Re: Contracting Experiences

[Suzanne Pyle <comline -at- GREENNET -dot- NET>]

Tracey, I'm wondering if you could tell us during a typical year, how much of
your work is direct (1099) client work, and how much do you obtain via a
recruiter (W-2)?

Suzanne

Moore, Tracey wrote:

> A good point was made that contracting is largely dependent upon one's
> personality. People always assume that because I am a contractor I make
> TONS of money. Well, that's not the case. I make slightly more than I
> did as a captive employee. I don't get paid for time off, sick leave,
> etc. I have to pay my own expenses and benefits.
>
> As a contractor, I often spend a lot of time meeting with potential
> clients discussing a  proposed project, doing lots of follow up, seeking
> out new work, all of which I don't get paid for. I also have to pay for
> my own educational expenses, very rarely will a client send you to a
> class or purchase training materials--they expect you to bring to the
> table what they need.
>
> As for experiences with recruiters: I have had the "bench time" offer,
> only to have them renig just before hiring me, stating they only do that
> for this title or that title. I wouldn't count on bench time. If you get
> it, then be pleasantly surprised.
>
> If you have to work on the client site 40 hours a week, it's very much
> like a captive job. Every contract I've had through a recruiter has been
> like this. It offers less freedom than a contract you obtain on your
> own, where you can define your requirements.
>
> You inquired about taxes. If you go with a recruiter, you'll most likely
> be a W-2 employee as you are now--so there's nothing for you to do. If
> you go 1099, you have to be sure to submit your quarterly estimated tax
> and keep track of all business expenses. When figuring your hourly rate,
> consider your expenses and taxes--that's where people go wrong. I'd
> definitely consult with an accountant or attorney regarding the
> benefits/costs of going 1099 vs. incorporating. It depends upon your
> situation.
>
> So this all sounds so negative, eh? I don't mean to be. Contracting
> offers you something no captive job will: FREEDOM. I have a programmer
> friend who said it best: "I've been offered full-time employment, but
> when it comes down to it they can't offer me what I have: a good hourly
> rate and six weeks off every year."
>
> Good luck!
>
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