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Can you earn more money working on a contract than working in a fulltime job?

Having spent several years specifically working as an IT recruiter fil

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

ling Information Technology positions, I certainly saw my fair share of highly paid contractors.

In most instances, contractors earned more money on

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

an hourly basis than they would have earned had they been doing the same job in a fulltime capacity being paid a salary.

The reason c

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

ontractors tend to be paid more?

With a contract job, you are typically signed to do the job for a specific length of time so accepting the c

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

ontract means you're taking yourself off the market for a fulltime position for the length of the contract. In my experience as an IT recruiter, cont

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

racts generally ran for 3, 6, or 12 months in length and could sometimes be extended, often several times.

Also, with a contract position you genera

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

lly don't get paid any benefits, don't get paid for vacation and might not be eligible for other perks that fulltime staff might otherwise be entitle

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

d to.

Sometimes a contract job turned into a fulltime position later on.

With contract work, I often found that once people tasted the (higher) con

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

tract money, they didn't want to work as a fulltime employee anymore.

Also, many of them liked the variety of work and the fact that they were expos

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

ed to different work environments, technologies, etc.

The flipside of course is that contractors might end up finding themselves out of work for per

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

iods of time if one contract finishes and they haven't found a new contract to go to.

Then again, perhaps they could afford to take time off given t

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

he money they were earning.

If you're considering contract work you should be aware that some employers have difficulty hiring people for fulltime p

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

ositions who have a track record of working contract.

They often fear that if a contractor accepts their fulltime position, they will end up quittin

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

g the fulltime job the moment a more desirable (ie. better paying) contract position arises.

If you're looking at a specific contract job, you might

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

consider why the job is being offered as a contract.

Does the company simply require someone for a set period of time and are willing to pay extra

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

for this person (ie. the position is a "typical" contract) or are they simply trying to avoid adding a fulltime employee (ie. extra headcount) which

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

might mean they'll simply offer you the fulltime equivalent salary for the period you would be working with no premium paid?

I once experienced the

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

latter situation and can tell you that I was simply paid the fulltime equivalent since there was a fulltime hiring freeze in the company and m

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

y manager got around it by classifying my job as "contract."

In this instance, I certainly didn't paid get the higher "contractor" rate, that's for

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

sure!

The good news was that after working on contract for about 9 months, I was hired as a fulltime employee so things turned out quite well for me

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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