Difficult decision on whether to take a job offer or not?

Hello all!

I'm in a bit of a situation and would like to ask for everyone's opinion.

So I'm 27 and currently working as an Engineer for a good company that I've been working at for about a year and a half. Currently making 83k a year with good medical, vision and dental insurance and 6% 401k match. They also cover tolls and give 20 PTO days per year. Commute is about 30 mins. I have built a reputation here and feel like I'm at a stable position, but it's salary with a minimum of 50 hours per week.

Now I have an offer for another position at $62/hr BUT:

- It is an open ended contract position

- no benefits at all, would have to pay my own

- only get 5 days vacation days per year

- it's in NYC and I live/currently work in Jersey

Now there is possible overtime I could get with the offered position which would bring in a lot of money. But I don't know anything about:

- purchasing my own insurance, do I pay Jersey or NY rates?

- Does the pay outweigh the risk?

- would working in NY at a higher tax bracket completely screw me?

Any advice would be greatly appreciated!

8 Answers

  • n2mama
    Lv 7
    4 weeks ago

    When you say it’s a contract position, does that mean you will be a 1099 employee? If so, you may have to self pay your taxes as well, which brings that $62/hr down a lot. And then if you have to self pay for your insurance, have a longer, uncompensated commute, it really adds up to cut into that amount. Contractors are often viewed as expendable or disposable, and if it isn’t fixed term, you could be told your services are not needed at any time.

    Personally, I wouldn’t take it if the only attractive piece is the hourly rate.

  • Judy
    Lv 7
    4 weeks ago

    There are a lot of reasons to stay where you are for now and don't take this offer. Why are you even considering it?

  • 4 weeks ago

    Never switch from staff to contract employment. At some point you might consider switching to a start up but you are not at that point yet.

    But consider switching from NJ to NYC if you can find a staff position there once you have completed at least two years where you are now. Reason is that the NYC employers are of higher quality. It costs more to run a business there so they invest more in their employees. You are underpaid relative to NYC software engineers. Clean up your LinkedIn profile and monitor the positions advertised by Bloomberg, Google and Amazon. Everyone is hiring.

  • 4 weeks ago

    i would find out more about it and then make that decision

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  • DEBS
    Lv 7
    4 weeks ago

    By my back of envelope calculations, your $83k is at $93k+ not counting your medical/dental. That includes the 401k match (hope you're maxing that out) and the PTO days. If they pay 100% of your health care, that can easily be $6k per year (500/mo) and likely more. So you're right at $100k.

    That compares against about $130k working full time at the new place less $6k for health care = $124k BUT you basically get no PTO. So is $24k-ish worth it to you?

    For me, not being single or as young as you, the money would be enticing, but the benefits and the fact they don't offer better PTO are huge negatives. The no PTO tells me they don't expect you to have a work-life balance.

    You can, however, use this offer (without giving all the details) to try and get yourself a raise especially if you think you're underpaid for the job and region you're in.

  • Anonymous
    4 weeks ago

    "It is an open ended contract position"

    If you mean that you would be self-employed and receive a 1099, it's a no-brainer. Stay where you are and keep looking elsewhere if you'd like to explore other opportunities.

    Consider discussing your salary with your current employer. It seems low to me especially for 50 hours a week.

  • 4 weeks ago

    I would stay with who you are with - main reason GREAT BENEFITS!!!!!!!

  • Tavy
    Lv 7
    4 weeks ago

    WHY on earth are you even thinking about it? My son was a Contractor in the UK. No holidays, no benefits, no mortgage as it was a contractor job. Yes he was paid a lot of money. he took 2 weeks holiday a year which meant no pay, if he was sick there was no pay.

    Not worth it.

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