First freelance opportunity - project engineer - M26 - advice needed
Hello everyone, first time posting here.
I was recently contacted by an agency about a freelance on-Site Project-Engineer position on a large EPCI project for a well-known publicly listed company. Since I currently work in the same industry and have experience with both the end client and the main contractor on similar projects, they reached out to me directly.
They are specifically looking for a junior profile to overlook the works on site, and act as the link between the client, contractor and inspectors on the jobsite, with an initial contract of 18 months and the possibility to extend it to around 2.5 years.
A bit about me: I'm 26, have an engineering degree, and a little over two years of experience as a Project Engineer / Junior Project Manager, all as an employee. I've always considered going freelance at some point, so this opportunity came a bit sooner than I expected.
At the moment, I earn roughly €4,300 gross per month, plus the usual Belgian benefits (company car, meal vouchers, insurance, etc.).
The recruiter hinted at a rate of around €55/hour, with travel and certain project-related expenses likely reimbursed separately. Nothing is final yet, and the exact terms still have to be explained / negociated. This is a full-time on-site role so I should be able to invoice at least 40 hours per week for the full duration of the project. That would mean I could be looking at 90-100k per year in gross revenue before costs.
I've already done some research on the financial side, and my first impression is that the numbers seem to make sense compared to my current package. But I have no prior experience freelancing. The long contract also reduces some of the uncertainty, and my impression is that this sector still has plenty of demand for experienced site/project engineers once this assignment ends. (Think of projects in Infrastructure, energy and large factorys)
That said, since this would be my first freelance contract, I'm interested in hearing from people with more experience.
- Does this sound like a reasonable opportunity for someone with my profile?
- Is €55/hour in line with the current market for a junior project Engineer via an agency, or should I be negotiating higher?
- Are there any common pitfalls I should know about and avoid making?
- Do you have advice in terms of what to do with my company car, accountantcy, the agency, professional costs, scoring new jobs in the future?
I'm not looking for someone to make the decision for me—I'm mainly trying to validate my assumptions and make sure I'm not overlooking anything before taking the leap. I will offcourse be contacting an accountant as soon as i have confirmation that this contract will go through.
Thanks in advance for any insights!