Jobs are like buses...

[Miocene]

So... I've been unhappy in my current workplace for 6 months now and so decided to look for work elsewhere, and, to cut a long story short, was offered a new role with the below details:

Current salary + 30%
Up to 20% bonus
Company doubles whatever I put into the pension scheme up to 7% (as in I put in 7, they put in 14)
Healthcare
30 days holiday

But... it's a 12 month contract role. Its for a large company with approx. 120 people in the finance department (I'm a Management Accountant by trade), so although the contract isn't ideal, I hoped it would be a way in and would have scope to move around at the end of the contract / become permanent.

I have accepted this and am due to start in 10days time, but today everything changed somewhat... I decided to keep an eye out for a perm role, just in case, and have of course been offered one, just to complicate things.

The new role is offering:

Current salary + 17%
No bonus
Company puts in 4% pension
No healthcare
24 days holiday

And... it's a permanent role. It's for a well established growing company. Approximately 15 people in finance, of which I would report into the FC along with a couple of other people and then above that would be the GFD.

Now, I would say its a fairly easy decision between the two if they were both perm or both contract, but the problem may be with us wanting to get a house together in a few months time. How do mortgage companies look upon contractor roles in general, does it cause many problems?

I've had no previous periods of unemployment and have other assets that could be sold that would mean we would be okay for a year or so if we bizarrely both were out of work whilst still covering the monthly bills - if that makes any difference to a banks view of things!

Any help on this would be greatly appreciated... I was kind of hoping I wouldn't be offered the role so that decision was taken out of my hands!

Edited by Miocene on Thursday 18th July 13:45

[randlemarcus]

From what I can see the first job isn't technically a contract role, it's permie, but with a 12 month contract, IYSWIM. I suspect HMRC would think so too, given they will match pension contributions.

[Miocene]

You are correct of course same conditions as permanent, just for a 12 month period.

[Jonathan27]

Go with the one that you feel will be the best place to work. You are unhappy in this role and if you just move to somewhere for the cash, you may end up the same way. Also as they both represent decent a decent increase in pay, then you should pick based on the job that you like the most, not the package that you like the most.

[V8mate]

What makes you tick? The comfort and certainty of being paid at the end of the month, no matter what happens, or the thrill of a new challenge, safe in the knowledge you won't be there long enough for it to get boring?

Only you can answer that and people are very different.

Do you have any commitments: mortgage, wife/family? The latter should at least be consulted on your course of action.

[BrabusMog]

What happens after 12 months? Any possibility you will be kept on? Seems a bit bizarre that they'd give you full time benefits such as pension etc but then just say goodbye after 12 months.

[Miocene]

Of course I managed to miss out a couple of details in the original post... in the contract role, the vast majority of people are made permanent at the end of the initial period, or at least given another contract role.

I have a fiance, but no children. I have a inherited house up for sale (no mortgage) that would pay off the remainder of the mortgage on my fiances property, but of course we would like to purchase a larger place together, hence the contractor / fixed term mortgage query.

[BrabusMog]

Option 1 all the way, if that is the case. I'd presume after the successful completion of your first 12 months that you would be in line for a pay rise along with your new contract.

[Gargamel]

Option 1, no brainer

Bigger company, bigger team, more money more opportunity in the future

[WhereamI]

No job is 'permanent' until you've been there for two years. Arguably all the first one is doing is being honest that they will review the situation after a year, the second one could do the same as well.

From the details you've posted the first one is the best choice by far.