Pros
I had the pleasure of working with a great project manager who consistently showed excellent communication skills and a strong understanding of corporate processes. Their ability to keep the team aligned and the project on track made a big difference in achieving success.
Kontras
Worked full-time hours for the last two of four years but was classified as a contractor. I was required to keep prescribed hours like an employee, yet received none of the standard benefits—no health insurance, stock options, sick or vacation time, or 401k match. On top of that, the company avoided making employer contributions toward state and federal programs (Social Security, Medicare, unemployment), leaving me to cover everything myself. Essentially, I carried all the responsibilities of a full-time employee without the protections or support.
The environment was often hostile - rife with fear and intimidation. Turnover was high. An overseas (from a country where compensation is 1/5 the cost on average) contractor was placed on my Asana tasks as a means to takeover my position.