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The 150k has 0 benefits whatsoever and is a private contractor position so you drop the soap for taxes.
The 75k one has every possible perk. Pension. 401/Roth 401k. Deluxe 0 deductible health insurance that includes spa treatments and chiropractor work which you can take with you into retirement, a Union, Tenure, and every other possible perk you could think of.
Thats a difficult question because I would need to weight the benefits. Do I need medical benefits for myself or my family? Is money my main priority right now? If you are on 1099, pay your taxes monthly. Do not wait until April or you will be in trouble when you see how much you owe.
Thats a difficult question because I would need to weight the benefits. Do I need medical benefits for myself or my family? Is money my main priority right now? If you are on 1099, pay your taxes monthly. Do not wait until April or you will be in trouble when you see how much you owe.
I'd take the second for damn sure. This is more of a hypothetical question.
The FTE position. Less likely to be gone on a whim compared to the contracting position. You'll also be treated better and have benefits to boot. If it's very short term (<1 year), contractor for absolute dollars.
I'd take the big money hands down! I'm young, no plans to start a family for at least 10 years, and maybe not ever. I could easily cover all my own benefit costs for a small fraction of the difference in pay. The union/tenure/pension stuff is attractive, but frankly even if I wanted to stick with one company over the course of my life there is nothing to suggest that all this stuff is going to be applicable over the next 40-50 years before I retire.
Hard to tell. It's hard to beat Tenure. But financially, it's hard to beat the contractor position. If it weren't for tenure, this would be an easy decision.
In terms of health benefits, FTE wins. In terms of retirement, contractor wins.
I feel the second job could literally save your life in retirement and protect you financially.
If you were a contractor and you maxed out your 401k every year, for 30 years (assuming that you're young), you would have close to $7 million in retirement. You can afford health insurance just as good with that kind of sum.
If you were a contractor and you maxed out your 401k every year, for 30 years (assuming that you're young), you would have close to $7 million in retirement. You can afford health insurance just as good with that kind of sum.
Until they find a reason to drop you since you're too old. At that point even 7 million dollars won't last against cancer treatments.
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