The financial, professional and personal rewards of working as a contractor

Ireland is one of the fasted growing economies in Europe and there are currently endless opportunities for eager Engineering contractors, particularly across the Pharmaceutical, Biopharmaceutical and Medical Device manufacturing industries.

Currently, an estimated  20 to 30 percent of the working-age population, are involved in some form of independent work and this figure is predicted to increase. By 2020, millennials will constitute the majority of the workforce and research has demonstrated that 72% of millennials desire to be their own boss.  It has been predicted that over half of the US workforce will be engaged in independent work over the next five years, with European trends following closely.

For most people, stepping out of your comfort zone can be daunting, but as the saying goes, “nothing ventured, nothing gained!” Working as a contractor, is a well-trodden path and there are genuine reasons as to why it can prove extremely rewarding.

Let’s start with the monetary opportunity-with the highly competitive daily rates available, you are looking at an immediate 30% increase in your earnings. 

You are the master of your own destiny as you have control over projects that you decide to take on in addition to having the freedom to move around, without the shackles of lengthy notice periods that apply to permanent employees.

Working in different environments and adding to your skillset will naturally make you more marketable, which for any ambitious professional, is an opportunity that speaks for itself. 

You are not bound to taking set annual holidays and you are in control of how much time you decide to take off in between contracts. 

If you have the travel bug, don’t forget that many experienced contractors are highly sought after internationally and therefore you will have that opportunity to globe trot should you wish to do so! 

There are of course the obvious tax breaks which a contractor can take advantage of as a limited contractor, you will pay considerably less tax and therefore have a significantly higher take home pay than a PAYE Employee would. 

The bottom line is that working as a contractor can prove to be extremely fulfilling, not just financially but also professionally and personally! So, don’t be nervous! We at Morgan McKinley are experienced professionals and have we have a dedicated Contractor Experience Specialist Team in place, who will gladly advise and support you through your whole transitional journey from employed to self-employed. We have fostered strong professional relationships, with numerous multi-national companies, including Pharmaceutical, Biopharmaceutical and Medical Device industries in Ireland and we have a proven track record of securing lucrative contract roles for our candidates with these companies.

Would you like to know more about the Contract Engineering opportunities we have available at Morgan McKinley? Click here to view the latest job openings.  If the prospect of entering the contractor world excites you, don’t hesitate to get in touch with a member of our Engineering Team
 

Orfhlaith O'Donoghue's picture
Recruitment Consultant | Engineering | Quality & Validation 
oodonoghue@morganmckinley.ie

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