Company or Contract????

Question

I currently work for a company...good company with very low turn over rate. The only negative is it's 88 miles from my home and I feel as though my degree is not valued there. I recently received an offer to work as a contract employee (with benefits) at a very known copany. The offer is for $13,000.00 more than I currently make, better position, title, and it's 15 minutes from home. The only negative is it's Contract. There is no pension in contract...just 401K. Have anyone else experience working as a contract employee at a company? Is the pay increase worth it?

Additional details...I am in Michigan, so 88 miles is approx an hour and fifteen minutes.

Answer 1

Sounds like a sweet deal. Most companies offer a 401K instead of a pension now. The beauty of that is you can take it with you if you leave before retirement. As the previous poster said, check to see if they will be matching all or a percentage of your funds.

Also look at what they are offering you:
you have bennies--contractors are not usually offered this
401K--again, not usually offered to contractors
bigger paycheck
closer to home--means less commute and less gas spent=more money saved

Downside:
What exactly does contract mean in this case?
Is this a short term assignment or an assignment that will have a definite end date?--Then take the job now and learn from the experience and take the time you will be working here to search out another job that will advance you further along your career path.

Don't make the mistake of hanging onto a job that it sounds as if you are really not happy there and waste any more of your time.

Answer 2

Are they offering any matching funds in the 401K? That's pretty much all the pension most companies offer anyway.

I think the distance alone would make the job worth it. Don't know where you're at but 88 miles is a couple hours each way.