Games and VFX Contract types

Contracts
              definition.

A natural person, business or corporation which provides goods or services to another entity under terms specified in a contract.

Under a contract, the contractor agrees to give the money and supplies needed to the contracted company so they create a product (or in this case a game) and then gain profit from it to fund the next contract. The game company gains money by being supplied with the required amount to start a project and then gain a profit to support their company.

Freelance - They are self-employed or are part of other companies and often look after their own tax and National insurance contributions. They might not be entitled to the same pay as other workers.
They have flexible hours, control over jobs and clients, they can work where they want, are their own boss and keep all the profits which are good but they don't get reliable amounts of work, there's a lot of legwork and there's the chance of not getting paid.

Contractor - Work in contracts which usually only last about 6 months but can do multiple contracts for the same company. They receive more earnings and great variety in their job as well as good flexibility, they get free training on the job and a good work/social balance.
On the downside there is some difficulty staying in contract, getting time off between contracts, hard to create a safety net when contracts are unreliable, as well as hard to get holidays when contracts can be so spontaneous.

Permanent Contract - Where you are employed by the company until either the employer or employee decides to stop working there. With this you have insurance of a job, you will get holiday and sick pay, you may get a pension scheme set up and it may provide a job advancement.

Full Time - Full time employment is when an employee works a minimum amount of hours defined by their employer. They have access to paid leave, have a regular rotor each week that wont be changed without notice, earnings that allow you to be applicable for loans, are paid usually in advance so you have money till you find a new job. The problem is it can become boring and job hunting can become hard when you have only a select skill set.

Part Time - A part time employment is the same as Full-time but has fewer hours to work. There's good flexibility and more often than not you only work 1 part of the day, can make extra money when there's busy periods at work. You don't receive the same benefits as full-time workers, no paid time off, no career ladder and are the most likely to be laid off first.

Internship - An internship is when an employer offers a job to work for a limited amount of time usually for about 12 months. This gives them a chance to explore a career path they may be interested in, it provides skill developments, it is a good place to be networking and improves your CV. But there's usually little to no pay, some even cost you money and nothing is guaranteed.