My thought is that if I can't find work as a contractor then I'd have as little chance at finding work at a company, so it may be time to retrain anyway.
I am assuming you're a software developer, I'm by no means an expert on contracting, but my two recommendations are: Specialize in a domain, and stay on the technology bandwagon. You can't pin your career on a technology, they go obsolete too fast, but you can specialize in an industry domain.
I specialized in eCommerce, and I've had to use dozens of different technologies, each project brings in a new tech stack and a new set of idioms. I have a friend in motorsport/automotive software, which is an exciting field by the sounds of it. There are dozens of industries that need software but aren't solely software companies, and I think that's where much contract work is.
I am ideologically against the rapid technology swapping our industry loves, I really prefer to dig in deep to a framework or stack, but this is work so I keep my eyes up and forward. Sometimes all you need is to recognize the buzzword, say "Yep I've heard of that", then go home and do some research to make sure you can pull it off before accepting the contract.
Thanks! Last few years I’ve been a data science manager, and my education is in engineering physics, but I have a lot of experience with software (also as a consultant / running a small consulting company).
Focusing on an industry domain (rather than toolset) seems smart. It’s difficult to be productive in new/unfamiliar knowledge domains and I’m sure buyers understand that.
Ah sorry, I just assumed you were a dev trying to get into contracting given the context.
To answer your question a bit better, I don't see much career growth per se, there's certainly no ladder I am climbing, it just becomes easier and easier to find work over time thanks to prior experience compounding. You get to choose nicer contracts and work with people you like.
There's a lot of potential for personal development though, and you can choose to spend more time on developing recurring revenue and "productifying" your expertise instead of just selling your time hourly.
I am assuming you're a software developer, I'm by no means an expert on contracting, but my two recommendations are: Specialize in a domain, and stay on the technology bandwagon. You can't pin your career on a technology, they go obsolete too fast, but you can specialize in an industry domain.
I specialized in eCommerce, and I've had to use dozens of different technologies, each project brings in a new tech stack and a new set of idioms. I have a friend in motorsport/automotive software, which is an exciting field by the sounds of it. There are dozens of industries that need software but aren't solely software companies, and I think that's where much contract work is.
I am ideologically against the rapid technology swapping our industry loves, I really prefer to dig in deep to a framework or stack, but this is work so I keep my eyes up and forward. Sometimes all you need is to recognize the buzzword, say "Yep I've heard of that", then go home and do some research to make sure you can pull it off before accepting the contract.