I currently have a full-time job, but my company is thinking of turning me into a Contract/Consultant due to the fact that I'm now in a different city and have to work remotely.
I know usually Contract positions are hired through agencies, in this case since I'll be dealing directly with my company, I told them that I'm only going to charge the same amount as if I were to get a Contract job from an agency, this way I'm still getting a competitive rate, and my company gets to pay a lower rate (no agency to collect a cut).
Some background facts:
I have a typical team - some are keener's, others not so much, the tech lead/manager try to do their best to achieve deadlines, which means work load is not always spread out evenly, but this is probably true for any team out there.
I enjoy my work so far as a software developer, I have a lot of responsibilities and I'm handed meaningful work most of the time.
My team members are mostly young, just like me, ideally I'd like to have experienced senior developers/architects on the team to bounce ideas with, but so far that hasn't happened.
Our team produces desktop applications written in c#, this means no web applications are involved, I sometimes wonder if this means I'm "pigeon-holed".
Back to the Contract possibility, I have the following concerns:
Would this actually be a good career move? (this is my biggest concern) As our HR pointed out to me, such a Contract position can be terminated once they decide that I'm not needed anymore, or if the company needs to cut budget, after which I'll have to look for new work, will "Contract/Consultant" on the resume hurt my job-searching? (I'll be doing more architectural / design work once I'm in this new Contract role)
I'll be working remotely most of the time, I wonder if this would hurt or help my growth to be an architect.
Should I be a sole proprietor, or should I get incorporated? What would be the advantage of either?
There will not be any medical/dental/other benefits (basics are covered by OHIP Canada), should I look into buying private insurance? If so how expensive would it be?
My company is looking at putting on restrictions such as: I will not be allowed to work overtime (cannot charge more than the normal # of hours per day), I will need to pay for all expenses (other than equipment) such as travelling and courses <- I'm fine with the 2nd one, is the 1st one normal for Contract positions to be ask to complete your tasks but without any overtime?
Does the above sound familiar to anyone? Any suggestions/advices you can give me on what I should think about / watch out for?