I’m a contractor myself, agree 100% with all points in this video. Can confirm it’s true. I would appreciate another video about this on how to get started
Who is the dude in the background not paying attention to this great content going on right in front of them!! 🤯 On a related note, I lowkey love this quote from Mr.Wonderful "Salary is the drug they give you to forget your dream"
Ive been a data consultant for a year or so now with a couple of clients and the freedom is incredible. Currently though finding new work has been difficult.
Thanks for sharing! Hope to make a video in a few weeks with some interviews with contractors and how they have landed additional work. Hope it will help!
I think you made some great points about contracting but I do think context matters a lot 1) in the US since your healthcare is tied to employment you're screwed as a contractor with respect to that as well as taxes in a few ways 2) Contracting and having your income as business income is prudent but getting clients is easier said than done. In a competitive marketplace it will be difficult to differentiate. In your niche you are a super star but that is not the case for most folks I wager. 3) Cal Newport talks about digital nomads and how lonliness is a huge issue because one thing about "9-5" work and culture is that having time to do things with people and experiences is rooted in our cultural shared schedules. If that doesn't matter to you great but good luck finding people to hang out with on your wednesday off at 3pm otherwise. That said I personally DO want to get into either starting a side business or contracting because its a huge blessing for the educational benefits you mention. Great vid
I've been recently fired after over 5 years. The only one reason was 'cost reduction', so I couldn't agree more with all arguments presented in a vid. Many thanks, Ken for your work.
Not sure what is the situation in other countries, but in Slovakia, good luck to fire an employee unless the company is cancelling the position/role. Contractors have to do way more paper work here - taxes and contributions to health and social insurance (which are mandatory and as a employee you can ask your employer to do all of this for you while he cant refuse by the law). On the other hand you are more flexible and have some perks in taxes
Awesome video Ken, not enough data creators are talking about this! Like you said the rise of contract work is in many ways a win-win for employees and employers. Employees can have more diversified and flexible income opportunities, while employers can optimize their staffing needs. Beyond all that, I feel the flexibility of contract work allows it to be more engaging and fulfilling for contractors.
Ahhh, see when I first saw the title I thought you were talking about contract jobs such as ones through temp agencies. Temp agency contract jobs are not what you want. They have all the negatives of being a contractor but no resiliency. These kind of contractors are the first to be let go, often are paid less, receive worse benefits through the temp agency, and still are tied down to just one place of employment for 40+ hours.
Due to many factors, i have been considering the contractor route. This video puts a new light to the matter. Thanks! Also more on the contracting role would be great!
Hi Ken, it would be valuable for me to get your take on how to build an independent contractor client base. And thanks for this video. It was insightful.
This was a great video! I am fortunate enough to work as a salaried employee for one of the largest vendors in my industry. No mass layoffs yet (although a hiring freeze), and top mgmt actually seem to care about us. With that said, I do want to explore the option of being a contractor/freelancer. So, please do make a Part 2 on the cons and maybe a Part 3 on how to get started and attract clients.
I got my first role in Data science about 6 months ago And recently started looking at working on contracts, though I relaxed because I learnt it could be a bit challenging to start as it is a demanding environment, its usually straight to delivery.... I really enjoy my current company, the manager and the team, I'm learning a lot of new things (good for me) and I appreciate they took a chance on me to allow me start with my visa limitations. My pay is around what is obtainable in my region for a level 5 but its difficult meeting my needs as a family man so I sometimes have to do other menial jobs to patch it up. What do suggest I do, I recently bagged my Ph.D. which should come with its own benefits
I think this video is really needed to spread awareness that other ways of work are possible. Thank you Ken, looking to see more from this topic from you
Absolutely would be waiting to see a video from you on contracting - going to share this with friends, and are you available for one on one mentoring (paid)?
I recommend Upwork! There are people who propose projects and you can bid on them. A good way to get in early in my opinion. Also, doing projects working locally through friends and family is a good way to get a start
