3 months / 6 months contract?

[kevinlam]

Hi there,

I am new to contracting and trying to get my 1st contract at the moment. I have a few questions which I hope you could help me with:

1) Does a min 6 months contract really mean they will hire you for at least 6 months?

2) I have a very secure permie job at the moment and feeling that I need at least 6 months contract to make it worth the move, am I correct to assume a 6 months contract is safe enough?

3) I have seen several 3 months contract on offer, but I don't see the point of having them unless I am already on a contract. I don't really want to have the 3 months contract and then back on the bench for another 6 months having come out of a secure permie job.

4) For 3 months contract, do they usually get renewed? i don't see anyone could produce anything useful in that kind of time.


Kevin

[stek]

1. Nope - you can be canned anytime unless the contract is water tight in your favour, which it never is.

2. Never really safe, but I'd go for it, never had a contract curtailed - but will they wait for your notice?

3. If your good you either get extended or get back in in the future. Contracting is a state of mind, a roller coaster ride of a novel, ups and downs, if it worries you stay in permiedom.

4. You are expected to 'hit the ground running' don't expect any learning curve, you need to be productive from day one till the last day. Much like a plasterer, three months to do the plastering it's finished, you go...

[TykeMerc]

If you want security then contracting is absolutely the wrong way to go, it's inherently risky by its very nature.

Contract length and notice periods are pretty much meaningless. If the client loses the budget, changes their mind, changes direction, has permies become available or just decides that your face doesn't fit they can get rid of you instantly.

Even if the client is expecting to extend you and says so on multiple occasions that can change at any point (no matter how much you're needed) it's just happened to me, it's part of the game.

From your post my advice is an emphatic stay in a permie role until your mindset or circumstances change so the risks are acceptable.

[Robinho]

It's not really risky unless you blow all the money you earn as soon as you get it. If i had to i could live for an entire year on about 6 weeks of a typical contract rate.

Jobs are far more volatile yes but you'll be earning a premium for that. As long as you manage your finances correctly there's little risk at all IMO. Of course a lot of that is going to depend on whether you have a wife/kids/mortgage etc or not and of course, if you're any good at your job.

[cojak]

3 month contracts are the norm rather than the exception these days.

And a 6 month contract is only as long as the notice period.

[Jaws]

My contract was originally 2 months and I've been here 3 years so far .

You can probably get a feel for how long it might last at the interview when you're asking about the project & what it is they need.

[Scrag Meister]

3 month contracts are the norm rather than the exception these days.

And a 6 month contract is only as long as the notice period.

Back in November I had a "6" month extension at then clientco, great me thinks.

1 month later I get terminated because of a change in strategy. Luckily I got to work my notice, 1 month.

But as Cojak says, only as long as your notice period, and not always that in some cases.

[kevinlam]

Thanks for the info guys. I do have a bit of a reserve build up over the years and I could afford not to have a job for 3-4 months even now with kids/wife/mortgage

Is termination before contract term common?

[Sockpuppet]

Thanks for the info guys. I do have a bit of a reserve build up over the years and I could afford not to have a job for 3-4 months even now with kids/wife/mortgage

Is termination before contract term common?

I've had one terminated in 5 years of being a contractor. I'd be honest to say that 3-4months warchest doesn't cut it in todays market. You need to be able to last at least 6 months without work as a minimum and closer to a year. If this was 3 years ago I'd tell you to jump for it but now there isn't much work around and you could be left on the bench for a while.

Being made redundant and finding it hard is one thing bringing this on yourself by leaving a secure permie job is another. I'd give it a year or two until the market is better. Probably not what you wanted to hear but probably is best advice.

[northernladuk]

3 month contracts are the norm rather than the exception these days.

And a 6 month contract is only as long as the notice period.

Which is meaningless if they want it to be but thats another discussion and not one to confuse the OP with.