You haven’t given us much information.
What’s going to bring you more satisfaction? What are your immediate and long term financial needs and goals?
Will you be happy on a lower paying position or will the higher income make you feel more satisfied with your life?
Will the contract job bring you high stress levels that will make your time off feel like nothing more than time for sleeping and recovery?
From my experience: a high paying job can sometimes destroy your mental health. I worked in a high pressure environment for 5 years. I made a tonne of money during that time but the stress of the job almost killed my mental health.
I then went on to own a business which, while stressful, was much more enjoyable. The business has since eaten away at all of my money so I recently had to go back to work.
The best thing though? My new position is less stressful but almost pays as much as what I was on in my high stress position.
So some things to consider:
- what do you need to achieve financially in the next 5 - 10 years?
- can you achieve those goals in either position?
- will the contract role be high pressure and high stress and can you cope with that?
- which role will be best for your career in the long term?
- which position will make you happiest?
Your answers to these questions should give you a pretty good indication as to which direction is the smartest.
Hope this helps.