My boss offers to convert me to permanent

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I am currently on a six-months contract job. My contract is ending in December, and I have been expecting my boss to tell me about contract renewal. The recruitment agency did mention that this contract job is a renewable contract. Today my boss calls me into his office, and offers to convert me to permanent with effect from January 2016. The salary increment is nominal, but I will get to enjoy slightly better bonus and benefits than my contract term. Without any hesitation, I reject it. I rather stay on as a contract staff, and not permanent staff. I have seen the kind of stress that permanent staff handles, and I do not think I want the same kind of stress. In my role as a contract staff, I do not have to write up policies, standard operating procedure, answer queries from the auditors. If I want to go home on time, I can still go back if my colleagues are not on leave. The permanent staff do not have such luxuries. They often work late into the night for free, and they have to return on weekends for special projects. They get time off but not overtime pay. The extra month of bonus is not enough incentive for me to take on such work stress. I think I will die young in this job as a permanent staff. That is probably the reason that many permanent staff do not last more than two years.