Contracting presents an exciting opportunity for tech talents in Thailand to earn more money and have an independent lifestyle.
But what is driving the explosion of contracting jobs, and how can you benefit?
Contracting jobs in the Asia Pacific region increased by 22% year-on-year. Employers are keen to remain flexible during continued global uncertainty.
But an article in the Harvard Business Review found that although some workers were facing issues securing full-time employment, others were choosing this option to widen their skill set, broaden their experience or design a career that provided more attractive prospects.
An Asia-Pacific trend
The shift away from a more rigid and permanent workforce has been happening since the global finance crisis of 2008. But this has magnified as Asia continues to be affected by Europe’s financial woes. The rise of the contract worker is evident not just in Thailand but in Singapore.
“The rising trend of contract and project-based work reveals the changing mindset of employers who are becoming more open to flexible ways of hiring.”
Justin Peck, divisional director at Robert Half
The trend is evident across Asian markets from Shanghai to Singapore. In South Korea the amount of non-regular workers has nearly doubled since 2002, and currently stands at one-third of the workforce.
Technology driving change
A big part of this shift is the influence of technology. Companies like Google organize much of its work into projects which means project team effectiveness equals productivity. Software developers have been following this “agile working practice” for years now.
Developers work in small groups with short-term targets that build towards an end goal. When the project ends, the team disconnects, and members join other project teams. A combination of digitization and globalization are driving the need for greater innovation and better performance to stay competitive. So clearly employers in South East Asia are driving this shift in the world of work.
But what does this mean for contractors themselves?
The Good Life
Most contractors express that the reason they do what they do is because of the freedom. The freedom to work on creative tasks, be their own boss or to have the flexibility to travel when they want. They are able to take longer breaks between short term projects, spend more time with their friends and family and plan their next career move.
A project-based career allows workers to add to their life experience banks and achieve mini-goals rather than working for long-term positions or titles.
Paul Jury, in charge of recruitment and contracting for recruiter Talent2, said:
“Most contractors are motivated to constantly upgrade themselves with the latest skills and expertise to stay at the top of their field. They can also boast a much deeper skill set having worked across a multitude of companies and projects. This means employers are willing to pay higher rates for contractor skills they don’t possess in-house.”
But contracting is not for everyone. It can bring a high level of uncertainty and stress. When thinking about your lifestyle, ask yourself what it is you really want. Ask yourself the following questions. How will this position help me grow professionally? What happens when the contract is over? Is this a temp-to-hire position?
Think about what your ideal career path looks like. Before you sign your next contract, make sure you’re not getting away from what you really want. Check out GetLinks Guide: How to Land a Contract Job.
Money money money
Do contractors make more money than full-time employees? That’s the question on the minds of many tech pros.
According to PayScale research, contractors get around 15% increase in pay compared to full-time employees. When it comes to tech jobs, the number goes up. Developers and Project Managers in Thailand can expect a 50% increase in pay when switching to project-based employment. Most employers offer contract jobs to save on expenses involved in a full-time hire. Since they spend less in other areas, they’re willing to pay better rates, meaning a higher salary to contractors.
It’s not easy to price your work as an Independent contractor. Getting to your own baseline amount depends on many things. First off, you need to work out how much you want to get paid. It’s always wise to do a little market research. Check out the latest salary reports to weight yourself up to others in the industry. Think about how that translates to your previous experience, and how much is that worth? If you got it all figured out – congratulations! You’re on your way to success.
So, would you like to become a contractor? Sign up to GetLinks!
We have hundreds of contracting jobs on the books in Thailand, and a Customer Success team is waiting to support you.
Do you know anyone who would like contract work? Refer them to us here and you can earn 3,000 THB.