I'm applying for a job at the LMB in Cambridge, UK. I am aware that the LMB offers two paths for a postdoc: an MRC Postdoctoral Training Scheme and a Career Development Fellowship. I am unclear of the implications that each one entails.
For the postdoctoral training scheme, I will receive a settlement allowance of £1,000 that is taxable but not pensionable. I will have to find a mentor in the institute and will receive an allowance of £850 per annum in year 1, increasing to £1,300 per annum in year 2 and £1,800 per annum in year 3 and beyond. This allowance will be taxable but not consolidated for pension purposes and paid on a monthly basis as a normal salary throughout the year. No redundancy payment is made at the end of this fixed-term contract.
While with the career development fellowship, I will have no formal mentoring and will not receive the allowances but will be eligible for a redundancy payment at the end of your fixed-term contract.
What are the pros/cons of either?