Contract Paraplanning Services

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Difference Between Contractor and Employee

Is it just me, or does there seem to be a huge emergence of ‘side hustle’ culture? A 5 minute scroll of Instagram has me thinking about earning $5k a week by simply submitting product reviews or if content writing could bring me in the $$$ while I sleep.

The prevalence of side hustle culture, combined with higher numbers of people working from home, is making people question their careers and how they work. A Paraplanner that doesn’t have a flexible workplace might think doing contract work from home is their golden ticket.

But it’s not that simple.

There are a few differences in the structure of being a contractor vs employed Paraplanner, but I’m talking about the less tangible differences. What type of person is best suited to contracting? And what type of person should stick with being an employee?

Because of the hundreds of Paraplanner interviews I’ve conducted over the last decade, I’ve developed a bit of a ‘Spidey-Sense’ when it comes to these things. I’ve come up with the 3 key differences between a contractor and employee that will help guide the way you do Paraplanning.

1. Socialisation

Remote contracting work can be quite isolating. Even ambivert me finds myself craving social interaction throughout the week. On top of this, most of your work will be done from home so you’re not leaving your house as often to get those little moments of interaction each day.

Contracting is best suited to introverts or ambiverts because you’re working by yourself most of the time.

2. Initiative

In contracting, there’s no one there really to hold your hand. Sure there are Facebook groups and networks of Paraplanners that you stay in touch with, but on a day-to-day basis, it’s up to you.

You need to be a self-starter and be able to hold yourself accountable because no one else is going to reprimand you for procrastinating on social media too long.

3. Confidence

Consider being a contract Paraplanner as running your own micro business (because that’s exactly what it is). Work will not always easily flow to you – there will be times where you have to seek it out yourself.

If you struggle being your own cheerleader and telling people about why you’re an amazing Paraplanner, rethink contracting. Confidence is key because if you don’t believe in your work, no one else will.

Being a contractor or an employee requires different attributes that are not only key to your success, but also may be the difference between you embracing or struggling in your role.

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