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Please click on each question to view answer.
Should I Become a Consultant?
A major trend in today’s work world is FLEXIBLE STAFFING. To
supplement core staff, companies are hiring consultants or specifically qualified people
to work on a temporary or as-needed basis.
Technical Consultants Offer Special Skills
A consultant is someone whose expertise adds specialized skills to a client’s workforce. In the
high-tech arena, clients use consultants to handle unique technology assignments, manage
technical projects, develop and/or install advanced systems, rescue efforts gone astray,
supervise and train in-house staff, or solve a variety of challenging business problems.
Assignments can be short, medium or long term. Some can lead to permanent positions.
Skills Sets
Information technology consultants have skills in various information systems disciplines.
These include LANs, telecommunications, database specialties like performance tuning or DBA,
or specialized hardware or software technologies.
Experience & Expertise
The value of a consultant in these disciplines depends on the length of experience, technical
depth, and on how well the individual keeps skills and knowledge up to date (classes taken,
certifications received, technical journals/trade press read, articles published.)
High-Demand
Skills High-demand skills will command higher rates than generic skills. These high-demand
skills change from time to time as the market (i.e., the need for certain skill sets) changes.
A consultant is always vigilant of trends and willing to retrain for new technologies.
Can Do
If you feel that your technical skills are sufficient to meet client needs through consulting
assignments, you can choose among the approaches below.
Which Employment Status Would Work For Me?
Options
There are three ways you can work as a consultant. Some positive aspects and a few of the
downsides of each are discussed.
Full-Time Employee
This method carries the least risk. As a full-time employee, you are sent out to fulfill the
company’s consulting contracts. These are bid based on the company’s specialty (management
consulting, accounting & finance, public relations, training, etc.). Assignments could be
for a day, a week, a month; local or out of town.
Annual Salary
Being full-time, you receive regular company benefits and an annual salary. Business issues
(taxes, insurance, social security, etc.) are handled by the employer. You get a flavor for
what consulting is like, and you may get into the proposal-development side of getting more
business for the company. On the other hand, many people who opt for consulting have already
decided to be on their own in some fashion. They want to get away from the "politics and
bureaucracy" often associated with larger organizations. They prefer to select their own
projects and contractors.
- Temporary Employee for a Company (such as Mindbank) That Specializes in Providing Qualified
Professionals to Fill Specific Job Requirements
Under this approach, you are viewed as an independent consultant who has affiliated with an
employer/broker. This company markets you and places you on assignment as a consultant. The
client pays your employer who then pays you based up on an hourly consulting rate for your
services.
Regular pay
During your assignments, you receive paychecks on a regular basis from your employer and a
W-2 at the end of the year for tax purposes. Deductions taken are the taxes required by law
and insurance premiums or other benefits, of offered.
Low Risk Pick & Choose Earn More
Working on this basis offers the flexibility and "look and feel" of being in business for
yourself without having to incur the risks, costs and responsibilities of owning and managing
your own business. You may be selective in your assignments, work periods, hours, and location.
You may be able to telecommute. You are paid for the hours you work, which may enable you to
earn more than you would with a fixed, annual salary.
Do The Best
Your primary responsibility to your employer is to interview with the potential client and
once hired, to do the best job you possibly can for the client. Mindbank, or any broker, will
have expended a great deal of effort and money to persuade the client to utilize (a) a
consultant and (b) you. A poor job by a consultant usually loses the client permanently for
the broker and negates the consultant’s chances for another job opportunity.
Continuity
Unless another assignment has been arranged, a temporary employee/consultant goes off the
payroll when the project ends. However, a project end date is a known factor, and you can plan
for time between projects. You can carry independent insurance or be covered under a family
member’s insurance plan. Also, the higher hourly rate you command as a consultant will usually
compensate for holidays, vacations and time between assignments. A job well done is the best
insurance for another placement. In addition, partnering with a company such as Mindbank keeps
you networked in the consulting community. Often Mindbank consultants transition from one
project to he next with no down time.
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