Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

I deliberatley talked about Contractors rather than IT Contractors to widen the scope

By Ashley Carron Subscribe to RSS | January 11th 2012 | Views:

6 Advantages Contractors have over Permanent Staff:

Pretty much all contractors used to be permanent staff as very few go directly into contracting. Also, pretty much all permanent staff have considered becoming contractors at some stage of their careers with some taking the leap and others deciding to stay put for whatever reason. To help them make a decision we have put together ten advantages in being a contractor.

1. The Money is much Better

When a permanent worker becomes a contractor, he or she will usually double their salary. However they have much more than double their available money as their costs won’t have gone up. Someone who previously spent 80% of their salary and saved 20% would now find that they had 6 times as much spare money as they had before, if they doubled their income when going contract.

2. There’s Less Tax to Pay

Whether the contractor is self employed, goes through a Limited Company or an Umbrella Company they will pay less tax than a permanent worker would pay.

3. They Don’t Have to Worry about Career Progression

There’s none of the worries for contractors of annual reviews and whether they will be selected when a potential promotion becomes available. They just take the cash and move on to the next job.

4. They Can Get a Much Better House

It used to be that contractors got turned down for mortgages if they didn’t have three years accounts and the amounts used to calculate their income was only the amount they paid themselves as a Director after all the expenses were taken out. However, now there are specialist Contractor Mortgages companies who can get them mortgages that use their total income as the figure used for calculating how much money they will get for a mortgage.

5. They Can Get Out and Do Something Else More Quickly

As Contractors are piling up spare cash at a multiple of what permanent workers can save they can then use that money in a few years time to get out altogether and do something else.

6. They can use Money to get Money

Most Contractors use the spare cash that they are piling up for investment purposes so that not only are they working for money but their money is working for money too. They usually invest it in the Stock Market and in the Property Market and, provided they invest it wisely, they can build up quite a supply of money. Some use that spare cash to get out of contracting altogether. Others just let the cash pile up and spend it on a better lifestyle. Whichever route they take they can up with a much better style of life, at a much younger age, than their permanent peers.

Ashley Carron - About Author:
For more information on Umbrella Company, Contractor Mortgages and Umbrella Companies. Please visit:-

Share on Facebook Tweet It Stumbleupon this post This post is delicious !

Article Source:

Related Customer Service Articles Subscribe to RSS

Building Societies: Offering attractive interest rates on savings and cheaper mortgages
Published by Martin Crowe on December 16th 2011 | Business
The first building societies came into existence in the late 18th century from cooperative savings. ...
Excellent packing moving and corporate solutions under one umbrella
Published by Abhay Singh on January 6th 2012 | Business
Welcome to a packing and moving company. We solve all the issues related to shifting from planning t...
Real estate investing with mortgages for sale
Published by DANA BATES on May 12th 2012 | Business
This information is there to assist anyone who has plans to buy mortgages for sale. Simply follow th...
Outdoor Trash Cans: for Great Functionality and Style Too
Published by Kilven Jhon on August 25th 2012 | Customer Service
Source construction hard hats that are full brim or standard style from companies like MSA and Bulla...
Mask Respirators: Crucial for Respiratory Protection
Published by Kilven Jhon on August 25th 2012 | Customer Service
Source construction hard hats that are full brim or standard style from companies like MSA and Bulla...
Automatic Hand Soap Dispensers : Heights of Safety
Published by Kilven Jhon on August 25th 2012 | Customer Service
Source construction hard hats that are full brim or standard style from companies like MSA and Bulla...
While Looking for the Dell Support
Published by Dennis Foster on August 25th 2012 | Customer Service
If you are a user of Dell and you are in search of guides for the troubleshooting and the tutorials ...
A Healthier Alternative to Smoking
Published by Alester Wough on August 24th 2012 | Customer Service
If you have been looking for an alternative to smoking traditional cigarettes, you will happily welc...
When to hire Emergency Electrician
Published by William Bruner on August 24th 2012 | Customer Service
You never can anticipate when an electrical appliance will break down or the wiring in your house or...