12: Permanent or Contract – what’s right for you?

Choosing whether to go contracting or stay in a permanent project management role isn’t always that clear

In this podcast we discuss some of the merits of permanent and contract roles as a project (or program) manager, and consider the factors that you might want to consider when deciding what’s right for you.

There are a number of factors to consider: These include – how much experience you have, how specialist you are and whether money is your main driver? And whether you fit in with the culture of a company.

Show notes:

PERMANENT

• base salary
• company car
• pension
• other fringe benefits
• training (usually paid for)
• progression/transition
• mentoring
• redundancy
• security/stability
• experience depends on employer

CONTRACT

• IS usually paid more
• admin hassle
• need to manage your own money
• keep a buffer (both for the taxman and in case you are on the bench) min 6M but ideally 1yr
• take renewals – evidence of this shows competence
• will depend on the amount of risk you want to take
• exposure to different ways of working and cultures
• easy to leave a nightmare role
• some people just don’t feel comfortable with permanent employment and the obligation that brings
• you may get the rubbish jobs
• can be a good option to see if you like the culture and then move to perm
• IR35 – a UK challenge
• fixed term salaried role – not such a good deal for you
• agency ‘directly employed’ model – ditto