Advantages of Consulting
What are the advantages of accepting a contract position?
Many job seekers face the choice between pursuing contract opportunities or salaried positions. Here are a few of the differences between these two types of employment:
Consultants generally earn higher wages than their salaried counterparts – this includes independent contractors working 1099 or Corp-to-Corp. By pursuing a series of contracts, consultants are able to accelerate their earning potential while gaining exposure to new skills and business contacts.
Speaking of choices, individuals on contract can work on a Corp-to-Corp, 1099, or W2 basis.
Just like working a salaried position, consultants who are W-2 employees of a company like The Select Group have their payroll taxes deducted each pay period and can even participate in group benefit plans when they are provided.
1099 or Corp-to-Corp consultants do not have payroll taxes deducted from their paychecks, giving them immediate access to their earnings for investing or spending. One difference to note with this type of consulting is an increased level of responsibility on the consultant’s part to pay all of his or her own taxes at the end of each year. Connecting with a CPA or accountant can be a huge help to 1099 and Corp-to-Corp consultants.
Building Skills & Contacts
Consultants often work projects that require specialized skills, quick turnarounds, and high-level domain knowledge. Since many companies cannot meet all their needs with existing personnel, consultants have access to a variety of projects. This helps consultants gain exposure to cutting edge skills and technologies more rapidly than salaried employees.
As mentioned earlier, pursuing contract opportunities provides unique exposure to a variety of organizations, management styles and business contacts. This kind of on-the-job networking can open doors and accelerate career advancement. Of course, salaried employment within a single company has upsides as well. However, with recent shifts in job trends the benefits of a longstanding career with one organization are diminishing.
The Select Group Advantage
We know how important it is to make the right career move. Whether you are pursuing a contract or salaried position, our team will take the time to get to know your unique skill set and understand where you’ve been professionally – and more importantly where you’re aspiring to go.
The Select Group is one of the fastest growing companies in the industry. Our team of experienced Recruiters and dedicated Account Managers will work hard to ensure your career progresses. When you accept a position through us, you join the vast network of consultants whom we consider family. We will do everything we can to support you during your tenure with The Select Group, and to help you transition when it’s time for something new.
Submit your resume and take the first step towards your new career!