Dr. Michael Bisconti
BETTER OFF AS A PERMANENT EMPLOYEE
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A consultant would be better off as a
permanent employee for several reasons. FRIENDSHIPS & ASSOCIATIONS First, permanent employment allows you to
build deeper, more fulfilling, and more lasting friendships and professional
associations. Consultants move from
company to company and miss out on these deeper relationships and
associations. SOPHISTICATION & EXCELLENCE Second, consultant work does not allow one to
develop their work to the highest level of sophistication and
excellence. The work of consultants
is generally continued by employees of the client. INSURANCE, VACATION, HOLIDAYS, 401k PLANS,
PENSIONS, PROFIT SHARING Third, there is the fact that consultants are usually
not provided with medical, dental, vision, disability, and life insurance,
paid vacations, paid holidays, 401k plans, pension funds, and profit sharing
by the consulting firms that employ them. LESS STRESS Fourth, consultants have extra stress to deal
with. Clients believe that
consultants must provide more than employees. This belief arises from what clients believe are big fees
earned by consultants. ACTUALLY, MOST
CONSULTANTS EARN NO MORE THAN EMPLOYEES.
The reason is that part of the client’s fee goes to a consulting firm
and neither the consulting firm (in most cases) nor the client (in all cases)
has to pay for medical, dental, vision, disability, and life insurance,
vacation, holidays, 401k plans, pensions, and profit sharing (as stated
above). WHY THEN BE A CONSULTANT There are only two reasons to be a consultant: 1. You cannot find permanent employment. 2. You are in need of a large amount of cash in a short period of
time and you, possibly, can meet this need through contract work. Of course, over the long haul, most consultants
earn no more than permanent employees. MORE TO BE SAID There is more
to be said. We will expand this
article if the opportunity to do so presents itself. |