Having worked as a contract Project Manager earlier in my career, here are some tips from my side.
You might be quite aware that contract rates will usually be higher than full-time salary rates.
Other non-financial benefits of contract work include:
- The freedom to decide what type of projects you will accept
- The ability to take longer time off or to spend more time on your personal development
- The opportunity to get much greater depth and breadth of experience than might be possible in full-time roles
- The chance to build relationships across many companies
But before you quit your full-time role and jump into the contract market, here are a few questions to ask yourself.
Are You A Generalist?
Recruiters have the luxury to not only demand project management competence but also to expect that candidates possess specific domain expertise relevant to the needs of a given project.
How Effective Are You At Networking?
Relationship building is critical for Project Managers regardless of whether they are working full-time or on contract. However, if you are not effective at cultivating your network, especially at times when you DON’T need something from your connections, it can become very challenging to find new gigs, especially when the supply of talent significantly exceeds demand.
How Resilient Are You?
NO job is a sure thing. Even long-tenured employees are just a few days’ notice from having to find alternate employment. Having said that, contract Project Managers need to possess the intestinal fortitude to stomach a greater volume of vicissitudes than their full-time peers.
Hope this helps!