Learn the Ins and Outs of Contracting with Lata Hamilton | Ep. 261

• Lata explains two main types in Australia: fixed-term contracts (set period with salary) and day-rate contracting (paid per day, often for project work). Day-rate roles are common in project-based fields needing specialized skills quickly without permanent hires.

I actually tripled my salary in the space of three years by doing two things, by making the move into projects... and then also by moving to day rate contracting.

• Recruiters are key because they proactively source talent for clients. Lata's first day-rate opportunity came from a recruiter call. She emphasizes building relationships with recruiters in your field so opportunities come to you.

• Tiffany adds that temp and staffing agencies are underutilized resources—applying even without immediate openings puts you in their database for future project or direct-hire work.

They can be your greatest asset... build relationships with recruiters, get to know them... because they can absolutely be your best friend, your best ally.

• Recruiters use specialized search tools beyond public LinkedIn views. Keeping profiles updated and staying active increases visibility in their algorithms. Lata recommends maintaining current information on job sites and LinkedIn to appear at the top of recruiter searches.

• Lata initially declined the first day-rate offer because she had just started a new role. She researched implications (benefits trade-offs, tax considerations) before pursuing day-rate work. Key moves included switching to change management, accepting a local day-rate role, and changing organizations multiple times.

In that move, I kind of doubled my income... over the space of three years, I think I probably changed organizations like three times and changed careers and changed the way that I was employed.

• Contracting changed how Lata valued her time and skills. The 'no work, no pay' structure highlighted the worth of each day. She built significant savings that funded her transition to full-time entrepreneurship and accelerated paying off her apartment.

By the time I decided to sort of move into my business full time, I had like $200,000 in savings in the bank simply because of the way that I had chosen to work in projects.