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Checking ur priorities matter here. If you want a much better offer, you should wait. If you are satisfied with hike/work profile/permanency of new job then you can resign. Upto you how you choose ur priorities
Yes you are right, i am not very much satisfied with the offer. So will wait for a good one. Thank you for the response!
How should I negotiate for permanency and if this approach is suitable? Or should I just wait for the permanency and simply reject the other offer?
If you have a decent offer and it is a permanent job, you can resign from current org and join the new one.