date posted: 11-05-2017

Whilst there are advantages and disadvantages on both sides for both short and long term contracts, is there a contract type that can be deemed better than the other?

 

Here we explore the pros and cons of each:

 

                                              pros and cons of long term vs short term contracts

 

Short term contracts 

 

Pros

 

  •  - Short term contracts will offer much more flexibility in terms of moving on to other contracts
  •  - Short term contracts are an ideal way to continue working and gain further experience when longer term or permanent contract have been difficult to find.
  •  - Short term contracts will allow you variety in your working life and the opportunity to experience new industries
  •  - From working in a number of sectors or companies your skill set will improve and increase, and subsequently you will have more to bring to future contracts.
  •  - You may find yourself becoming more productive as a result of the variety of work you carry out; therefore, improving the impression you leave an employer.
  •  

Cons

 

  •  - There is a distinct lack of financial security associated with short term contracts.  This can make it more difficult to plan your finances far in advance
  •  - Short term contracts may also lack the work life stability of a longer contract and may not suit some people
  •  - It takes time to get to know and understand a company and its employees. With short term contracts you may find it difficult to constantly have to acclimatise to a new working culture.
  •  

Long term contracts

 

Pros

 

  •  - Longer term contracts will offer you stability within your working life, you can effectively incorporate yourself into the business and gain a better understanding of the work itself
  •  - From having a clearer understanding of the company and the work it carries out, your work is more likely to be of a higher standard as opposed to having only a basic understanding.  
  •  - You will have a continual income from long term contracts, therefore greater financial security
  • Work-life and financial stability provide the opportunity to plan ahead, a luxury that not is always viable under a short-term contract

 

Cons

  •  - Long term contracts require significant commitment, therefore should issues arise or you become unhappy, you could feel ‘stuck’ until the contract is complete
  •  - The commitment associated with long term contracts can means a lack of flexibility should you want to change career direction

 

In terms of which contract type wins out over the other there is no definitive answer; ultimately it will boil down to personal preference or the professional requirements of the individual contractor.

 

 

 
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