Reply to post: Freelance job security

'My dream job at Oracle left me homeless!' – A techie's relocation horror tale

Sir Runcible Spoon Silver badge

Freelance job security

"and if that job had a chance to be more permanent, would have taken it."

Should have stayed contracting, best decision I ever made. I've had more job security since going freelance than I ever did as a permie, since it's all an illusion anyway. At least being freelance you know what the risks are and can mitigate them (which you typically do with a high day rate and only pay yourself a reasonable salary/dividend - that way your company always has money in it to pay you if you are between contracts).

You also know to have 6 months living costs in the bank, just in case.

All that extra money from being a contractor shouldn't really be used to fuel a rock-star lifestyle (unless you want it to end like one too) - it should be used to purchase safety nets.

The upshot of contracting is that you typically end up working on new projects (fixed budget/timelines) and often get to play with new toys and keep your skills up for free, which in turn makes you more employable which provides you with a solid reputation upon which to raise your rates.

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