boost your confidence. You’ll never be short for a reference, either. The more contract work you take on, the more your referrals and recommendations will grow. Providing you do a great job, of course. This is a great benefit for personal and professional development. It can also lead to great friendships too!
Challenging
We speak to people time and time again who say they want to leave their current position because the work has died down, the projects are no longer challenging enough, or they’re a bit bored and stuck in the same routine. But, as a contractor, you won’t find any of these an issue – deadlines come thick and fast and problems need to be overcome on the fly. It suits people who like to be busy and make fast impacts in a short space of time.
Job satisfaction
Job satisfaction is often overlooked when employees receive a great paycheck and perks. As a contractor, you will work with companies that need solutions built and delivered fast. You’ll see your direct input going in and making a difference.
When it’s done, it’s done – and that is really rewarding!
Flexibility
Okay so some days, you’ll be working flat out to meet deadlines. But on the flipside, you’ll also have times when you can work remotely or from home. As contracts are often based on finishing a task or project within a set time frame, its less about where you work or what hours you do. This gives you the chance to organise work around your personal life, not the other way around – as it is for most people! You can dictate how long you take off between roles. We’ve known plenty of contractors that make enough in the winter to take the whole summer off and spend time with the kids. It offers a whole new meaning to ‘work-life balance’.
Remuneration
One of the most attractive factors of contracting is money. As a contractor, you’re earning potential is higher (if you are good). On average if you keep in work all year without gaps, take-home pay can double that of a salaried position. Many contractors are set up as Limited companies and there can be tax advantages associated with this. You can claim expenses for work-related expenditure, and find greater tax breaks depending on your bracket. But be careful as we’re not accountants and definitely don’t advocate tax avoidance!
Sound good? If you’re thinking of getting into contracting, or if you’re a contractor looking for your next challenge – we can help with your search!
