Not ready to jump into another IT permanent job? There could be multiple reasons why an IT contract could be best suited for you.
Life changing events can be altering the way you think about work. A death in the family, a divorce, a move, a life transition, an unexpected downsizing, a closure, or even an entrepreneurial dream may be driving you to look at alternatives to a permanent placement.
An IT contract may be perfectly suited for you and contract positions have become the norm for many IT professionals. When you have highly specialized technical skills and you are the entrepreneurial type who likes to choose their clients and work based on results, then this is the perfect solution for you.
You will enjoy reduced taxes, more time and even more opportunity. Here’s how:
1. Pay your own taxes. If you are incorporated, you can save thousands of dollars in taxes by declaring many of your expenses such as your home office space, travel, car mileage, meals, hotels, and even the office space in your home. Ask your local tax accountant for the advantages of incorporating vs. operating a registered small business in Ontario.
2. Accepting a contract may also be your ticket into the corporation of your dreams. Sometimes there will be a contract position several months BEFORE the long-term position is clearly defined and becomes available. Also, you may want to think about it this way: companies like to date before they get married. It’s sometimes a guilty pleasure to court your future employer. What better way to improve your street cred and build your mojo along the way? This is how leaders are often groomed. I highly recommend you peruse our Julie Cox Blog to learn The 7 Steps to Increase Your Market Value Before Hunting for a New Job.
3. Besides the tax benefits of working on contract, there are the critical pleasures of working for yourself including: choosing your clients, firing bad clients, scheduling your own hours, building your business and accepting multiple contracts, building your wealth, accumulating knowledge, building your circle of influence, scheduling your own vacation time, more time with family, etc.
A career driven IT professional seeks a long-term permanent position for the purpose of finding financial stability and a corporate family. This is where you can ultimately grow, plan a career strategy and work with Human Resources Professionals to help you reach your next level. Often times, your next career decision will be a critical building block to a trajectory that you desire. It offers the security of a predictable salary, often accompanied by benefits and vacation.
Today, looking for an IT job in Toronto or Corporate Canada is like looking for a tribe you want to belong to. It’s not only a career choice but a lifestyle decision. To find an exceptional workplace which welcomes diversity and inclusiveness with a culture that is both inspiring and fun is very possible. There is heavy competition to find outstanding IT professionals in Toronto, and this is why we place IT Candidates with clients that offer a range of diversity initiatives for both men and women. And, that’s why many employers turn to recruitment agencies Toronto.
The Top 100 Employers in Canada achieve the highest standards of excellence in employee conditions and participates in the HR Best Practices. You will also want to measure if a company is the right fit for you by learning about their views on areas such as leadership excellence, manager effectiveness, supporting productivity, career development and recognition.
However, do not overlook the opportunity to work for a small business in Toronto. You’ll often find the conditions more flexible, nimble and the environment more fast-paced, multi-faceted and often offer more opportunity for loyal employees to grow with the owner. Immeasurable rewards can come from being mentored by the owner, learning how to put out fires, often adapting quickly to change, and learning entrepreneurial skills not offered in corporate structures. Entrepreneurs thrive on risk. Their mantra often looks like this: the bigger the risk, the bigger the reward.