Pros and Cons of Security Contracting

Published on March 18, 2019
Duration: 15:05

Security contracting offers significant financial rewards, with daily rates potentially exceeding $1,000, and lifestyle perks like generous time off and high-quality amenities. However, it presents substantial cons, including the risk of 'lifestyle creep' due to high pay and the emotional toll of missing crucial family moments. The speaker, Ivan from Kit Badger, strongly advises having a clear exit strategy to avoid becoming a career contractor.

Quick Summary

Security contracting offers high pay ($200-$1000+/day) and lifestyle perks like 90/30 rotations and good amenities. However, beware of 'lifestyle creep' and the emotional impact of missing family milestones. A clear exit strategy is essential to avoid becoming a career contractor.

Chapters

  1. 00:00Introduction and Background
  2. 01:09Motivations for Contracting
  3. 02:22Pros: Financial Compensation
  4. 03:44Pros: Lifestyle and Amenities
  5. 05:10Pros: Mental Health Support
  6. 06:55Cons: The Financial Trap
  7. 09:33Cons: The Schedule and Family Impact
  8. 11:14Conclusion and Exit Strategy

Frequently Asked Questions

What are the main financial benefits of security contracting?

Security contracting offers significant financial benefits, with daily rates potentially ranging from $200 to over $1,000 depending on the contract's risk and premium level. This allows for substantial savings if income is managed effectively.

What are the lifestyle advantages of being a security contractor?

Contractors often enjoy specific work rotations, like 90 days on and 30 days off, providing extended free time. High-end contracts can also include excellent food, well-equipped gyms, and other amenities exceeding typical military deployments.

What are the major downsides to security contracting?

Key downsides include the risk of 'lifestyle creep' where high pay leads to excessive spending, and the emotional cost of missing important family moments despite having blocks of time off.

Why is having an exit strategy crucial for security contractors?

An exit strategy is vital to prevent becoming a career contractor trapped in a cycle of 'one more deployment.' Quitting can be difficult, so planning an exit beforehand is strongly advised by experienced contractors.

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