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 New Job Offer, Contract for one year

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TSjadjad
post Mar 18 2020, 11:47 PM, updated 3y ago

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Hi all, I've been in a dilemma at the moment. I have an offer that I think could benefit me in my career path. It is with 40% increment but the downside, it is a one year contract job. My current salary is just enough to live day by day without any savings at the end of the month but at least I'm a permanent employee at the company. With current economic issue and the pandemic that is happening, is it wise that I take the opportunity now or should I play it safe? Opportunity doesn't always come but uncertainty in jobs security also could cost me in the future.

Edited ( 30th Dec 2022)

Well, last 2 years+ had been good to me. The client decided to absorb me as their staff. My salary doubled from the last time I create this post. I was blessed with a child during the pandemic. I was still healthy and fairly happy for now. Covid virgin wei. Looking back it really was a gamble, i thankful to God for this rezeki.

I'm looking forward for next year challenges and blessings.

This post has been edited by jadjad: Dec 31 2022, 12:12 AM
TSjadjad
post Mar 19 2020, 01:30 PM

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QUOTE(PrincZe @ Mar 19 2020, 12:30 PM)
Well, do u have enough back up savings in case the 2nd month they decide to lay u off? If not, then dont
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Forgot to include in the post, I am working in an IT industry at the moment. The new job offer is in Banking sector. No, I don't have any savings now, and my credit card debt is piling up. I don't use my cc to buy stupid things, a lot of it was use to fix my old car which I need to go to work.
TSjadjad
post Mar 20 2020, 10:03 PM

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QUOTE(Dblu3 @ Mar 20 2020, 10:11 AM)
For me, 1year is more than enough to show your skills and value to the company that offers you 40% higher and you just said it will benefit you in your career path. go and take it don't say any regret and opportunity come once. If you scared of the pandemic now, but you should know that your personal value in the career so don't be scared, earn 40% more and benefit and upgrade yourself. Also, save a little more for this year. Besides, most importantly make sure the new company that offers you is a stable company. If it is not, then just stick with your job. But is safe and strong for your future. Go for it pal don't regret! Maybe is a life turning for you
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Thanks for the positive vibe, that's what I keep telling myself. But deep down, I can't deny that I am worrying about making a bad decision.
TSjadjad
post Mar 20 2020, 10:11 PM

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QUOTE(Financier @ Mar 20 2020, 07:12 PM)
TS every decision have consequences, and pros and cons. I wont decide for you, but here are some pointers:

If you stayed, you might regret why you didnt take the chance and fret and cause work problems. If you quit and accept the new job and things turned out worse, you might regret why you quit the old job.

> 1 year contract, quite short
> Uncertain times with virus and recession
> If you start work in april or may, assuming that virus died down next month, i doubt you will learn much too within the 1 year period considering current situation
> After 1 year, you need to find another job, many people might be laid off by then and you might need to compete with many people.

Like I said, every decision has pros and cons, just accept whatever and do your best and dont regret on the past. It wont help you.

But one thing for sure, always keep a lookout for jobs align with your career goals. Always have an escape route planned at any given situation.
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Yup, that's the thing. Do it or do not do it - you will regret both. I am aware of the cons in working as contract. I already plan to take professional cert with the extra money during my tenure with the new job. At least after I settle all the debt.
TSjadjad
post Mar 20 2020, 10:20 PM

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QUOTE(seventwo @ Mar 20 2020, 07:35 PM)
Contract position can pay you well
Pros, you got more money to spend. Before complete the contract, probably can get offer permanent and get increment.
Cons, can be transferred easily to other project (depends on contract), your contract not extend.
Do you have fixed commitments? NO?
You’re in which industry? IT?

No + IT, you can consider to accept, if not hard to say lah. Not a good time right now
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Currently fix commitments is about 20% of my salary. Others like rent, mobile plan, petrol and toll, etc is about 65%+-. I only left with less 15% for me to survive until end of month. Luckily the car that I used is my family old car, just need money to maintain/fix. But now parts keep having problems, can't complain much since it already old. I am in IT, networking.
TSjadjad
post May 3 2020, 09:18 PM

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I will be starting my new contract job tomorrow. On my last day of my previous job, I felt relieved cause after this I can start fresh, new environment, new pay and new opportunity to prove myself. But then due to current situation, the panic start to kick in, cause of LIFO. There is no turning back now. Godspeed.
TSjadjad
post Dec 31 2022, 12:14 AM

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Hi everyone, it turned out well for me for the past 2 years. Thanks for all the insights

 

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