this post was submitted on 24 Aug 2023
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I'm a Data Scientist working my first job since my masters, where I've had an extremely successful last 2.5 years at my employer with the different projects I've done. I don't think I'm making very much though, only $78K. In addition, due to a coworker leaving all my time is being spent doing simple SQL reporting that isn't developing my skill set, and the company isn't hiring a replacement.
I recently applied to a position posted by a recruitment agency and got an interview with them. It would be a for a 12 month contract but the pay would be around $150K if I got it. In addition the work would be more senior and relevant in the sense that I'd be basically building their data science capabilities from scratch. Being self-employed I'd have to take care of paying taxes, the employer portion of CPP, etc. - but for that increase in pay I'd be crazy to not take it, right?
It's also worth mentioning that I have fairly minimal monthly expenses and about $100K in savings in case something goes wrong, so it's not like I'd be risking a mortgage or anything terrible if something went wrong.
Something to consider, so I pretty much was in the same scenario you are in, but seven years ago. I took the contract, the money, and the several skipped steps promotion. I don't want to say it was a mistake, it wasn't, and I had a helluva experience. But I wasnt quite ready for the fallout afterwards.
I decided to not renew the contract, and I'll save you all the details, but I ran into a bit of a downturn and it took me almost a full year to find employment after, and I basically had to go back to the level I was at before I left. It took me a few years to get caught back up. Again, it was an awesome experience, I don't regret it, but I'm not sure I'd do the same thing again. I'd honestly look for something a bit more firmed up than 12 months, even if it's for a bit less money. I'm not saying don't make a move. But if I could find something perm, with benefits and RRSP matching and all of that for say $120-125k, I'd sooner take that over the $150k open ended.
Also if it's for a recruiter, it's probably awful. Just be warned. If they have to get a recruiter, they had to for a reason. Not saying it's not legit, but just keep one eye open. Recruiters lie like rugs too, until you have an offer in your hand to sign, trust them about as far as you can throw them. They overpromise and grossly under deliver.
Thanks for the advice! I'm definitely taking everything said with a huge grain of salt and I'm going to demand some of the non-monetary aspects be put into the contract (like the rules around working remotely). I'm also actively applying to other positions too - I'm hoping I'll find something more reliable.