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100k/yr IT consultant or 55k/yr employe w/ full benefits

  • Last Updated:
  • Nov 23rd, 2014 7:34 pm
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Deal Addict
User avatar
Nov 9, 2003
2689 posts
282 upvotes
I'd take the job that makes you happier, never take a job for the money, can't buy happiness.

If both jobs are equally as satisfying and can both lead to the same advancements in your career Id take the 6 figures everytime
Banned
Jul 3, 2013
1508 posts
300 upvotes
I have and will always choose growth over stability. We have at maximum 40 years to accomplish as much as we can in our chosen career. I am not going to waste a single minute in the pursuit of "stability".
Sr. Member
May 9, 2012
520 posts
173 upvotes
SF Bay Area
Ahzuz wrote: Let's say that we're talking IT Project Management\PMO field in high profile banks.

Let's also say that both roles are about the same (employe one vs consultant)
If the both roles are about the same I would go with the one that pays more (contractor). You are still young and if you on top of your game I don't think you'll have much problem finding another job if your contract doesn't get renewed. 45k difference is a lot of money.
Sr. Member
May 9, 2012
520 posts
173 upvotes
SF Bay Area
FutureCEO wrote: I have and will always choose growth over stability. We have at maximum 40 years to accomplish as much as we can in our chosen career. I am not going to waste a single minute in the pursuit of "stability".
Agree, stability is overrated in the tech industry.
Deal Expert
Oct 6, 2005
16872 posts
2557 upvotes
I would take the job that pays more now. You're healthy and have the capability to work - might as well maximize the opportunity today.
Deal Fanatic
Oct 1, 2004
6651 posts
995 upvotes
GTA
Ahzuz wrote: Let's not talk about a gouvernement job in comparaison here please. I got a job offer from Canada gouv that I refused, I don't want to work there it's a career killer unless you want to end up there.

Back on topic guys!
It's definitely a career killer when the IT/audit/FORD grad programs starts with a salary on par with the big firms and guarantees a 25k jump within 3 years, 5% salary increase after that at the same job regardless of performance reviews. Good luck with min wage ei when you need parental when you have your 3 kids.
Deal Addict
Jul 29, 2002
1958 posts
84 upvotes
Which position will give you big and interesting projects?

But in any case, I'd go with 100K contract work. The gap is too great (55k vs 100k). It's a harder choice if it's like 80k.
Newbie
Jul 23, 2014
20 posts
2 upvotes
Toronto, ON
greg123 wrote: It's definitely a career killer when the IT/audit/FORD grad programs starts with a salary on par with the big firms and guarantees a 25k jump within 3 years, 5% salary increase after that at the same job regardless of performance reviews. Good luck with min wage ei when you need parental when you have your 3 kids.
My thought exactly. The government compensation is very competitive to the private sector for most positions, but people somehow get the idea that you make less money in the public sector.

By the way, the salary difference of 45k indicates that the OP is not comparing jobs with the same level of responsibility. If the two positions were located in the same city, the difference should have been 25k at the maximum (i.e. 75k vs 100k). Just because two positions have the same job title, it doesn't mean that they are the "same" job. Think of equity analyst at Citi and "equity analyst" at a local mom-and-pop investment firm. Would you say that they are comparable?
Sr. Member
Nov 18, 2010
617 posts
265 upvotes
Vancouver
Young & single = higher paying job
Married with kids = security, need to put food on the table
Deal Guru
User avatar
Nov 6, 2010
10018 posts
1967 upvotes
Montreal, QC
It's important to think about advancement possibilities in the future too. Sometimes short term higher pay isn't the best solution long term. If the lower paying job gets you into an industry/company that is better in the long run, might be worth giving that a shot.
Jr. Member
May 26, 2006
197 posts
6 upvotes
Winnipeg
testinz wrote: The normal calculation is your government salary * 1.5. It's only worth it if your take-home consultant pay is higher than that.
how do you figure this? seems a bit high.
Banned
User avatar
Jun 22, 2012
4737 posts
722 upvotes
Shhanada
Ahzuz wrote: We're talking IT jobs, which means the 100k/yr job will be renewed for sure and maybe for alot more, wont stay on the "bench" for long.
Unfortunately if you are starting off with the assumption that anything will be renewed "for sure" and won't have idle time, you're deceiving yourself.

There's no such thing as "for sure", just as there's no such thing as a permanent position, anywhere, including government.

However if you think the consulting job is reasonably stable and has some prospect for completion and renewal, OK. I've seen consulting positions where the key intent is to dismiss the consultant as quickly as possible, or as soon as someone comes back from maternity, or the first time the department needs to pretend they are cost cutting. Factors like need, skills, common sense, etc don't necessary apply.

But if it's what you perceived to be a good spot, then easily the $100k contract is better than $55k with benefits. Many of the benefits can be purchased separately for a lot less than the differential. The key for whoever is doing is this is to take the $100k and pretend it's $55k, to and to live that lifestyle in terms of taxes, spending, planning, and so on. Far too many contractors live based on how someone perceives a $100k earner should be living, then they get surprised.
Deal Addict
User avatar
Dec 14, 2006
3385 posts
441 upvotes
Montreal
Very good inputs guys, keep them coming.
I was there at the 32$ price error at dell.ca day AND at the 150$ off price error at fs.ca
RFD price error moto: "Buy now, think later." -Ahzuz

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