Pros and cons of changing from full time job to a contract role (1 year). Any advice?

Actually no different. If company want to get rid of u, if u are a full time just give u a notice, if u are a contract just dont re-contract u.

If the company want u, if u are FT, they just do nothing, if u are contract, they will renew u.

Unless your role is a temporary role?

Pros:

• Higher salary (dependent if there's the availability of any benefits for the contract role as elaborated below)

• Shorter termination notice / period (might pose as a con as well) Gives you more flexibility to hop onto another FT role if you come across one.

Cons:

• Some companies don't provide contract staff with benefits (medical / reimbursements, bonuses etc.), thus do check verify what exactly is within the contract package.

• Shorter termination notice / period. You'd have to find another role at a short notice.

• May not look good on your resume. If you head to another interview and the interviewer questions why your stint was so short, you'd have to find a tactful way to answer (and not just purely based on the higher remuneration)

But I feel ultimately you should ask about the chances of being converted to a full-time role during the interview. This would indicate to the interviewer that you have interest in staying with the company rather than simply taking this as a temporary stepping stone to another venture.