What is the difference between C2C jobs, 1099 position, W2 position, and full time, part-time jobs?

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C2C jobs

Before searching for a job, a candidate must be clear about his requirements. It is certainly difficult for a student to find the perfect job that matches his capabilities. One must possess all the legal documents and genuine information. A single mistake is enough to send him to his hometown. A candidate has 4-5 types of job options such as full time, part-time, W2, 1099 MISC, and C2C jobs. In this blog post, you will find which position would be ideal as per your requirements.

1. Full-time positions:

Full-time jobs are the most common jobs. It is beneficial both for the employer and the employee. This type of employee is controlled by the employer. Plenty of benefits are provided, such as retirement plans, accident compensations, etc. It is the opposite of C2C jobs.

Pros:

  • Medicare and health care are taken care of by the employer
  • Holidays and vacations are paid
  • Personal and sick leaves are offered
  • Government benefits are provided

Cons:

  • Increments in salary are not as regular as other options
  • Personal and family is limited 
  • An employee doesn’t get much time to do other activities such as starting a new business
  • The work environment is mostly stressful

The bottom line for a full-time work position is that, the harder you work now, the easier your retirement will become.

2. Part-time work position:

College students and those who are pursuing higher degrees usually prefer part-time jobs. As it’s a part-time job, more time can be given to studies. Further, it leaves a great impression on the resume, as it’s proof of work experience. Part-time jobs can also be looked at as an internship. Students should decide at once, whether they’re looking to gain some experience or want experience with money. Some companies provide subject-related internships to students to sharpen their expertise and knowledge. Read the documents carefully, as it’s common to mistake an unpaid internship for a paid one.

Pros:

  • Practical knowledge will be gained, aside from just theory
  • This experience helps once you get hired as a full-time employee. 
  • Boosts the value of you getting a high-income job
  • Money will not be an issue, students will become independent and can continue their studies

Cons:

  • Paid internships in the student’s field of interest are not easily available
  • Even if the employee is working full time, the income will stay the same
  • Some focus time is reduced from your studies. Therefore, there can be some impact on your studies

To sum the part-time position up, think of it as an opportunity to learn, rather than to earn. 

Must Read : What is Corp to Corp(C2C)? Can small businesses benefit from this arrangement?

3. W2 Position:

This position is similar to a full time working professional. Employer’s rules and regulations are implied on the worker. However, it is not the employer’s business to pay taxes. Employees are self-employed. Therefore, it’s his business to pay taxes from his side, which are more than 6-7%. W2 Position doesn’t come with the same benefits as the full-time position. But less working hours and regular increments in pay are some huge boons of W2 working positions.

Pros:

  • Promotions are regular, and family time is more
  • It’s a contract based profession, therefore, there’s no risk of getting fired within the time frame of the contract
  • The overall workload is less

Cons:

  • No benefits from the employer’s side

4. C2C Jobs and 1099 MISC:

Both of these working professions are simple. Suppose, you’re an individual contractor, then it’s a 1099 MISC position. If the individual contractor opens up a business, it’s a C2C business. Notice the work, C2C, a corporation is dealing with another corporation.

Pros:

  • More money
  • Flexible timings

Cons:

  • A little unstable and requires hard work in the beginning
  • Taxes are more
  • No Medicare, retirement plans from the employer’s side

Suggested : Some Essential Factors Of Corp To Corp: Learn Everything You Need To Know