I Make Around $185k Full-Time with a Contract on the Side

Navigating your career can often feel like a balancing act, especially for those of us who find ourselves in unique situations. Today, I want to share my experience of working full-time while managing a lucrative contract on the side, which brings my total income to around $185k annually.

A Snapshot of My Current Situation

I currently work a full-time job that pays $95k a year. I live in a small town with a population of less than 10,000, and the nearest major corporations are an hour away. This geographical limitation makes it challenging to seek other job opportunities without a longer commute or switching to a remote position. Fortunately, my current job features a reasonable commute of under 20 minutes and a favorable 4/10 work schedule, allowing me to enjoy Fridays off.

My job is relatively low-stress for about 80% of the year. In fact, I can often complete my weekly tasks in less than 20 hours. This flexibility has provided me with the opportunity to take on a side contract with a small company, which pays $90k for nine months. I’m about halfway through this contract, and they’ve expressed interest in extending my work with them for an additional project worth $70k, potentially lasting for four years.

The Balancing Act

Currently, I’m able to manage both my full-time job and the contract work within 40 hours per week, sometimes stretching a bit beyond that. I usually work on the contract tasks during my regular job hours, which has allowed me to maintain a healthy work-life balance. However, while I’m content with my current arrangement, I often contemplate the long-term implications of staying at a small company versus pursuing other opportunities.

One downside I face is the limited vacation time at my full-time job, which caps at two weeks a year. However, I’m willing to overlook this drawback for the time being, as the side contract work compensates for it.

Job Security and Growth Concerns

I have been with my current employer for about 1.5 years. While I appreciate the low-stress environment, I can’t help but feel concerned about my career growth. There’s limited room for advancement, and I’ve noticed that I might be the highest-paid engineer on the team, which raises a red flag. My recent raise was somewhat of a last-minute effort to retain me after I threatened to leave eight months ago.

Despite these concerns, I feel a sense of security in my current role. Having been laid off from a previous corporate job, I’m wary of making a move that could lead to another job loss. Here, I believe I’m relatively safe from layoffs unless the company encounters serious financial difficulties. After all, they’ve reinstated contracted work in-house because of my contributions, which includes training the team on new systems and tools, such as Git and managing our internal Linux server.

Weighing My Options

As I reflect on my situation, I find myself questioning whether to stay in my current role and continue with the side contracts or pursue a higher-paying job that might come with its own set of challenges.

Insights from the Community

Recently, I shared my experience in a community discussion, and I received some excellent feedback that helped me clarify my thoughts:

1. Job Security Concerns: One commenter pointed out that if I have to fear layoffs, it’s an indicator that my current employment may not be serving me well. This perspective resonated with me, as job security is indeed a crucial factor to consider.

2. The Value of Experience: Another commenter emphasized that every choice has its downsides, but what matters is finding a situation that works for me. Working for a small team can provide valuable experience and connections, especially while I manage my contract work.

3. Staying the Course: Several individuals advised that, given my current low-stress environment, I should capitalize on the contract opportunities while maintaining my full-time role.

Ultimately, only I can judge the best path forward. I’m inclined to keep my current balance of work and take advantage of the contracting opportunities as long as I can manage them effectively.

Conclusion

In conclusion, my situation is a reminder that career paths are rarely linear. While I am currently enjoying a favorable work-life balance and financial stability, I recognize the importance of being proactive about my career. I encourage others in similar positions to reflect on their values and long-term goals. There’s no one-size-fits-all solution, but understanding your unique circumstances will help you make informed decisions that align with your aspirations.

As I continue to navigate my career, I remain open to new opportunities while valuing the stability I currently have. If you find yourself in a similar position, remember to weigh the pros and cons carefully and do what feels right for you.