I am a full-time employee, and my employer has extended me the offer of a new contract, should I wish to accept it, which offers a guaranteed pay rise, in exchange for an additional clause which places an additional restriction upon my right to terminate my contract of employment, meaning I am effectively unable to seek work anywhere else, for a period of 2 years.
The pay-rise is substantially more than I would expect, should I not sign, and most likely more than I would be offered for equivalent work at another company. I am also very happy with my employer, and do not particularly intend to move for the next 2 years in any event.
However, in my spare time I am studying a post-graduate qualification, which potentially significantly boosts my future career prospects. I will have completed the first half of that course in the next 18 months, and will receive a certificate indicating as such, which will go on my permanent academic record. There is no signal that my employer intends to leverage my new qualification when I have completed it, which means that to make the most of it I will quite likely need to look further afield.
Given all of this, I am leaning towards accepting the new contract, since it guarantees a pay increase in excess of 12%, and whilst it takes away my right to terminate for a period of two years, I am unlikely to seek employment elsewhere in that time anyway.
Does anyone have a contrasting point of view?