Contracting – when is the right time?

When is the right time to begin your journey into the contracting world as Quality Assurance Professional?

This is a question I have been asked many times over the years, and while it is a personal choice for many professionals, the pros certainly outweigh the cons.

However, there is a lot to consider before making that transition, especially in QA where you will be thrown in to business critical assignments working in highly pressurised environments.

What you need to consider

INCOME– One of the most alluring benefits of contracting is of course remuneration. While the going rates for consultants can be lucrative, you will need to take in to account that there could be times in between contracts where you aren’t working, so you need to ensure you’re financial stable.

FAMILY– contracting can often mean travelling and staying away from home for longer periods of time. This can be a big commitment which can be impactful to family life and needs to be discussed

COMPETITION– there are plenty of seasoned Quality Assurance contractors in the UK and our clients tend to choose the experienced consultant for critical projects.

EXPERIENCE– do you have the foundations in place to offer your services as a business- solid technical experience, business acumen and soft skills to deal with the demands from contracting?

IR35– since the tax legislation change in April 2021, a lot of contractors are working via Umbrella companies and not seeing the financial benefits of owning a Ltd Company. Could you be financially better off staying in a full time employment?

These are just a few things to consider before taking the plunge into consulting and there are plenty more moving parts which you need to think about………however it’s not all doom and gloom!

Commencing your journey into the contracting world can be extremely rewarding with many consultants vowing to never look back!  

The pro’s? Be your own boss, pick and choose the companies/projects you want to work on, lucrative contracts, the opportunity to develop your experience working in varied roles, flexible working……these are just to name a few.

With 2022 around the corner, maybe now is the time to start thinking about your future plans…….QP training? Internal move in to management? New company, new dosage form? Contracting?

AssureBio’s number one objective is to provide trusted career advice, we are inspired by any candidate with a passion of developing their talents and achieving their goals.

Please reach out and let us know your aspirations, confidentially of course, and receive tailored advice to explore your future options Contact AssureBio.

IR35 for Self Employed

Our goal here at AssureBio is to enable our clients to attract and retain the best talent to help organisations remain competitive. In order to do this when hiring Contractors, you must have a comprehensive IR35 compliance process in place, and this is where AssureBio can support.

We have invested in a market leading IR35 compliance solution designed to provide businesses and contractors with ultimate peace of mind. The solution combines the perfect balance of human expertise and automation to provide clients with fast, accurate determinations every time.

For more information on IR35 for Self Employed, get in touch.

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