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Does anyone work as a Proj Mgr on a contact basis?

I have a FT salaried job, but have a great opportunity (same line of work) to work fora highly reputable employer on a 7-month contract (much higher pay), but am nervous to make the leap.

We cannot survive on DH's income alone and thus I will definitely need to find another job or contracted work. While there is a "high possibility of an extension" after the 7-month contract, there is no guarantee I will have a job.

Worth it? Not worth it?

I really don't know what to do...

Re: Does anyone work as a Proj Mgr on a contact basis?

  • The way hiring is now, I'd stick with the FT job I have now.  The job security would be more important to me than the higher paying temporary job.

     

    When we hire subcontractors, the customer always tells us there's a "high possibility of extension or full-time extension" but it rarely happens...  

    Visit The Nest!
  • Thanks you just really helped confirm my decision.
  • I second staying with a secure full time job, the market stinks right now. I had a contract that was supposed to be renewed, but wasn't and now I have been unemployed for over a year now.
  • Someone (a career counselor, recruiter or HR person -- can't remember) once advised me to never leave a F/T position for a temporary (or in your case contractual) one. Unless you can afford to be unemployed after 7 months, I would not make the leap at this time. Other opportunities will present themselves at some point in your career.
  • How much more money would it be? I'm considering a similar move and thought of it this way: if I take a 12 month contract that pays 4 times more than I make now, that gives me 3 years to be unemployed and find a new job and still be in the same financial situation as if I stayed where I'm at for 4 years. 

    I am thinking more about work with a consulting firm instead of going it alone though from what people have said here. 

  • imagebunnyfriend5:

    How much more money would it be? I'm considering a similar move and thought of it this way: if I take a 12 month contract that pays 4 times more than I make now, that gives me 3 years to be unemployed and find a new job and still be in the same financial situation as if I stayed where I'm at for 4 years. 

    I am thinking more about work with a consulting firm instead of going it alone though from what people have said here. 

    Definitely not 4x more than what's am getting paid now..l think more like 50%.  If I were to get getting paid 4x more, I would consider it, but I cannot risk it for a 50% pay increase.

  • A lot of it depends on the job market in your area. I live in the DC area, the likelihood of me finding something at the end of the contract is higher than someone in an area with less opportunity.

    I would only take a short term contract position if you are already looking for another job and are trying to get out of an awful situation. That short term could bump up your starting salary in your next position and buy you some time to look.

    If you are happy in your current position, I would definitely not leave for a short term contract. 

  • imageclevebride2006:

    How much more money would it be? I'm considering a similar move and thought of it this way: if I take a 12 month contract that pays 4 times more than I make now, that gives me 3 years to be unemployed and find a new job and still be in the same financial situation as if I stayed where I'm at for 4 years. 

    That isn't taking into account a huge (possibly damaging) gap in your resume.  After three years it's not likely you could get hired at the same level again.

    I realize this is a hypothetical situation, but that does need to be considered. 

    image
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