and usually M / SB don't offer perm immediately
will dovetail it under Contract but you get the full array of full time benefits (ie PB etc)
and if u dont screw things up, likely will auto extend (some form of paper exercise) and when the estab head count appears, emplace u lor

fixed terms contract basically also has fixed duration 1 year usually
and may be renewed at discretion of M or SB
but caveat is no pay increment
no PB
and there's cap on the number of times the M or SB can sign u contractually (base on my own experience was 3 contracts)
and usually should have been 1 + 1 + 1 year max
my former SB give me a 1 + 1 + 2
but also let go after 4 years up and no head count (more than 1/2 of the 4 years were during covid time)