Are contract based jobs a safe bet?
Hey Folks, I recently got a job offer from a US based finance company. They do not have any subsidiary in India and outsource the IT half to a team here, which I will be a part of. The organization specified that this will be a contract based role, and that either party may terminate it with no prior notice.
Is it a good idea to join this organization? The pay is very good, almost 4x my other offers, but I am worried about job stability and the perks i lose if I am not an employee.
No one knows about the future. Generally before layoffs , hiring freeze happens. You will make good money if no layoff happens. But if layoff happens you might have to job hunt again. So you decide, what's more important currently for you.
The point of contract jobs is the flexibility it provides and not in terms of job security. Hence, this could be your second job, if you can manage.