Choice Between Contracts - Advice Needed

[lje]

I'm currently in a contract until November. I've been here since October last year and it's likely to be renewed until at least Easter next year. It's only 11 miles from home and I don't do much overtime. I like the people and I've enjoyed the work to a certain extent. However, I'm doing project management and I don't find it very fulfilling. I've done project management in the past but always combined with technical architecture work.

Some people I used to work with have approached me about doing a very interesting role reorganising a department's developers (140 in all - based across the world). I've worked a lot with off shored people before and would like to do so again. It would also be a very challenging role for me (which I like) and could lead to future roles which I would enjoy. The role is for 6 months and I think there'll be another 3 months after that. However, there are two downsides:

1) I would need to be away from home (in Canary Wharf) for at least 2 nights a week. This could end up being more without any control.

2) The pay is not good. It's more than I'm on at the moment but I would need to pay for the train and hotels or an appartment, which overall would leave me worse off. Worse than that though is that this is for an investment bank and a reasonably senior role - I feel like the consultancy I'd be working through would be raking the money in. I used to be permie for a company related to the consultancy and they were known for keeping salaries low - I guess I still have some feelings left over from that...

So, do I stick where I am doing not challenging work for good money and close to home? Or do I go for the interesting role with time away from home and no financial advantage?

I'm the kind of person who thrives on challenge. But I also really enjoy my life outside work, which would be disrupted by the new role.

Before any of you berate me for asking for advice from a bunch of strangers I'm not asking you to make my mind up for me - it's just that a few extra opinions might help me to make up my mind.

[northernladuk]

Fill your boots where you are in my opinion. It still isn't pleasant out there and it is time for topping the warchest up and thanking your lucky stars you have a long contract. Interesting contracts come and go and working with offshore people is going to get more and more popular.

The economic situation is time based as is the current contract you are on. Interesting projects are not as they come and go over the years and nothing will change there.

Based on that I would most definately stick where you are, do not get complacent. You have a good role, near home, good pay but it is a little bit boring. You can't get much better than that. In 6 months time when you are stuck in the pissing rain in Canary Wharf and the project isn't working out as you wanted it to you are going to regret your move.

Fill your boots, stiffen that bottom jaw, give it another 6 months, review the warchest and market conditions and if both are excellent THEN you can go chasing interesting and potentially risky contracts.

[dynamicsaxcontractor]

You answered this one yourself, its a no brainer.

So, do I stick where I am doing not challenging work for good money and close to home?

[northernladuk]

and thee can stay aroun't Yurkshire folk who speak proper like what thee does....

[CheeseSlice]

The pay is not good. It's more than I'm on at the moment but I would need to pay for the train and hotels or an appartment

They want you, so they should 'hopefully' be open to negotiate. I would draw up a budget based on current rate, and calc the new rate you would need to get equivalent once all costs taken out.
Are you even going through an agent or will this be direct?

I have just completed a direct contract where I had to sign up to an uncertain amount of time away from home. Client also didn't want me to bill through itemised expenses for hotels, food or travel, as this allowed them to cap costs and keep the pricing simple for their customer. My approach was to build a rate based on a worst case scenario, and then to give them several options by trimming down days spent away.

Once the option they wanted was agreed (full flexibility / max option), I put the terms of the arrangements, avg number of full round trips per week and max nights away into the contract.

That was the simplest way to reach an agreement when they didn't know what they wanted, and it worked out very well for me on the weeks when I could work more days close to home

[lje]

and thee can stay aroun't Yurkshire folk who speak proper like what thee does....

Thanks northenladuk - but I'm one of those scummy southerners who lives in the north just to annoy the locals (especially my husband...)!

[lje]

They want you, so they should 'hopefully' be open to negotiate. I would draw up a budget based on current rate, and calc the new rate you would need to get equivalent once all costs taken out.
Are you even going through an agent or will this be direct?

I have just completed a direct contract where I had to sign up to an uncertain amount of time away from home. Client also didn't want me to bill through itemised expenses for hotels, food or travel, as this allowed them to cap costs and keep the pricing simple for their customer. My approach was to build a rate based on a worst case scenario, and then to give them several options by trimming down days spent away.

Once the option they wanted was agreed (full flexibility / max option), I put the terms of the arrangements, avg number of full round trips per week and max nights away into the contract.

That was the simplest way to reach an agreement when they didn't know what they wanted, and it worked out very well for me on the weeks when I could work more days close to home

My current contract is direct. The potential contract is through a consultancy. They contacted me and offered me the role because I have worked with them before. There has been one round of negotiation already - and the rate has been increased (although from a laughably low rate to be honest). I know they are keen to get me involved but they are also notoriously tight.

I might put together a few options like you suggest and send it through to the consultancy.

[northernladuk]

Thanks northenladuk - but I'm one of those scummy southerners who lives in the north just to annoy the locals (especially my husband...)!

Arghhhh Get thee'sen and thee shandy drinking laa laa ways back darn sarth then. Tek yon job n bugger off 'ome

[lje]

Arghhhh Get thee'sen and thee shandy drinking laa laa ways back darn sarth then. Tek yon job n bugger off 'ome

But then I wouldn't be able to enjoy myself by upsetting all of the locals... A girl has got to have her fun.

[CheeseSlice]

My current contract is direct. The potential contract is through a consultancy. They contacted me and offered me the role because I have worked with them before. There has been one round of negotiation already - and the rate has been increased (although from a laughably low rate to be honest). I know they are keen to get me involved but they are also notoriously tight.

I might put together a few options like you suggest and send it through to the consultancy.

If you know they need you (or just really prefer you), and can't get another ten-a-penny person to do it, you need to show more control over your rate. If they dont want to pay the amount it will actually cost you (i.e. what you quote), then you should be saying you can't do it for that little, and perhaps say you can only do X days in the city instead of Y (if any at all).

If they're just recharging you, then they should pay. Unless of course they've already done their deal with their customer and agreed the overall price for the project and therefore your rate. Then it'll be down to whether they'll give up some of their margin to get you in. I actually had a rate dispute at the last minute, after their deal was done and they still gave in an paid (mine was through a consultancy also).

One thing I should point out is that I never provided my breakdown of costs to my client as you can't always predict what hotels will be available and at what rates. These are not materials that they are receiving so you have every right not to disclose them - they'll only nit-pick at them anyway.