Are project hire positions worth it?

Anonymous

June 8,2022 at 2:07PM UTC

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Are project hire positions worth it?

I was recently contacted by a very large, well-known and respected company for a very specific type of skillset and experience. The requisition has been open for approximately one month (many people who applied did not have the skills so they are still looking) and the recruiter reached out to me (I am currently employed, not actively looking) and asked to speak with me because I have experience.

During the call I asked about the project hire piece and was advised that funding was recently approved for this role and the manager is currently building out the team so it is "very likely" the role will turn into a regular position after the "end date" (approximately one year). Although it is a one year contract, this person would receive full benefits (insurance, PTO, etc.).

Knowing that anything can happen at any moment, there is no guarantee the role will convert to permanent; however, there are full benefits and the salary is almost double what I make in my current role. Furthermore, there has been a lot of uncertainty with the current employer (exodus of leadership and employees) and I discovered I am grossly undercompensated.

Note: I have a pretty established career (15+ years) , so I am not in a situation where I am just getting started.

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AnonymousJune 8,2022 at 3:02PM UTC
This opportunity depends on your situation.
Fir me, I'm looking at retirement very soon so that I may transition to this very type of employment albeit a bit more specific in terms of length of time commitment. I want to work 6 mos.out if the year and travel the rest of the year. I too have a very specific skill set that is not very common. So something like this is ideal.
Since your situation with your employer is not ideal, I would consider this opportunity a nice alternative. If it truly turns out to evolve great. If not, you will have earned some great experience and great compensation so I would not walk away unless something much more certain with equally great compensation comes along.
AnonymousJune 8,2022 at 4:43PM UTC
There is a risk in whatever choice you make: stay or take a project role. Nobody can give you good advice on this, but you yourself. Define your fears/risks, understand your risk tolerance, define the upside of either staying or taking on a new role. Build your fallback plan.
Audrey KirschJune 8,2022 at 5:05PM UTC
It never hurts to have a conversation. It's flattering to have someone seek you out for your skills. You won't know if you're passing up a good opportunity until you find out more about the position.
AnonymousJune 8,2022 at 11:30PM UTC
Since you have 15yrs experience, market the hell out of yourself. But in for fulltme bids left and right aggressively. Not sure what industry you are in buy usajobs.gov has several govt jobs where having 5+years of experience should altleast get you an interview.
AnonymousJune 9,2022 at 1:07AM UTC
I would investigate this new opportunity for sure.
I’d also consider the following:
-Possibility of signing bonus or even higher pay.
-Possibility of severance and outplacement support if job terminated after 1 year.
-Notice you will receive if job will not be extended beyond 1 year.
-Likelihood of new company’s success in launching new business line: budget, expertise, competition, entry barriers.
-Your synergy with the new company/managers
-Will you be reporting to the people who are hiring you now, or will you be reporting to a new hire to be named later?
-How happy are you with your current situation? If your current employer offered you a raise, would you prefer to stay put? (If yes, try for a counter offer if the new company makes you an offer.)
-How does this new opportunity affect your family responsibilities?
-Would you have to move? If so, is this a plus or a minus and will the new employer pay for relocation?
A lot to consider. Congratulations that you are in demand.
AnonymousJune 9,2022 at 4:36PM UTC
I appreciate everyone's response but this poses many questions I had not considered, so thank you. As of right now, the position is 100% remote, so relocation is not in play. I actually thought about the signing bonus and will pose that question if I move on to the next round of interviews (which is likely based on the initial conversation).
Thank you for this thought provoking response!