Pros
Flexibility and freedom for growth and development, both professionally and personally are present in my current position. The leadership at the company for which I am a contract employee are very aware that I could be somewhere else but choose to remain with them in this capacity. They treat me as one of their own, inviting me into company meetings and work with others outside of the company.
Cons
No benefits, such as paid time off, health insurance, company contributions to a 401K plan. If I don't work, I don't get paid. I can end up working in excess of 60 hours per week at times.