I work as a contractor for a big fintech in the USA. This fintech does not allow contractors to lead new feature development regardless of seniority (not explicitly, FTEs have separate sprint planning and meetings).
We (contractors) only work on research tickets and bugs.
This is frustrating. Should I change company?
Yes, you should change companies and ideally get a full-time employee (FTE) role.
If you're a contractor:
At Meta and Google, contractors are very much second-class citizens (they can't attend all-hands meetings or receive swag). In the long term, you should change jobs.
A big part of career growth is about your manager: https://www.jointaro.com/lesson/oeY7ncZhzJ5NO6dij5e7/masterclass-what-software-engineers-should-look-for-in-their-engineering-manager/
It sucks, but I get why the company would do that. That being said, if your goal is career growth (i.e. grow from mid-level to senior), then you should 100% change companies.
There's several benefits in being a contractor (more flexibility, a higher hourly wage in some cases), but when it comes to scope, they are always treated as second-class citizens relative to FTEs. As Rahul mentioned, even prestigious companies like FAANG will do this.
To help you find an awesome new role, check these out: