Well to start with
1. If you are on contract then you won't get your salary (Do not trust them they will say something like it's difficult time for company and all and won't give you money)
2. You won't have your life since you will be working in all weekend ( with CEO on top of ur head)
3. If you are employee then you will get your salary on time but don't be too happy because either ur manager or main BOSS will get angry on you from time to time without any reason or fault ( since they are paying you apparently they can)
4. You don't have any kind of authority to take any decision but you will get blamed for BOSS bad decision with him asking you who did this? Why it happened? And all BS
5. Forget about pay raise or something because they will claim you will have it next year or in 6 months but its just talk and talk !!
Well n it goes on and on !! Don't want to blabber but if you want to do work for them atleast be employee.
Doesn't matter what they say like its our company policy not to hire anyone directly on employment but maybe 6-8 month contract and that kind of BS!!