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Need ranchers' expert advice!

Paavam Payyan
Ranch Hand

Joined: Jun 25, 2002
Posts: 86
Its that dreadful decision time again, and my head is spinning!
Okay, I can�t stop thinking how similar my situation is to another thread in here couple of weeks ago which was well discussed, but I still can�t come to a decision on the this issue. Its like as follows, and any of your thoughts greatly appreciated!

I am an average rancher; that is 5+ yrs Java/J2EE experience and such usual stuff. I was unemployed earlier this year (let go when then employer closed down their operations in this country) and after couple of months hard work, I landed a short term J2EE contract (mostly through networking - thanks to my good friends!) which I finished in September.
Since September, I had four job interviews, and one of which, a big financial institution (a large bank, actually) offered me a �non-specific-term� contract role, wgere I started working since mid November. Now, one another firm from those four interviews is offering me a permanent position and I can�t decide what to do.
Let me list some points (which would help me think more clearly too).
Company A
Advantages
1. Largest financial institution, more than 30,000 employees, 2000 or so in this office alone � prestigious client to work for, prestigious project to make my CV more interesting.
2. Excellent work environment � absolutely brilliant and nice colleagues, infrastructure and facilities (bit like pre-dot-com-burst � excellent dinner hall etc.
3. Less work pressure (!!!)
4. Handsome Overtime pay (there might be extra work around release, occasionally etc)
Disadvantages
1. It�s a contract position (till the project is over, which is like another 6 months).
2. Pay is about 15% lesser than what I used to get

Company B
Advantages
1. Permanent position.
2. Pay meets my expectation (just about as much as I used to get before being let-go)
3. Technology-wise � not as bad as Company A
4. Into Financials services, recently signed huge deals with big international financial firms
5. I used to work there (in 2000-2001, as a contractor, left on finishing the contract, they were downsizing), somewhat comfortable with the product.
Disadvantages
1. Small (compared to Company A, its like 1:1000) sized firm.
2. New deals and projects � work is mounting up there, and since they are recovering from many rounds or down-sizing, they don�t have enough resources/people � a lot of work, I mean A LOT.
3. And No Overtime pay
4. Small firm, small setup, small benefits, low extra perks, small/no luxuries.

So there you go, what should I do!? Will it be unprofessional to leave this place this quickly after joining? Is it better to join a smaller firm, careerwise and stability-wise? And a lot many ???s, to be honest!
Any suggestions will be highly regarded and will be added to my own thought-process!
-PP.
PS: Sorry about using my fake identity here, but I cant post under my real name - I have already got all my colleagues hooked to ranch.
[ December 10, 2003: Message edited by: Paavam Payyan ]

<i>All that is gold does not glitter, not all those who wander are lost - <b>Gandalf</b></i>
Tim Baker
Ranch Hand

Joined: Oct 04, 2003
Posts: 541
have you asked at your current company what the prospects are for extending the contract? if you tell them you have an offer of a permanent contract they may well offer you one too, (if they like you )


Kim Jong II (North Korea's Dear Leader) said:Nuclear weapons don't kill people, people kill people.
Paavam Payyan
Ranch Hand

Joined: Jun 25, 2002
Posts: 86
Thanks for the suggestion, Tim!
However, they seem to be keeping extending contracts up to three years and more, with out offering them permanent contracts! Also isn't there a risk of them thinking that I might leave sooner or later, and hence giving me less important work etc?
Tim Baker
Ranch Hand

Joined: Oct 04, 2003
Posts: 541
i doubt they would do that. once you get within the last couple months of your contract they will probably not give you any big projects, but whilst they have you they will make full use of you.
it might be useful to find out what the staff turnover rates are in your company. what has happened to everyone else when their contracts were up? if everyone else in the office has been there less than 2/3 years or so then they probably have a high turnover rate and so they probably wont keep you that long.
SJ Adnams
Ranch Hand

Joined: Sep 28, 2001
Posts: 925
take the money!
 
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