Didn't know whether to post this in here or Jobs & Careers but here goes. After 5 days in Melbourne and four interviews I have been offered two posts. The first was a permenent position offering a $80k package plus super at 10%, medical insurance and bonus scheme. I was over the moon at the prospect! The next day I got the second offer of a contract position over six months (possibly longer) offering $500 per day.
My question is this: given that the contract position does not pay super, holiday, sickness or medical insurance is it really that much better? Could I fall into a higher Tax bracket with the contract work?
I have until Monday to decide and could do with some advice on how it all works. Thanks in advance...
Dan
ps: in Oz are you over the moon or under it?
__________________
Dan 35 (Nerd!), Emma 32 (Domestic Goddess!), Alice 7 (Teenager in training!), Lily 5 (Tantrum Princess!)
I'd say take the contract work as your success ratio seems so high (5 days 4 interview, 2 offers!!!)...It seems your skills is in demand. Make as much money as possible. In six months, you could try permy if want or stay contractor...Or try negotiate more money/benefit from the permy, knowing you have the contract offer...
Dan, I am just saying what I would do...It does seem to me that your skills are highly in demand and in your case, I'd make the most of it by earning $500 dollars a day!!
I'm a belt and braces kind of girl and would always go for the permanent position - your security with a contract could be tenuous and you still have to pay your super so take that out, you will be in a higher tax bracket and if you get the flu next week you are going to be stymied.
Your permanent position still looks pretty good - the medical insurance is going to be of the order of about $800 a month if it is anything like mine and you have the capacity for bonuses as well.
I wish I had your skills, no one ever paid me $500 a day!
God we've been in this situation sooo many times.
Marks general rule
Is it a 6 month flat contract..,........... Take permanent.
or a 6 month rolling contract............ Go for it.
Is there possibilty of perm work at the end of the contract?....... Definately go for it.
If you don't know you need to ask.
Is the perm position able to wait a while. A couple months contracting, then jump ship..check your fine print first..most of the time no or little notice is required.
Is the Perm position offering good prospects?? and is the $ enough for you?
Could you go to the perm position and tell them you have been offered something else although its better money the prospects aren't as good and its not where you wanna be.
see if they can up it a bit??
Worth a shot.
__________________
I wanna get outta this place, if its the last thing i ever do!!:wubclub:
You can claim alot by contracting which brings your tax right down (not sure about oz rules) but a few years ago Mark was earning huge amounts contracting for the MoD. by claiming dividends we reduced our tax bill so much he didn't need to worry when the contract ended.
__________________
I wanna get outta this place, if its the last thing i ever do!!:wubclub:
Thanks for all the advice, I'm starting to lean towards the contract role as they indicated that it would probably be extended beyond 6 mnths, and I may be able to get other work at short notice should the contract end. I need to look closer at medical insurance - I had no idea it was that expensive. Thanks
__________________
Dan 35 (Nerd!), Emma 32 (Domestic Goddess!), Alice 7 (Teenager in training!), Lily 5 (Tantrum Princess!)
Thanks for all the advice, I'm starting to lean towards the contract role as they indicated that it would probably be extended beyond 6 mnths, and I may be able to get other work at short notice should the contract end. I need to look closer at medical insurance - I had no idea it was that expensive. Thanks
Ooops, no medical isnt that expensive - dont know what came over me. $250 a month. I was still thinking in weekly mode.
HEE hEE Thats sounds a tad bit more realistic!!!!!!!
