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Advice Needed: Contract vs Permanent employment

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tron05
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Advice Needed: Contract vs Permanent employment

Postby tron05 » Mon, 27 Oct 2014 1:22 am

Hello Everyone

I am working with a IT company with expertise on Banking sector for over 8 years and now feel a need to change job to gain more exposure. I could not find much demand for my type of profile in my current city. And my options are to move to another city in India or Countries having direct connectivity to my home city and short travel. And my preference is to move to nearby countries and hence decided on Singapore due to it been a financial hub and expat friendly policies.

I have got a few calls from consultantcies for contract jobs that says '1 year and extendable'. I have been rejecting them outright, but today gave it a thought. I did some research and have quite a few questions. Appreciate if any of you would help me out

1. Do contract employees get a premium salary compared to permanent employees. How much more should i be quoting against a permanent position of say 120k for similar job and profile.

2. I would be getting married next year. Would i be eligible for leaves for 2 weeks?

3. What benefits would i have to forego when compared to permanent employee?

4. When would i come to know if the employer would extend my employment beyond a year? reason been- I would need a good lead time to find another opportunity.

5. Would it be any easier to hunt for a permanent position when you are on a contract job in singapore than hunting 1 from India?

6. Are there chances of contracts been converted to permanent within the same company?

7. Would my visa expire as soon as my contract expires? Is there a different category of visa for contract employees compared to permanent expats?

Thanks in advance for helping out guys..

Siv
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Postby Siv » Mon, 27 Oct 2014 8:36 am

Looking at your point no. 2....wouldn't it be easier if you moved AFTER your wedding ?

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rajagainstthemachine
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Postby rajagainstthemachine » Mon, 27 Oct 2014 8:54 am

1. Do contract employees get a premium salary compared to permanent employees. How much more should i be quoting against a permanent position of say 120k for similar job and profile.

Ans: Depends


2. I would be getting married next year. Would i be eligible for leaves for 2 weeks?

Ans: Depends on the terms and conditions of the contract you sign,as a contractor I would imagine you would have lesser benefits than a full time employee?

3. What benefits would i have to forgo when compared to permanent employee?

Answer : The Answer to this would be found on your contract letter.

4. When would i come to know if the employer would extend my employment beyond a year? reason been- I would need a good lead time to find another opportunity.

Answer : The Answer to this would be found on your contract letter.


5. Would it be any easier to hunt for a permanent position when you are on a contract job in singapore than hunting 1 from India?

Answer : it is not easy to hunt for a permanent position when you are on a permanent position either. Please take a moment to read through hundreds of other threads in this forum which answer similar questions


6. Are there chances of contracts been converted to permanent within the same company?

Answer: depends, on the employer's discretion and of course on your performance and on the conditions of your contract.

7. Would my visa expire as soon as my contract expires? Is there a different category of visa for contract employees compared to permanent expats?

Answer: your visa expires when your company cancels your employment pass/ S Pass/ whatever other pass that has been issued to you.
There is no difference in visa types between permanent / full time employees.
To get there early is on time and showing up on time is late

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Wd40
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Postby Wd40 » Mon, 27 Oct 2014 10:31 am

In Singapore, typically contract roles expecially if it is on 3rd party contractors payroll is usually lesser than permanent.

If it is direct contract it could be less, same or more. It really depends on your negotiation skills. There is definitely more scope for negotiation in contract roles than perm roles. But, remember not to ask too much, so much so that, you are so expensive that they wont renew your contract, expecially if its at urgent hire they are making. Also banks pay bonuses to perm employees and contractors dont get it.

120K SGD is top bracket, I am assuming you are into some kind of niche like Murex, Calypso, Actimize etc

bgd
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Re: Advice Needed: Contract vs Permanent employment

Postby bgd » Mon, 27 Oct 2014 11:26 am

tron05 wrote:... and expat friendly policies.


Really? I'd love to know what they are. :wink:

Spend some time on this forum and you'll realise that foreigners aren't as welcome here as they once were.

tron05 wrote:1. Do contract employees get a premium salary compared to permanent employees.


Not in my experience. Contractors here, with rare exceptions, are cheap labour. In London you'll get a premium but only with the right skill set and 'City' experience.

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ecureilx
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Re: Advice Needed: Contract vs Permanent employment

Postby ecureilx » Mon, 27 Oct 2014 11:50 am

bgd wrote:
tron05 wrote:
tron05 wrote:1. Do contract employees get a premium salary compared to permanent employees.


Not in my experience. Contractors here, with rare exceptions, are cheap labour. In London you'll get a premium but only with the right skill set and 'City' experience.


years ago, Contract workers used to demand upto 50% premium over permanent employees

then I guess the foreign employers caught up with the truth that perm employees too have not much protection, vs contract employees

A HR manager of a foreign country was visiting recently and his HQ in Sweden had a HR regulations training and the trainer had quipped that Singapore probably is the best place to hire and fire, with less fear of getting sued !!!


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