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Thread: contractor vs. employee

  1. #21
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    Originally posted by JfuckinC
    Why do contractors get paid more? if i went employee at my current rate id take a $8000 pay cut for my after tax income...? benefits are no way worth 8g's.
    Benefits (medical and dental), RRSP contribution/match, pension contribution/match, employee share purchase plans, stock options, vacation pay, stat holidays, additional holidays, sick days, short term disability, long term disability, overtime, etc etc could easily add up to over $8K a year. It depends on the company/position/industry/experience and so on. There's no one formula to apply to all to say contract > employee.
    heloc that shit

  2. #22
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    13% is nothing compared to the benefits employees get at a lot of companies. Just going from where I have worked and my friends' companies:

    - really good healthcare
    - allowances for gym passes, sporting goods, etc.
    - short term bonuses
    - long term bonuses/incentive programs
    - stock options
    - guaranteed holiday (contracts don't always include that)
    - etc.

    Also, you have zero job security on contract. If anything happens in the company, they get bought out, decide to lay off, etc. they don't have to pay you severance so you're always the first to go.

    From everything I've seen, I would do everything I could to become an employee. With the bonuses my previous employer was paying out, it would need to be 30-50% more salary for the contractor to make what employees did. YMMV.
    Last edited by Mitsu3000gt; 05-07-2010 at 03:57 PM.

  3. #23
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    the contractors i was working with were making 25-35% more at a large EPC

  4. #24
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    IMO contractor is the way to go but a 13% difference is WAAAAAY to small, so I would just be an employee.

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