I recently got a job offer with a very large corporation. I felt like I had found the golden ticket, but the catch was that I would work as a contractor for an hourly wage until I got hired on. My long-term position would be performance driven, which doesn’t bother me, it was mainly the instability of the job.
What happens if I don’t get hired on after the trial period? Eventually, I did have to decline the position after three counters from the company. Right now, I need a job that provides benefits, as I was discussing with my friends and family, if I was married and had insurance through him, I would have taken this job in a heart-beat. It would have been a lot of money and as my friends call it “clean cash.” As a contractor, you do not have anything taken out, so you walk away with a lot of money in your pocket.
I put together a quick Excel sheet to compare what you would be losing at the job with benefits versus the hourly job. These are not the actual numbers I ran, but I ended up figuring out I would lose money if I took the job.
As an hourly employee, you don’t get Federal holidays, snow days, sick leave, paid time off, or if we are in a state of emergency, an hourly employee doesn’t get back-pay.
Here is my Hourly vs Salary Excel cheat sheet to use if you are ever in the predicament.