Yes, but this is technically illegal.That's pretty much what the software or it industry is... employees being classified as contractors to save companies money. I've actually found its the indian firms more likely to give you employee status than American companies
That's pretty much what the software or it industry is... employees being classified as contractors to save companies money. I've actually found its the indian firms more likely to give you employee status than American companies
You will get full time status at a american company but it’s hard af. Especially 6 figs and full time.
I’m a full time web/mobile developer at my company but I had to work as a contractor there for 2 years before they gave me a offer. And you rarely get raises after you are on salary unless you relocate to another office location or you leave the company and come back.
I can’t go back to the freelance life though after being put on salary. There’s nothing like not having to worry about your paycheck being short of having to get my timesheet signed my a supervisor every week. I know on 15th and the 1st money will be direct deposited to my bank account.
And like someone else said, when you are on contract, they usually don’t deduct taxes so when you have to file taxes, you usually owe. Also with overtime pay, you rarely take home much of it cause over half goes to taxes.
Depending on how serious you feel you are about this - finding a way to be your own boss - we should talk, I’m in the exact same mindset (also in the corporate world) and want to become my own boss asap.One more thing, as an aside: The reason why i frequent this subforum is because i don't want to work for anyone til i'm old and gray (i'm 32 right now), so i spent most my free time brainstorming different ways to diversify my income. I work for a cool company [with it's headaches but nothing unbearable] so i'm not exactly looking to climb the corporate ladder. I'm just stacking and trying to brainstorm other cash flow plans. That said, I understand the importance of having stability as far as not taking financial Ls if you ever get really sick or can't make it in, or of just having a 401k steadily building [even though you could always still get laid off regardless of your contract/salary].
So there's that too.
Synopsis:
I've been with my current company a couple years now working contract: $52-53 an hour, 40 hours a week. No overtime and no PTO for vacations, holidays or sick days. And of course, no health care, dental or 401k [I pay for the healthcare stuff, mostly just to avoid the tax penalties]. So basically i can pull upwards to 110k a year but realistically it'll always be somewhat less bc i'll obviously take days off throughout the course of a year.
Mind you i'm healthy, fit, no wife or kids, so all i do is stack up cash. Only debt i have is student loans of course
So my supervisor and I were talking and it was brought up that I was still contract. He said he could make a case to his higher ups for moving me over to salary, but asked if i'd prefer that because it'd mean a lower base pay for the added benefits. He didn't get into specifics bc this was all very informal but I figure it'd be around 80-90k, but with good to great company benefits.
I told him I wouldn't mind finally being able to take a vacation and shyt without losing money lol but now its got me thinking. My folks been told me to get on that salary+benefits train, and so have other people. Esp with the 401k. Obviously if it was the same $$$ amount it'd be a no brainer but I wanted to see if there were opposing thoughts to taking less or how much less?
If they convert you to perm
How many days of vacation will you get?
How many holidays will you get?
Is there a yearly bonus program for staff employees?
What 401k match peecent would you get as a staff employee?
Stock options?
Are there any other things that you can't really quantify that you would gain (less likely to be laid off, quicker promotion, etc?)
How much do you pay for healthcare on your own?
How much would you pay if you converted to a perm employee?
All of this info is needed for an accurate comparison
I'm assuming you're w2 already. Is that correct?
Hang in there breh its rough out there.That contract shyt gets tired after a while (unless you find work promptly after it expires) been out of work going on a month next week with no indication of when my next pay check is plus i suck at interviews
I'll never go perm again, just not worth it. Taxes are lower (Im in the UK), pay is higher, and I can take a month off inbetween contracts with zero problems.