What is a contracting job?
Contractors are hired by companies to apply their technical knowledge to specific projects being undertaken by a staffing company. Contracting is a temporary position usually lasting twelve months and is a great way to gain experience quickly, work on exciting projects, earn good money with the benefit of enjoying a work-life balance!
Are contractor paid more than staff in the Life Sciences Industry?
Contractors are paid premium rates in comparison to staff due to the temporary nature of their work. Financial gain is certainly a key reason we see people choose contracting as a career choice. With exceptional rates in the market for experienced professionals with specialist skill sets who can support clients during busy project phases.
Staff employees have access to company benefits such as health insurance, pension cover, paid sick days, paid maternity/paternity leave etc. Contractors
are paid a premium rate to offset these perks and must set up cover themselves should they choose to do so.
Calculate your average take home pay as a Life Science contractor with Contracting Plus calculator or Icon’s calculator
Is it easy to find work as a contractor within the Life Science sector?
There has never been a better time to become a Life Science Contractor. Contracting Plus and Trinity College Dublin recently conducted a first of its kind report on professional contractors in Ireland, entitled Ireland’s Project Economy. 91% of respondents within the Life Science Sector, felt their experience was in high demand, 47% believed there would be an increase in the availability of contract work in the coming 12 months and 73% agreed that it would be easy for them to find their next contract.
Will I be made permanent once my contract has ended?
This really depends on the project you are working on. We do see some of our clients offer permanent roles to contractors you then have the opportunity to accept or decline and carry on contracting.
What is the difference between a PAYE & LTD company contractor?
There are two options PAYE or LTD. If you choose the PAYE route, you will become an employee of LSC for the duration of your contract. LSC will manage your payroll, holidays, contract extensions, rate negotiations and any other issues that might occur during your contract. If you choose an LTD company you have the option of setting up your own LTD company through an accountant where you are the appointed director and fully responsible for all financial affairs. LSC will manage all taxes and invoices on your behalf, payment of your invoices, contract extensions, rate negotiations and any other issues that might occur during your contract.
If I start out contracting as a PAYE contractor can I transition to an LTD company contractor?
At LSC we are happy to transition a PAYE contractor to a LTD company contractor (or vice versa) should they choose to do so at any point during the contract.
What are my options when a contract comes to an end?
When your contract ends there are a few options open to you.
1. If you’re happy in your current role LSC will follow up with the client company to negotiate a contract extension
2. If you’re looking for a change LSC will partner with you to facilitate a move to another client site
3. As a contractor you can always take some time off between contracts, LSC will be here to help you find your next opportunity when you are ready!
Can you make a career out of contracting?
YES! In the current market place there is high demand and great opportunities for Life Science contractors. Some of our contractors have been contracting with us since we opened our business in 2003. Depending on projects some contractors often stay contracting on one client site for a number of years and some prefer to move on to new projects.
