Women in Contracting
Things to Consider

Women in Contracting <br> Things to Consider

If you have decided to make the move to contracting, we promise you that it will be one of the best decisions you will make.

Yes, there will be challenges along the way, but overall, contractors are happier once they take that leap of faith. As a female contractor you might wonder if there are differences between genders (spoiler alert: there’s no real difference) – but there are some considerations that we think are important to highlight.

  • Mind the Gap: According to independent research carried out by TCD, the gender pay gap still exists. However, female contractors have an edge over their colleagues in full time employment as the gender gap is narrower in contracting. In this way, contracting not only gives women more independence, it takes them one step closer to pay parity.

There is greater equality of pay between men and women in the high skilled independent contractor workforce than amongst employees. The average annual earnings gender pay gap is 15% within the professional contractor workforce, compared to the 25% gender pay gap in the employed sector.

  • Headspace: Regardless of gender, when it comes to contracting, you have to be in the right headspace. While you might have deadlines and clients – ultimately, you have the freedom to choose your own hours and work at your own pace. This can be difficult for those who have been used to working under a certain type of manager. Now only you are accountable for delivering your work. In addition, if you are the type of person who enjoys getting things done, seeing a project delivered and looking for your next client or project, then contracting is a great space for you.
  • Getting Paid: When working as a full time employee, you get used to the consistent payment schedules (weekly or monthly). Suddenly, as a contractor, this “security” is replaced with less predictable income (unless you are working on a long term project). The word “security” is used here with inverted commas as extended tenure in the full time employment sector is looking less and less realistic. Over the last four years (what with Brexit, Covid-19 and tech layoffs), I think it’s fair to say that contracting might still be lucrative, despite the assumed risks.While some months might look great, cashflow-wise, there will be leaner months. On a positive note, research has shown that contractors can earn more for the work that they do and this is borne out by the invoices we send for our clients on their behalf and research in the market too. If you would like to see how much you could earn, take a look at our contracting calculator.
  • Work/Life and Life: The ever elusive “work/life balance” has been covered frequently, particularly during the Covid-19 pandemic. There was talk of the “Great Resignation”, followed by “quiet quitting”. Contracting allows for more flexibility, more remote work and often, opens up even more lucrative opportunities, as skilled contractors can now work for international clients – no matter where they are based.
  • Not Easy, Never Boring: Contracting is not for the faint hearted. For those used to working in a company with all the back office support it brings, contracting brings new roles and responsibilities – from sales and support to marketing and client relationship management. But these new roles are worth it when reflecting on what you get in return – freedom, interesting projects, great opportunities and the ability to do something that you are truly passionate about.

Here to support your future success

If you are interested in joining the hundreds of female contractors, but you’re not sure where to start, talk to us. We have been supporting contractors for over 20 years, ensuring you maximise the money you make, letting you focus on what you do best! Schedule a call with our team at a time and date that suits you.

We hope you’ll join our community of female contractors Women in Contracting LinkedIn Group here*. We hope you will find it helpful.

*This is a community for women or people who identify as female. Please note, where we reference women or females, we include people who identify as female.

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