Would you leave a ₱220K/month corporate job for a ₱320K–₱420K/month remote contractor role?
Using a throwaway account for privacy since some of the details are quite specific. Salary figures are rounded for anonymity.
Need some outside perspective because I've been going back and forth on this decision.
I'm currently working for a multinational company in the Philippines in a senior individual contributor role in digital marketing.
Current job:
- Around ₱220K/month gross base + allowances
- 13th-month pay, annual performance bonus, and company stocks that vest periodically
- HMO with hospitalization and outpatient coverage
- Regular PH employee with statutory benefits and protections
- Mostly remote, with the option to go to the office whenever I want
- International scope and significant responsibilities
- Generally comfortable with my role, team, and responsibilities
- Potential career growth, although there are some upcoming organizational changes
New offer:
- Around ₱320K/month guaranteed gross
- Can reach approximately ₱420K/month gross with performance incentives
- Fully remote with flexible hours
- Independent contractor arrangement with a foreign company
- No 13th-month pay or traditional PH employee benefits
- No severance if laid off
- Only 14 days' notice if either party terminates the contract
- Around 20 working days of vacation plus additional wellness leave
- Medical reimbursement benefit after a six-month probationary period
- Quarterly performance incentives and a bonus upon successful completion of probation
- Would involve managing a small team
Here's my dilemma:
While the monthly salary difference looks significant, the actual increase in overall annual compensation is only around 10–20% once I factor in my current stocks, bonuses, and allowances, assuming the new company's performance incentives are achieved. This is before accounting for potential differences in taxes and benefits.
I'm currently on the individual contributor track and genuinely enjoy being hands-on. I don't particularly aspire to become a people manager, although I'm open to learning.
The new opportunity would mean taking on people-management responsibilities, which isn't necessarily the career direction I want.
I'm also concerned about giving up the security of regular PH employment, especially with the 14-day termination notice and zero severance. I have some major financial commitments coming up in the next year, so stability matters.
On the other hand, my current company is also going through potential organizational changes, so staying doesn't necessarily guarantee stability either.
I'm not actively looking to leave my current company. The offer just made me reconsider whether I'm leaving money on the table.
If you were in my position, would a potential 10–20% increase in total annual compensation be enough to justify the contractor risk and people-management responsibilities?
For those who moved from regular PH employment to foreign contractor arrangements, was the higher compensation worth giving up the benefits and job security?
Would appreciate your perspectives, especially from people who've been in similar situations.