Contractor vs Permanent Employee Job Interview

Hi folks,

I have never been a contractor PO, and I was wondering how these interviews differ from the "standard" ones when you apply to become a full-time employee at an organization. I've heard from a few people that have been working in IT for over 20 years as BAs and QAs that it's much easier, and you never have any performance reviews and all of that bullshit, and of course - the pay is higher, although the risk of not getting a new contract is also high.

Are there any PO/PM contractors out there? What's it been like being a contractor PM/PO/BA in IT?
UK based.

Thanks!