Job Types Flashcards
(21 cards)
Sole trader
Self employment
(Owns own business)
Sole trader: pros
Control over work
Flexibility
Retain all profit
Low set up costs
Sole trader: cons
Harder to take holiday
Less tax flexibility
Issues with finance and tax
Self assessment expenses (tax return)
Freelancer: pros
Freedom
Adjustable hours/work
Remote
Flexibility
You choose work+wage
Freelancer: cons
Own tax
Constant search for work
No paid time off
Less job security
Multiple clients
Freelancer
Independent
(Earns per job/task)
Permanent
No end date
Permanent: pros
Job security
Career progression
Development opportunities
Form professional relationships
Permanent: cons
May get bored
Limited earning potential
Skill set may not grow
May feel stuck
Less flexible
Fixed term
Employed under contract
Fixed term: pros
Valuable experience
Earn more
Interesting work
Flexibility
Avoid long term commitments
Fixed term: cons
Find new job
No job security
Promotion unlikely
Suggests can’t commit
Assume not trying to be permanent
Sub contractor
Outside person/organisation work usually done within the company
Subcontractor: pros
Specialise in skill
Choose job to accept
Work with multiple clients
Fewer obligations
More money
Subcontractor: cons
Less protection
Fluctuating schedule
Own taxes
Adjust based on contractor
Zero hour
Not obligated to work any amount of hours
Zero hour: cons
No guaranteed work
No guarantee regular income
Limited benefits
No job security
Project based
Specific projects
Project based: pros
Save money in benefits
More money per project
Control over career path
Not tied to company
Project complement your skill
Project based: cons
Uncertainty of employment
Look for new work after
Eliminate security in benefits
Zero hour: pros
Flexibility
Lower costs
Ability to manage demands
