Contract Jobs
Pros:
Exposure and experience with wide range of companies and projects
Scope for extensive networking
Flexibility in how one manages their time
Higher pay rate as compared to a full-time employee
Billable hours mean pay proportional to number of hours invested
Freedom to pick what to work on
You are selling yourself and your services, not merely advancing an employer’s interest
Cons:
H-1B visa stamping issues.
Extensive effort required in marketing self, by setting up website and cultivating contacts
Contractors are the first to get laid off if the company decides to cut down the costs.
No steady/guaranteed income
One needs extensive experience to start as a consultant
Must invest money on training from own pocket, to keep abreast with latest developments
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Full Time Jobs:
Pros:
Steady and assured monthly income
No problems during H-1B visa stamping. (I`m a full time employee and My visa interview was just 30 secs!)
Peace of mind and stability. People with families/kids would prefer it.
Paid vacation and sick leave
Health insurance benefits
401(k) benefits
Employer will pay for your training
Scope for advancing in terms of designation and salary
Cons:
Paid less compared to contracting jobs
Overtime hours may not always be billable
