I took a break since shutting down my last company and wanted to take some off to recalibrate after getting COVID last year (near death experience) and wanted to make sure I eased my way back into the job market. How long should I consider contracting at a place before moving on to securing the next full time job (40 hours a week but with the expected healthcare benefits, stock options etc.)?
I see many job postings that is say 3 days/wk hybrid in-person and remote, but still expectedly about 40 hours a week it just lacks required in-person working in the office except a few days for meetings. I am thinking that it would take me 3-6 months to settle in the jobs I am interviewing for expect 9 months to a year, and maybe have some benefits, but not the full time permanent position.
Should I contract hourly temporarily just for a few months and try to land the permanent position (full time benefits and full 40 hours a week) at FAANGMULA instead of being on contract for 6-9 months and just break my contract?
Some of these shorter/temporary jobs are coming by way of referral (know friends working at some other startups/companies) or 3rd party recruiter for FAANGMULA or FAANGMULA itself (experimental groups at Meta). I personally want to land something more full time permanent sooner, but the market I know is challenging and it can be tougher to get my first Tier 1 preference, so I'm settling for Tier 2 contract, but not putting 100% of my time into that company so I can spend more time applying to other jobs, refining my side projects/apps to release with actual users and make my portfolio and resume a bit more impressive with other clients or other places to work (household name, but not completely full time).
What is the best approach so that I can effectively land a FAANGMULA / startup company without completely burning myself out and diving into the next job?
First off, I am glad you're easing into things given your recent experiences!
It's unclear to me if you're contracting already or considering contracting until you land a full-time job.
If you're already contracting, I'd explore FTE roles there along with your interest in working at that place as an FTE. Switching to an FTE position will give you more runway to prepare for your next role that truly interests you. If there's no chance/interest to convert to an FTE at this place, then IMO, you should do just enough work to stay in that position but spend the bulk of your time preparing to land an FTE position.
If you're not contracting yet, I'd def take up a contract job to both be employed and fill the resume gap. Don't feel obligated to stay there for too long if you find a compelling FTE position shortly after you begin your contract. Here's why—your contract employer won't consider your contract length if your position is unexpectedly eliminated for any reason. So why should you? It's OK to want to leave when a good FTE role comes your way. If they like you very much, they can always offer you an FTE position! And it'll be great to have that choice.
What is the best approach so that I can effectively land a FAANGMULA / startup company without completely burning myself out and diving into the next job?
Any new job will take more time and energy initially, so your preparation is likely to take a back seat temporarily. After you're ramped up, you'll need to set clear boundaries on your time to continue to prioritize your preparation.
This also brings up the point: to contract on not also depends on how far along you are in your preparation. If you're generally prepared and tend to interview well, then a short contract gig might be a distraction. But if you have a lot of preparation ahead of you, then contracting is a good idea.
In this market, I think contracting is a solid option for the reasons you mentioned. The economy is still quite rough (2024 had way more layoffs than I expected), so the bar for FAANG FTE is skill-high. The bar will definitely be lower for contracting roles, and I know several great engineers in the Taro community who are trying the contract -> FTE conversion strategy right now. The tradeoff with a contract of course is the lower pay (no RSUs), less stability, and being treated not as well as the FTEs.
In terms of how long to do the contract, I think you just want it to be as short as possible. Ideally you can just contract at FAANG and convert it after 6 months, but that's not likely (earliest conversion is generally 12 months). Once you're on the contract, treat it like a promotion. Establish yourself as a high-performer and then figure out that conversion dialogue with your manager.
I also recommend just asking upfront (both to the recruiter and during the interview) for contract opportunities on what the pathway to FTE conversion is.