Thinking of taking on a contract-based job? First consider some of the pros and cons:

Pros:

• Flexibility for those who like the freedom of working on preferred projects and for different companies
• Opportunities to explore new firms and sectors and to learn new skills
• Freedom to decide your working periods: you can work for six months and take a three-month break

Cons:

• May not get the same level of compensation or an equal range of benefits as full-time employees
• Lack of job security as it is the company's decision whether to renew your contract
• Possibility of a 'gap' between contracts if you can't find another job immediately after the previous one expires

Sources: Robert Walters, The GMP Group, Mercer

This article was first published in The Straits Times.