Tip sheet: Finding well paid contract work

Posted September 8, 2016

Contract work can be rewarding and highly lucrative, but requires a different approach to permanent or freelance positions.

If you’re going to secure well paid contract work, you’ll need to stand out from the crowd. These are our top tips to help you get started.

Sources

Approximately 80% of contractor work is found via agencies, so you should look to sign up to, and regularly engage with, as many agencies in your specialist sphere as possible.

Job boards and professional social media platforms (such as LinkedIn) are integral resources. But, you may find the best-paid work comes through word of mouth, so take care to nurture your professional contacts network.

Skills

Your occupational skills are your main selling point. Here’s how to optimise them:

Be versatile; businesses usually use contractors to fill odd-shaped holes.
As you develop new skills, don’t forget to maintain your old ones.
Create a contractor CV and tailor it for each individual job application.
Practise interview technique; focus on ability to hit the ground running and solve problems.

Finances

Contactor pay tends to be 50–100% more than rates for permanent staff. But, this could all count for nothing without effective financial management.

Call on one of our trusted and dynamic contractor accountants to help you plan for inevitable lulls in-between jobs by ensuring sufficient cash flow to cover a minimum of three months out of work.

A contractor accountant can help you make strategic decisions by analysing your financial records and providing data on the types of work that are most profitable.

Find out how 3 Wise Bears can help you plan ahead financially and optimise your contractor profits.