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Is this a huge waste of my time?

polycounter lvl 15
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MattQ86 polycounter lvl 15
Nope, its not another self-doubt "I quite Polycount forever" thread. Unfortunately you're all stuck with me. Instead its one of those positive "I got a job in CG" threads...well...maybe.

See, recently I replied to a craigslist ad looking for animators, stating that they were looking for somebody to work on a series that could either be 2D or 3D in the vein of Family Guy or The Simpsons. Hours later I received a reply stating that in three to five days I along with others who applied would be provided with a script and expected to submit in return a short work inspired by it. The e-mail made no mention of payment on the project so I was left confused.

Today I woke up to find an e-mail which had been addressed to myself and 35 others. In it the potential employer clarified that after the shorts are submitted he would select the animators. Furthermore the script wasn't attached, instead we would need to sign a CDA. The e-mail ended as follows:
[FONT=arial, sans-serif]The position is paid but none of us involved, at this point in development, are receiving 'full-value' wages. Should the series be picked up, that will change, of course. [/FONT]
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[FONT=arial, sans-serif]If hired, therefore, you will be paid on a contract basis at an hourly rate is $15.00. Your legal status would be that of an independent contractor.[/FONT]
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[FONT=arial, sans-serif]The deadline to return the CDA and submit your work sample is noon (CST) Wednesday, November 23, 2011.[/FONT]
So, yeah, this sounds very suspicious. Has anybody here ever experienced this kind of hiring process? It seems like it could be a huge waste of time.

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