[Drago]

There are consultants, which Steve and Mike describe pretty well...and there are are contractors, of which I am (sort of...more of an industry-assist/supplier roll), who are typically hired on to start and complete specific projects. They are better paid than the direct engineers but have lower job security and recieve a lot less benefits-wise. When the project is over you find yourself a new job or go on umemployment. If your good enough and know the right people you can remain in constant employment. I've been "contracting" for over half my career now, with zero time unemployed. I've also managed to stay in the Seattle area the entire time (although I have considered offers across the country as well).

Your typical engineer will have no less than 5, preferably 10 years of varied experience before they go contracting.

Truth be told...with the state of the industry right now (out sourcing) I'd advise you either switch to a different major or finish the eng. degree and get an MBA as quickly as you can. Then take the project management or just plain management route if you have to be in aerospace.